PALU Surges To $100 Million in Market Cap Amidst CZ's Soft Shilling and BNB Meme SZN Calls

Key Takeaways:

• PALU, one of the top meme coins on the BNB Chain, has hit a market cap of $100 million, following an interaction from Changpeng 'CZ' Zhao.
• CZ posted "Who dis?" in reaction to a cartoon version of himself, which serves as PALU's official avatar.
• The Binance co-founder also posted "BNB meme szn!," sparking major price increases in the BNB Chain meme coin ecosystem.

In recent weeks, the meme coin ecosystem of the BNB Chain has been booming, with new projects coming up. Amidst the ecosystem growth, one meme coin has captured significant attention: Palu ($PALU). 

The market cap of PAUL hit the $100 million milestone after an increase of more than 2,200%. PALU's surge comes after subtle endorsements from Binance founder Changpeng Zhao (CZ) and a growing meme coin narrative tied to the BNB ecosystem.

CZ's Subtle Endorsement Pushes PALU To $100M Market Cap

Palu (PALU) is a new community-driven meme coin project that traders have dubbed the “Binance mascot” because it uses an image that is inspired by Binance founder CZ and the visual gag of his "bald-to-hair" transformation.

On Tuesday, October 7, a crypto enthusiast, TCryptochicks, posted this cartoon avatar of CZ on X, with the caption, “Who dis?” CZ reacted to the post with “Who dis? 😂.” In a surprising move that appeared like an endorsement, CZ also shared the original tweet.

Although there wasn’t an explicit endorsement from CZ, his engagement was enough to ignite speculation, especially in the meme coin space. Repeating a trend that we know all too well, within minutes of CZ’s engagement with the project on X, the price of $PALU began to pump. 

$PALU now trades at $0.08600, up from $0.00587 on Monday, October 6. Data from TradingView shows that the price of PALU has increased by more than 2,200% in the last 24 hours. The price of 

Thanks to this massive price pump, the market cap of Palu crossed the $100 million mark, a milestone that only a few meme coins have reached. At the time of this writing, the market cap of PALU sits around the $87 million mark, per CoinMarketCap.

We Are in a BNB Meme Coin Season

The price pump of $PALU is a trend that we are seeing throughout the BNB Chain meme coin ecosystem. The prices and trading volumes of BNB meme coins have been skyrocketing to new all-time highs, just like the native BNB tokens.

CZ has responded to the trend, posting that we are in the “BNB meme szn!” The Binance co-founder adds that he didn't expect this at all, urging people to keep building.

At the time of this writing, data from DEXScreener shows that 19 of the top 20 trending coins over the last six hours are on BNB Chain, with the only exception being a Solana meme coin.

Bubblemaps, a visual intelligence layer, confirms the BNB SZN, posting that over 100,000 on-chain traders have bought into new memecoins on the BNB Chain, with more than 70% currently in profit.

In Summary

PALU’s ascent to a $100 million market cap is a fascinating case study of how market dynamics interplay with influencer sentiment and seasonal meme hype. CZ’s soft shilling and the broader BNB-powered Meme SZN created a fertile environment for PALU’s breakout. 

While the surge embodies the power of narrative and crypto community enthusiasm, investors should balance excitement with prudent risk management.