Changpeng Zhao, the former CEO of Binance, sparked a frenzy in the cryptocurrency market by revealing the name of his Belgian Malinois dog, Broccoli, on social media. This announcement led to the creation of numerous Broccoli-themed memecoins across various blockchain networks, including BNB Chain and Solana, with platforms like Four.Meme and Pump.Fun seeing a surge in activity. Zhao clarified that he was not issuing a memecoin himself but suggested he might interact with popular ones on the BNB Chain. The surge in memecoin activity caused significant volatility, with one trader making $6.5 million in profits within 20 minutes of the announcement. However, many others faced substantial losses due to rug pulls and market fluctuations. The BNB Chain saw increased trading volumes, with PancakeSwap surpassing other decentralized exchanges in activity. Zhao had teased the reveal three hours in advance, setting the time for 8 p.m. Dubai time.