CZ, Binance Co-Founder, Denies Any Ties to Memecoin GIGGLE After Its Price Plummets 30%
- What Sparked the $GIGGLE Price Crash?
- Behind the Scenes: Whales and Wash Trading
- Charity Angle: Binance’s Surprising Move
- Expert Warnings and Market Realities
- FAQ: Your $GIGGLE Questions Answered
In a dramatic turn of events, Binance co-founder Changpeng Zhao (CZ) has publicly distanced himself from the memecoin $GIGGLE, which saw a 30% price drop following his tweet. The token, initially buoyed by speculation of Binance's involvement, now faces volatility as experts warn investors. Meanwhile, Binance pledges to donate 50% of trading fees to the Giggle Fund, adding a charitable twist to this crypto saga.
What Sparked the $GIGGLE Price Crash?
On November 3, 2025, CZ took to X (formerly Twitter) to clarify:This single tweet sent the token into a tailspin, erasing weeks of gains that had been fueled by rumors of Binance’s backing. Data from CoinMarketCap shows $GIGGLE’s market cap nosedived 28% overnight to $58.75 million.
Ironically, the same exchange that initially boosted $GIGGLE—Binance—became its undoing. The token had rallied 1,532% monthly after listing rumors surfaced, only to collapse when CZ pulled the rug on speculation. As one BTCC analyst quipped,
Behind the Scenes: Whales and Wash Trading
Blockchain sleuths uncovered eyebrow-raising activity:
- A single wallet spent $1.2M USDT acquiring 4,794 $GIGGLE at $251 per token
- That wallet now holds 99.4% of its assets in $GIGGLE—worth under $1M after the crash
- Technical indicators show no bullish divergence on the 2-hour RSI, suggesting further declines
Charity Angle: Binance’s Surprising Move
In a plot twist, CZ praised $GIGGLE’s philanthropic impact:Starting December 2025, Binance will donate 50% of spot and margin trading fees to Giggle Academy’s educational projects. To date, the fund has raised $6.39M in USDT, USDC, and BNB donations.
The Giggle Fund team tweeted:Meanwhile, skeptics question whether the charity narrative can stabilize the token’s wild swings.
Expert Warnings and Market Realities
Crypto analysts highlight three red flags:
- Concentration risk: Over 10,000 wallets hold $GIGGLE, but whale dominance remains extreme
- Exchange dependence: The token’s fate hinges disproportionately on Binance’s actions
- Memecoin volatility: Unlike Bitcoin or Ethereum, these tokens lack fundamental anchors
As one trader lamented on Reddit:With Aster DEX listing rumors circulating, $GIGGLE’s rollercoaster ride may not be over.
This article does not constitute investment advice. Cryptocurrencies are highly volatile—never invest more than you can afford to lose.
FAQ: Your $GIGGLE Questions Answered
Did CZ create $GIGGLE?
No. CZ explicitly denied any involvement with the token on November 3, 2025, causing its price to drop 30%.
Why is Binance donating fees?
Despite distancing from $GIGGLE, Binance supports Giggle Academy’s educational mission through fee donations starting December 2025.
Can $GIGGLE recover?
Market data shows weak technicals, but memecoins often defy logic. The upcoming Aster DEX listing could spark volatility.
