A cryptocurrency trader made nearly $28 million in profit by investing in memecoins inspired by Binance
$9.62B
co-founder Changpeng “CZ” Zhao’s dog.
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
$658.44
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.
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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
$97,554.55
block. How much BTC did he earn? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
