Volatility Ensues After CZ Follows, Unfollows Changpump Zhaoge

Here’s what you need to know about what happened after CZ followed and unfollowed Changpump Zhaoge on Twitter.

CZ Follows Changpump

On 15th July 2022, Changpeng Zhao (CZ), CEO of the world’s largest centralized exchange Binance, followed the Twitter account of the $ZHAO token, a new and rapidly growing token on BNB Chain. Here’s what you need to know about the interactions between CZ and Changpump Zhaoge.

CZ’s first interaction with the token was some minutes earlier, praising the tattoo a community member got of the coin’s mascot and the BNB logo on his arm, before deleting it a few moments later.

Just an hour later, CZ responded to a Binance community member agreeing to follow @ChangpumpZhaoge on Twitter, although he expressed his skepticism at following a new account. The interest caused by this caused the market cap to triple in around half an hour, before he came out saying that he did not endorse coins without utility or those that carry people’s names with no connection to the namesake. 

Huge volatility followed, with the coin dropping from around $2.8m market cap to a low of $400k in the space of an hour, stabilizing at around $800k.

What is Changpump Zhaoge:

Changpump Zhaoge (ticker: $ZHAO), is a new BNB Chain token that aims to make BSC onboarding more accessible and easy for all. This will be accomplished through easy how-to documents and eventually a Web3 platform that rewards users for content that helps others understand how to use the network.

The team is composed of BSC veterans with the core team made up of former DogeBonk Community members, all of whom are taking aim at Dogelonmars, another token inspired by famous billionaire Elon Musk, as the first market cap goal to flip. 

“Dogelonmars may have comics and the methuselah foundation, but $ZHAO is aiming much higher, to help bring #BNB and Binance Smart Chain to the world,” said one anonymous community member.

The team has just released a mockup of their Web3 Community Learning Platform, adding utility to their token to help address CZ’s concerns.

Where to find Changpump Zhaoge:

Website | Twitter

Source : bsc.news

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