CZ criticizes CZSTATUE "money-making": "golden statue" Meme coin pumped 27,000% and then dropped to zero.

CZ recently publicly condemned a BNB Chain meme coin inspired by him, called CZSTATUE, labeling it as a “money-grabbing project” and urged investors not to buy it. This meme coin surged over 27,000% within hours of its launch, reaching a market capitalization of up to $6.8 million, with a 24-hour volume exceeding $20 million. However, shortly after CZ's remarks, the token immediately experienced a big dump of 99%, almost dropping to zero, becoming yet another typical meme token “土狗” project and speculative bubble burst.

CZ Warning: CZSTATUE is just a “money-making” tool

After the CZSTATUE meme coin suddenly appeared on the BNB Chain and began to surge wildly, CZ immediately issued a statement on platform X, publicly distancing himself from the project. He clearly warned users not to purchase the token that claims to pay homage to him under the banner of “golden statue.”

CZ pointed out candidly: “While I appreciate this attitude, it's clear that the creator just wants to make a quick buck through interaction with me. This is a behavior I do not appreciate. Do not buy this meme token.”

He humorously expressed his disgust towards such acts of personal worship, stating that wearing a T-shirt with one's own face or having one's own statue reflects more of “selfism” rather than true respect. His warning comes at a time when the token is gaining massive speculative popularity on decentralized exchanges (DEX).

The Crazy Speculation of Meme Tokens: From a 27,000% Surge to a 99% Big Dump

Despite CZ's warning, market speculation enthusiasm remains ignited. Shortly after CZ's post, trading activity of CZSTATUE surged rapidly.

• Peak data: The market capitalization of this meme token surged from 3 million USD to 6.8 million USD in just one hour, creating a 24-hour volume of up to 20 million USD.
• Drop to zero: According to a report by the crypto analysis company Nansen, within hours after reaching a valuation peak of 5.1 million dollars, the value of CZSTATUE fell by 99%, nearly dropping to zero, completely confirming Zhao Changpeng's prediction of “money grabbing.”

Analysts have raised serious concerns about the token allocation of this Token. Data shows that over 15% of the supply is held by a newly created wallet, strongly suggesting the presence of insider manipulation or an unfair token economic model.

BNB Chain Meme Token Craze and Community Sentiment

The emergence of CZSTATUE coincides with the widespread rebound of BNB Chain meme tokens. Previously, CZ publicly praised the creativity of the community, and since then many projects on the BNB ecosystem have begun to rise in popularity on DEX.

It is worth mentioning that some meme token projects related to CZ's charitable endeavors have made positive progress. For example, the meme token GIGGLE, associated with CZ's charitable education project Giggle Academy, recorded an astonishing increase of over 700% earlier this month, reaching an all-time high. The project reportedly raised $5.5 million through transaction fees, converting over 1,300 BNB into funding for educational programs.

In addition, the news of CZ receiving a pardon from President Trump has brought positive sentiment and gains to projects supported by the community and exchanges. However, the CZSTATUE event has once again reminded investors of the high risks and enormous speculation in the meme tokens space.

Conclusion

CZ's public condemnation of CZSTATUE is not only a declaration of his moral stance but also a strong call for investors to remain clear-headed in the frenzy of the meme coin market. The project's “one-round game” trend from a big surge to a collapse profoundly reveals that many meme coin projects lack fundamental value support and are highly speculative and easily manipulated “meme tokens.” Investors should always be vigilant against projects that use celebrity effects or rapid hype to implement “pump and dump” strategies.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.