In the continuously changing cryptocurrency sphere, meme coins have captivated the world as a blend of humor and pop culture, making them.
The latest coin to capture the imagination of dog lovers and memes comes courtesy of Changpeng Zhao, the founder of Binance, who is no stranger to cute dog-based appeals. Following his reveal (not a shocker, since CZ has been pretty open about other dog tokens) that he’s an owner of a Belgian Malinois, we saw a spike in not just one but several new dog-themed cryptocurrencies. One of the seemingly random ones that popped up was $BROWNIE, which briefly had the membrane of a “serious investment” and was, by all accounts, as close as a dog-themed coin could possibly get to the “moon.”
CZ’s Belgian Malinois and the Birth of a Memecoin Frenzy
It all started when CZ was in a public discussion and was asked about his pets. In a friendly and light manner, the billionaire founder of Binance revealed that he has a Belgian Malinois, which has since been the topic of several conversations and much speculation. The community picked up on this and, like the dog itself, ran with it. CZ humorously anticipated that they would soon make a memecoin based on the dog he owned. Following that lead, the community has not only speculated about what ‘$BROWNIE’ might be but is also just now getting started on the actual investments themselves.
Sniffing out an excellent meme opportunity, crypto enthusiasts met the idea of a CZ dog token with instant enthusiasm. Barely had the bark of $DOGE died down when coins related to man’s best friend began to appear, most stirringly the suddenly ambitious $BROWNIE. By mid-morning, both $PERRY and $Cleo seemed to be running neck and neck. Indeed, all the canine coins in the liquidity pool were clearly eager to pump up their values.
In the days immediately following its launch, $BROWNIE went far beyond the expectations of its creators and many investors, quickly shooting up to a market capitalization of more than $30 million. This was fueled not only by the connection to the Binance CEO’s personal life but also by the sheer absurdity of creating a dog-themed cryptocurrency in 2022, when such coins were rapidly becoming the dominant kind of meme in the crypto space. Forums and social media platforms were abuzz with $BROWNIE talk, with many conversing earnestly about its potential, believing it might be poised to dethrone even $SHIB, the reigning king of dog-themed crypto.
However, like any other meme coin, the volatility of this space soon became evident. After hitting an all-time market cap of more than $30 million, $BROWNIE took a hard dip down to a $21 million market cap. Even with this sharp turn in the opposite direction, the meme coin’s value has since shot up like a rocket to a price nearly 27,000% higher than what it was worth at the beginning of this year. As with most meme coins, though, it is impossible, even for the most astute financial analyst, to predict with any certainty where its price will go next.
Memecoins and Their Increasing Popularity
The cryptocurrency world is no longer a narrow niche, and neither are memecoins. Although many (like Dogecoin and Shiba Inu) began as humorous parodies or experimental projects, they have since become serious contenders within the cryptoeconomy. Their meteoric rise in popularity often derives from their potent social media alchemy, resulting in the appearance of viral trends. Like few other assets, they are able to harness the power of large online communities and the kinds of mass cultural references that at once both utterly baffle and fascinate onlookers.
$BROWNIE’s story, along with other dog-inspired coins, illustrates this dynamic perfectly. The dog meme coin trend was initiated by the spectacular rise of Dogecoin—a coin that started as a joke but later attained legitimacy and a strong following, propelled by celebrity endorsements and online memes. Other coins like Shiba Inu came along and followed in Dogecoin’s footsteps, further showcasing that these types of tokens can indeed experience meteoric growth when they strike a semblance of the right chord with the public.
CZ’s inclusion of his Belgian Malinois story seems to have become more than a personal tale—it became a trigger for a culture moment. In the crypto world, especially in memecoins, it’s often hard to predict what will pump and what won’t, but the surge of $BROWNIE to a near $50 million market cap speaks more about the power of social media and community in crypto than anything else.
With the emergence of more tokens related to dogs, the reaction of the market will be quite something to behold. The million-dollar question for this new token is, “Is it sustainable?” As we know, meme coins can fade away just as quickly as they become popular. Are some of the dog-themed coins going to achieve long-term sustainability, or are they just a new twist on the increasingly stale meme coin playbook? $BROWNIE certainly has the potential to surprise both investors and crypto enthusiasts.
The Future of Memecoins
Even though BROWNIE’s astonishing 27,000% rise is something to behold, the real issue is whether memecoins like this are capable of maintaining any worth over time. By their very nature, meme coins tend to be incredibly volatile, and their value often seems (and is) propped up by nothing more than hype, internet fads, and the sorts of things that make legions of fans and followers part with their cash—or part with more cash than they ought to—only to be followed later by a lot of moaning and groaning.
Yet, we can’t deny that the realm of cryptocurrency is ever-changing, emerging with new trends at breakneck speed. The dog-inspired memecoin craze, sparked by CZ’s Belgian Malinois, is yet another demonstration of how creative and, well, how unpredictable the crypto space as a whole can be. We may not know just yet what the next big thing is going to be, but it seems fairly certain that whatever it is, it will be with us before too long. And you can also be certain that our next big something will probably look a lot like our past big somethings.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.