A Tale of Two Memecoins: $BROCCOLI & $LIBRA

Over the past week, two major memecoin events have shaken the crypto market:

• CZ’s Broccoli Frenzy: Binance’s co-founder, Changpeng Zhao (CZ), set off a memecoin storm when he revealed his pet dog’s name. This led to multiple Broccoli-themed tokens launching on BNB Chain, with one reaching a $140 million market cap in just 24 hours.

• The Libra Disaster: Argentina’s President Javier Milei promoted a memecoin called $LIBRA, driving it to a $4.4 billion market cap within hours, only for insiders to dump their holdings, wiping out $6 billion from the memecoin market in a matter of hours.

Let’s see what’s going on.

Broccoli Memecoin – How CZ’s Dog Became a Crypto Icon

While observing the impact of memecoins on the crypto market, Binance Founder Changpeng "CZ" Zhao acknowledged its potential. When an X user asked if he had a dog, CZ revealed he had “not a Shiba Inu, but a Belgian Malinois,” which resulted in the crypto community asking for the name and picture of his dog.

CZ inquired about how it would work if he shared the information, asking if people would create memecoins based on the dog, how investors would know which one is the “official” token, and if it even mattered.

Traders started guessing the name and launching memecoins like $BROWNIE and $PERRY on BNB Chain.BNB Chain’s Four.Meme platform launched a betting contest where traders could bet on the dog’s name via tokens.

The Big Reveal & Market Reaction

At 4:12 PM UTC on February 13, 2024, CZ revealed that his dog’s name was Broccoli.

Wrong name tokens (like $BROWNIE & $PERRY) collapsed instantly, losing millions in value. Traders rushed to create Broccoli-themed tokens, with the leading $BROCCOLI token surging to a $140M market cap in just 24 hours.

If this all sounds ridiculous to you then consider this. A smart trader took advantage of all this and made a staggering $27.8M! This was his strategy:

✅ Bought multiple Broccoli-themed memecoins immediately after CZ’s reveal.
✅ Spread holdings across multiple wallets to avoid detection.
✅ Used Disperse to cash out without attracting attention.

Will Binance List $BROCCOLI?

Some traders speculate that Binance might list a Broccoli token. However, there’s a problem:

• The biggest $BROCCOLI token has a dev holding a massive supply, making it centralized.

• Binance won’t list a memecoin controlled by a single entity—they want to see decentralized ownership.

CZ himself said, "Let the best meme coin in the community win." One of the “Broccoli” tokens on BNB Chain currently has a $92M marketcap.

BNB Chain Wins Big

Even though CZ didn’t launch a token, this entire saga massively boosted trading volume on BNB Chain.

• BNB’s price surged 15% in a week, flipping Solana in market cap.

• The memecoin trend helped drive liquidity and activity to BNB Chain, reinforcing it as a top memecoin network.

NOTE: Be very careful here. Tons of scammers are taking advantage of the hype by creating and rugging their own “$BROCCOLI” tokens.

The Libra Disaster – A Presidential Memecoin Scam?

Believe it or not, BROCCOLI wasn’t the biggest memecoin news this past week. On February 15, 2025, Argentina’s President Javier Milei promoted a memecoin called $LIBRA in a now-deleted tweet.

He called it a private project aimed at supporting Argentina’s economy. Within 40 minutes, the token’s market cap surged to $4.4 billion. Hours later, it lost 95 percent of its value as insiders dumped their holdings.

Milei has since tried his best to explain his actions.

How the Crash Happened

Minutes after the price peak, blockchain analysts noticed massive sell-offs from large wallets. The drop accelerated when Milei deleted his tweet and denied any official involvement.

• Large investors started dumping in batches of $50,000 to $300,000

• Insiders made over $150 million before the market reacted

• $LIBRA’s price collapsed by 95 percent within seven hours

By the end of the day, the token’s market cap had fallen below $200 million, wiping out $6 billion from the memecoin market.

Insider Manipulation

Blockchain analysts have linked Libra ($LIBRA) to other questionable crypto projects, including Melania Trump’s memecoin ($MELANIA), raising concerns about insider manipulation.

Chaofan Shou, co-founder of Fuzzland, revealed that LIBRA’s market maker is based in Delhi and was also involved in the MELANIA token. His research shows that the same group has been behind other pump-and-dump schemes, including $ENRON, $OGME, and $AIAI.

These tokens followed a similar pattern—rapid price surges due to insider trading and bots, followed by massive crashes, leaving retail investors with losses.

Shou’s investigation also points to a key figure controlling the M3M3 Launchpad, which allegedly provides insider information and funding for these projects. His findings suggest that some memecoins may have backing from politically connected individuals.

Summing It All Up

Nothing sums up the market right now better than a man’s dog causing scams, pump-and-dumps, and wild speculation. Oh, and in case we forget, the president of a country allegedly initiated a pump-and-dump as well.

What a wild time we live in.

For better or worse, memecoins continue to dominate the narrative. We just hope to see some real innovation soon. But as they say, don’t hate the player, hate the game.

Plenty of traders have made millions from these obscure memecoins. However, these coins move so fast that if you don’t get in early, you’ll end up as exit liquidity for the early movers.

To help you spot the best entry and exit opportunities, we’re inviting you to the Coiners Trenches Telegram channel. Get the best crypto alpha delivered straight to your pocket.