Changpeng Zhao, the founder of the world's largest cryptocurrency exchange Binance, revealed that he owns a dog. This statement has sparked interest due to previous instances where such news led to the launch of memecoins associated with the pets of well-known figures.
How One Message Can Influence the Market
Changpeng Zhao, founder of Binance, shared that he has a dog. This caused a wave of discussion in the cryptocurrency market, as past instances show that such information could lead to the creation of memecoins.
Memecoin Market: Example from Elon Musk
An example from Elon Musk demonstrates that memecoins related to his dog Floki have achieved considerable success. Floki Inu, the memecoin named after Musk's dog, has a market cap of over $900 million at the time of writing.
Changpeng Zhao's Reaction and Possible Developments
Changpeng Zhao was surprised when people started asking for the name and photo of his dog to potentially create a memecoin. He posed an honest question regarding how such schemes work and how the 'official' memecoin is chosen: "Honest rookie question. How does this work? I post my dog's name and picture and then people create memecoins? How do you know which one is the 'official' one? Or does it even matter?"
Events surrounding Changpeng Zhao's announcement show the potential impact of such news on the crypto market. Given recent developments, the emergence of a new memecoin is not unlikely, and it is worth following up on updates from the Binance CEO.
