Broccoli Memecoin Boom Trader Gains $28M Amid Controversy

Following CZ Zhao’s announcement about his pet dog the cryptocurrency trader made $28 million through Broccoli memecoins creation. The trading profits make people suspect that crypto insiders helped push the memecoins toward their success.

On February 13 nce of hundreds of Broccoli-related memecoins. Data analysts at Lookonchain found an anonyZhao announced the name of his Belgian Malinois “Broccoli” which triggered the fast emergemous buyer had promptly acquired almost all Broccoli tokens from various launch services especially Pump.fun on Solana and Four.Meme on BNB Smart Chain.

“A sniper made $27.8M by sniping the memecoin named after CZ’s dog (Broccoli)!”

Broccoli Coin Brings Millions

As soon as CZ unveiled his dog’s name Broccoli this professional sniper bought all existing Broccoli-named meme coins. He shared Broccoli tokens across multiple receiving accounts for floor trading purpose. Lookonchain declared in their February 14 X post that this unknown trader collected 27.8M $USDT through these transactions.

Crypto traders search newly launched tokens quickly using technical indicators which helps them invest before larger traders enter the market. They make short-term profits through this process known as sniping. Because memecoins serve no real use they earn high profits primarily for market traders

During May 2024 a trader made $46 million from Pepe coin’s unexpected price rise after spending only $3000 and ending with $15,718. People now question the legitimacy of the Broccoli trader due to their high earnings

According to DoctorDeFi on Twitter most of the wallets connected to the Broccoli transactions belong to developers involved in developing specific Broccoli tokens. An X thread detected three more wallets related to the trader that contain stablecoins worth over $34.2 million in total. Experts now debate whether person(s) with inside knowledge helped the trader make millions.

“For context, this is not a sniper but Broccoli dev. In total, he made >$50M.”

According to Zhao his introduction of Broccoli did not include creating an official memecoin project but rather opened the market to independent developers.

The interest from investors in memecoins grew strongly after the January launch of TRUMP and MELANIA tokens on Solana. Experts say that the growing memecoin trend will attract more SEC attention because it shares connections between financial markets, celebrity endorsement, and political issues.