The CZSTATUE meme coin, linked to a golden statue of Binance founder Changpeng Zhao, surged over 30% in market value to $4 million shortly after Zhao warned against buying it on social media, highlighting the volatile nature of meme tokens driven by social buzz.
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CZSTATUE meme coin jumps amid controversy: The token reached a peak market cap of $6.8 million before settling at $1.1 million, fueled by Zhao’s public statement.
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Trading volume hit $20 million in 24 hours, per data from crypto analytics provider DEXTools.
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Statue creators plan to gift or auction the 14-foot artwork to support Zhao’s nonprofit, despite his rejection.
Discover how the CZSTATUE meme coin surged despite Binance founder CZ’s warning not to buy it. Explore the statue controversy and meme token volatility in this crypto news update. Stay informed on the latest developments.
What is the CZSTATUE Meme Coin?
The CZSTATUE meme coin is a BNB Chain-based token created to tie into a 14-foot golden statue of Changpeng “CZ” Zhao, the founder of Binance. Launched earlier this week, it references a four-fingered gesture popularized by Zhao in 2023 to dismiss fear, uncertainty, and doubt in the crypto space. The token’s smart contract address ends in “4444,” symbolizing this gesture, and it quickly gained traction amid social media discussions surrounding the statue unveiled in Washington, D.C.
Why Did the CZSTATUE Meme Coin Surge After CZ’s Warning?
The CZSTATUE meme coin experienced a rapid surge, peaking at a $6.8 million market capitalization before stabilizing around $1.1 million, largely due to heightened attention from Zhao’s social media post on October 29, 2025. In the post, Zhao expressed appreciation for the statue’s gesture but cautioned that its creators likely aimed to profit from his name, stating, “While I want to appreciate the gesture, the fact that there is a meme coin associated with this means the creator probably just wanted to make a quick buck off an interaction with me. This is something I don’t appreciate. Don’t buy the meme.” This statement, shared on the platform formerly known as Twitter under his handle @cz_binance, ironically boosted visibility and trading volume to $20 million over the past day, according to data from DEXTools. The surge illustrates the hypersensitivity of meme coins to celebrity mentions, where even negative publicity can drive short-term price volatility. One of the statue’s creators, Nick Zee, noted the disappointment over copycat tokens, saying, “They’re like hyenas. I used to love the space, but I just came to the conclusion that nobody’s genuine, nobody’s honest. Everyone’s here for one thing: to make money off you.” Despite the warning, the official token increased 30% in value over 24 hours, underscoring the speculative dynamics in the meme coin market.
Frequently Asked Questions
What prompted the creation of the CZSTATUE meme coin and statue?
The CZSTATUE meme coin and accompanying 14-foot golden statue were funded by an anonymous collective of donors who contributed $50,000. The project, unaffiliated with Binance, aims to honor Zhao following his recent presidential pardon and highlight his contributions to crypto education. Creators intend to gift the statue to Zhao or auction it to benefit his educational nonprofit, though Zhao has stated he would never accept it.
How does social media influence meme coin prices like CZSTATUE?
Social media plays a pivotal role in meme coin pricing, as seen with CZSTATUE’s surge after Zhao’s post. High-profile figures like Zhao or Elon Musk can spark rapid buying frenzies through sheer visibility, leading to volumes like the $20 million recorded. This attention economy makes such tokens prone to extreme swings, rewarding quick reactions but demanding caution from investors.
Key Takeaways
- Meme coin volatility: CZSTATUE’s price jumped from $3 million to $6.8 million in hours, then fell to $1.1 million, showing how social media warnings can paradoxically fuel short-term gains.
- Creator intentions: Funded by $50,000 from donors, the statue project seeks to support Zhao’s nonprofit, but copycat tokens have muddied the narrative, as noted by creator Nick Zee.
- Regulatory context: Zhao’s pardon last week, amid Binance’s $4.3 billion settlement and ties to projects like World Liberty Financial, adds layers to the story, prompting criticism from figures like Senators Elizabeth Warren and Adam Schiff.
Conclusion
The surge of the CZSTATUE meme coin despite Changpeng Zhao’s explicit warning exemplifies the unpredictable allure of meme tokens in the crypto ecosystem, where social media buzz can eclipse cautionary advice. With trading volumes reaching $20 million and ongoing debates around the statue’s legitimacy, this event highlights broader tensions in meme coin markets and high-profile pardons like Zhao’s. As the space evolves, investors should prioritize due diligence, and creators like Nick Zee continue pushing for genuine tributes amid opportunistic trends—watch for potential auctions or further statements that could shape the meme coin landscape.
