- The token surged 150.5% in 24 hours, fueled by whale investments and community hype.
- Critical Price Levels – $0.1809 serves as resistance, while $0.05192 is a key support level amid high volatility.
- A $2.54M investment in Broccoli-related meme coins sparked further speculation in the market.
Ever since Former Binance CEO Changpeng Zhao (CZ) introduced his pet dog Broccoli to the cryptocurrency world, the BROCCOLI coin price has recently risen. Additionally, the price surge is also driven by whales investing millions into two meme coins called “Broccoli.”
The cryptocurrency CZ’S Dog (BROCCOLI) was currently trading at $0.1304, reflecting a massive 150.5% increase over the past 24 hours. This sudden price increase indicates strong bullish momentum, possibly driven by investor hype, whale accumulation, or positive market sentiment.
Key Resistance and Support Levels: Can BROCCOLI Break $0.18?
The price has experienced substantial volatility ranging from $0.05192 to $0.1809. The token maintains its position close to the 24-hour peak which indicates $0.1809 could function as resistance and $0.05192 establishes its recent low as support.
The significant increase in BTC value (0.1592 BTC, also up 196.5%) reinforces the strength of the rally. If the bullish momentum continues and $0.1809 is broken convincingly, the price could surge towards $0.20 – $0.22. A substantial rise in selling pressure would likely drive the price back to $0.10-$0.12 but the main support level exists at $0.05192 in case of an accelerated downward movement. Next price movement depends on volume along with market trends while traders must wait for confirmation signals to determine the next move due to current market volatility.
Massive Whales Investing Contribute To the Surge
According to data from Lookonchain, a whale recently invested $2.54 million in two memecoins named after Binance founder Changpeng Zhao’s (CZ) dog, Broccoli. One coin showed a 24.7% gain, amounting to a $530,500 profit, while the other recorded a 68.1% loss, translating to $302,400 in negative returns. The investment decision sparked discussions within the crypto community, raising questions about investor strategies, and memecoin sustainability.Market confidence remains mixed—some traders may ride the bullish wave, while others fear a potential downturn.
Market analysts suggest that the exact causes driving these market movements remain unclear although speculative evidence connects to CZ sharing his pet dog’s image. This came after a question about CZ’s lack of a pet dog which triggered his X post leaving many speculating the emergence of another memecoin. The memecoin sector remains unpredictable, with investor sentiment shifting rapidly based on hype, social media influence, and whale activity. The market will likely watch for further whale movements.
