CZ’s Dog Sparks a Memecoin Frenzy, Crypto Trader Bags $28 Million

On February 13, Zhao mentioned that his Belgian Malinois is named Broccoli, which resulted in a flood of new tokens using the dog’s name. On platforms like BNB BNB $631.53 Smart Chain’s Four.Meme, hundreds of Broccoli-themed coins appeared.

One trader took advantage of the trend, buying a large number of these memecoins as soon as they launched.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is a MetaMask Wallet? (And How to Use it - Animated)

SUBSCRIBE

ON YOUTUBE

Lookonchain, a blockchain analytics firm, reported on February 14 that this trader, referred to as a “sniper”, made $27.8 million by acquiring and later selling these tokens. Lookonchain stated:

After CZ announced the name of his dog, this sniper sniped almost every meme coin named Broccoli. Then he distributed Broccoli to multiple wallets for selling using disperse. In the end, this sniper earned a total of 27.8 million USDT.

The term “sniping” is commonly used to describe traders who quickly buy newly released tokens, aiming to sell them at a profit within a short time.

The trader’s profits led to speculation about possible insider trading. Some community members noted that certain wallets linked to the trader were also connected to the developers of some Broccoli memecoins. On February 13, pseudonymous trader @DoctorDeFi shared on X:

For context, this is not a sniper but a Broccoli token developer. In total, he made over $50 million.

Meanwhile, solo crypto miner Marshall Long recently validated a Bitcoin BTC $82,780.21 block. How much BTC did he earn? Read the full story.