How many people have risen to fame in the frenzy of the market?
Written by: Pzai, Foresight News
In the early hours of February 14, as Binance co-founder Zhao Changpeng (CZ) announced that his dog's name is Broccoli, the market reacted strongly in a short period. The surge in requests for token creation and trading led to a bustling scene on the BNB Chain, even causing BSCScan to undergo unscheduled maintenance. How did this social experiment of "Hundred Dogs Night" come about? In the madness of the market, how many people have risen to fame?
Origin of the Event
On February 13, Zhao Changpeng revealed in response to a netizen's question that he owns a Belgian Malinois. When community members requested to see photos and the name of the dog to create a Meme token, he asked, "How does this work? After I share the dog's photo and name, will people create Meme tokens? How do they know which one is official? Or does it not really matter?"
After understanding the relevant mechanisms, Zhao Changpeng stated, "The way things work is interesting. As with any major decision, I need to think for about a day. Should I respect its privacy, or should I disclose the dog's information for everyone? Well, I might also interact with a few Meme coins on the BNB Chain." This marked the beginning of the craze.
Following CZ's enthusiastic response, the MEME platform Four.Meme on the BNB Chain announced the launch of the CZ Dog Name Meme token betting event, and a large number of users began to flock in to guess.
Among the various guesses, Brownie (0xAA7) took the lead, reaching a market cap of 100 million dollars at the peak of last night's market frenzy. Another Brownie (0x556) token also touched a market cap of 35 million dollars, both of which saw their token prices plummet by 99% after CZ announced the real name.
However, in such an environment, some traders still made substantial profits. According to Onchain Lens, one trader initially used 0.4 BNB (worth about 259 dollars) to purchase 25.43 million BROWNIE tokens, achieving a return of 2.13 million dollars at the peak, with an investment return rate of 8460 times. However, during the subsequent decline, the investor's returns significantly shrank, ultimately netting 92,600 dollars, but the return rate still reached an impressive 357 times.
Among the legion of dogs, most tokens were issued on the BNB Chain, and the market performance of each token varied. Foresight News has compiled the performance of the relevant tokens.
Broccoli Arrives
In the early hours of February 14, CZ announced that his dog's name is Broccoli, a young Belgian Malinois. CZ stated in a tweet, "I wanted a name that starts with B and has some green in it, so I named him Broccoli. It also has a Blocky sound, just like in blockiichain."
Regarding the issuance of MEME coins, CZ also mentioned, "I just released a photo and the name of my dog. I am not issuing MEME coins myself. It depends on the community whether they do so. I might interact with some of the more popular meme coins on the BNB Chain (BSC). The BNB Foundation may provide LP support or other rewards for popular MEMEs on the BNB Chain."
In terms of behavior, CZ is providing a possibility for a social experiment through Broccoli, and the market has enthusiastically responded to this demand, leading to the emergence of the Broccoli legion. The largest Broccoli (0x6d5) currently has a market cap of 163 million dollars, while several other Broccoli tokens have also achieved market caps ranging from millions to tens of millions of dollars. The creator of the Broccoli token turned 1 BNB (about 707 dollars) into 9819 BNB (about 6.72 million dollars) within 24 minutes, achieving a return of 9517 times.
The Binance Web3 wallet even began to "officially engage," creating a new token list on the market page named "CZ's Dog," and launched four tokens with the same name, with the largest trading volume exceeding 260 million dollars. However, on February 14 at 16:14, this section was removed by the Binance wallet.
Such a massive influx of traffic also put data pressure on the BNB Chain. For instance, the BNB Smart Chain browser BscScan indicated that it was undergoing unscheduled maintenance, and the block data was not up to date. The reason was a problem with the database service, and their engineering team was working hard to restore it.
CZ also remarked, "I didn't expect this to be a stress test. But interestingly, the breadth stress test (creating a large number of new tokens) is different from the depth stress test (a single CA has a lot of trading activity). I think everyone is preparing for the latter. There is still a lot to improve." In recent years, hot money in MEME trading has mainly concentrated on chains like Solana and Base, and CZ's series of "dog marketing" undoubtedly brought dividends to BSC.
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