Key Notes

Key Notes:

Changpeng Zhao has seen memecoin launch named after his dog.The crypto industry is fond of launching tokens after popular industry leaders.Memecoin launchpads like Springboard makes launching these tokens easier.

Despite his experience in the digital currency ecosystem, Binance Founder Changpeng ‘CZ’ Zhao has sparked a new memecoin frenzy on X. Taking to the social media platform, CZ posed what he termed as a newbie question to his more than 9.8 million followers. This question bothers on multiple memecoins created to supposedly match his dog’s identity.

Per the question, he sought to know how the process of creating memecoins really works. In an earlier interaction with a post from Alistair Milne regarding Bitcoin price crossing key milestones, he mentioned that he owned a dog. However, he clarified that the dog was a Belgian Malinois, not the more widely popular Shiba Inu.

Immediately, an X user Crypto Kemal demanded to know the name and photo of the dog. This is typically the basic requirement to create a matching memecoin for the Belgian Malinois. Reacting to this, the Binance CEO sought to know whether sharing names and photos is all that is needed for one to create a memecoin.

His curiosity came with a slight confusion as he wondered how community members would know which token was the official one.

Honest newbie question. How does this work? I share my dog’s name and picture, and then people create memcoins? How do you know which one is “official”? or does that even matter?

(I see many people asking for a name and a picture. 😂) https://t.co/ZcvEhzgwmM

— CZ 🔶 BNB (@cz_binance) February 12, 2025

Meanwhile, this fear is playing out in the market with at least four related tokens created based on this conversation.

The growing tokens include Cleo, Biggie, Semyon, and Maui. Per data from DexScreener, Cleo has already a $2.2 million market capitalization with at least 5,570 buyers as of the time of writing. While it remains unknown how the volatility will shape these assets moving forward, it showcases how the crypto market picks on crypto leaders to launch memecoins.

With platforms like Pump.Fun on Solana and Springboard on PancaakeSwap, token launches are now very easy. Preying on popular trends predates Binance’s Founder. Over the past year, community members have created memecoins to track Solana Founder Anatoly Yakovenko’s dog modeled after Charles Hoskinson’s pig.

Memecoin creation is becoming more cultural in different ways, a trend that is also seen in the very viral events in the industry. When Kabosu, the dog that inspired Dogecoin and Shiba Inu, died last year, several alternative tokens were launched.

This same trend was recorded with Peanut the Squirrel, who died after being maltreated by US authorities. With no regulations around memecoin creations, it remains to be seen how many alternative assets will emerge in the near future.

With asset managers like Tuttle Capital and Rex-Osprey now seeking ETF products for memecoins like Dogecoin and BONK, more creators might launch more tokens moving forward.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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