Life arrives quickly. Same cycles… even faster.
This was the Gwei a bloody Thursday in the same trenches. The trend of the day was the Changpeng Zhao dog. The former CEO of Binance declared on X that he would tweet his name and his photo, knowing very well that the simple act would feed opportunistic people to create mecoins.
Many cryptographic personalities have involuntarily saw their dogs turn into tokens. They rarely engage with – without talking about encouraging – the trend. CZ was different. He promised to release the alpha, but openly asked how traders would know what even even was the “official” token to buy.
No matter that. At 11:12 am, New York time, CZ revealed that he had a Belgian Malinois named “Broccoli”. In the same article, he promised not to release his own broccoli piece, but teased that he could exchange success, and the BNB Foundation could also take a promotion.
There would be no generous broccoli Thursday.
At 11:15 am, tokens carrying the ticker broccoli negotiated on the BNB and Solana channel. Some of them climbed off the door, apparently reaching stock market capitalizations of a billion dollars while traders were jockey for the predominant room. Without Victor Apparent Consolidating offers, they collapsed just as quickly.
The sudden peak and immediate inversion highlighted the dangers of playing in the not regulated, without law and morality. No one benefits only initiates.
Take the wallet that starts with 0x392eb. He spent less than $ 1,000 to create the token “CZ’s Dog (Broccoli)” immediately after the CZ tweet; It has attributed more than 110 million of the assets to Mint, becoming its unique holder. Two minutes later, he started to sell.
Barely 20 minutes after the launch of the broccoli, the 0x392eb had unloaded all its battery for $ 6.5 million in profits. His sales pressure helped crush the buyers rushing into the token on the (or rather desperate) belief that he would only survive.
The token saw more than 30,000 buyers and sellers Thursday run nearly 100,000 transactions. According to Dexscreener, some first actors made millions, but the tail of the winners quickly decreased. The 100th most successful broccoli trader made a relatively ridiculous profit of $ 20,000.
Anyone who bought this broccoli in its first hour – the height of the craze – and held, is down. The token had a market capitalization of around 50 million dollars at the time of the press, well below its summits.
While 0x392eb unloaded their broccoli as quickly as they could, Cz spoke:
“Leave the best coin in the victory of the community,” he posted on X, reiterating once again, he would not personally choose a winner. He apparently recognized in his article that this soil of trading even was a major bet.
What he did not recognize in his post is that the bridge was so strongly stacked against traders. When a merchant makes millions on a room simply by creating it, giving it to themselves and selling, their profits only come because other people are ready to buy. The fact that the creator sells troves makes the success of the play all the more improbable.
What happened with the broccoli of 0x392eb was played in the same way with other tokens who tried to capture the attention that CZ generated, stressing also how the disjointed effort did not succeed to choose a winner.
The getaway has caused dozens of messages on X launched people who have lost money on broccoli. This also triggered a little soul research on the depressed state of the same trading.
