Changpeng Zhao, the co-founder of Binance, has announced that the GIGGLE memecoin is not an official coin of the Giggle Academy and has denied any knowledge of who launched it. As a result, the price of the Token has tanked up to 30%.
On his socials, CZ wrote, “The $Giggle meme coin is NOT an official coin launched by GiggleAcademy. I don’t know who launched it.”
The GIGGLE memecoin has declined since its all-time high. However, it fell even more sharply today after CZ’s tweet. The surge was attributed to its recent debut on Binance, but now the token has tanked because of Binance. This highlights that the token is at the mercy of Binance.
Experts warn investors about $GIGGLE coin’s volatility
As reported by Cryptopolitan, GIGGLE’s surge comes on the backdrop of Binance’s x402 micropayment technology and a partnership between BNB Chain and RedstoneFinance.
Whales had been actively buying up the token, including one wallet that spent $1.2 million in USDT to purchase 4,794 tokens at an average cost of $251 each. Blockchain data indicate that the same whale wallet now holds 99.4% of its assets in GIGGLE, currently valued at under $1 million.
On-chain data indicates that the token’s market cap now stands at $58.75 million, marking a 28% decline from the previous day. Still, the recent correction has wiped out much of the gains made after the Binance announcement, which had previously sparked a 91% weekly increase and a 1,532% surge over the past month.
The absence of a bullish divergence in the two-hour RSI indicates that the downward trend is likely to persist.
However, a breakout from the diagonal resistance trend line could invalidate this bearish GIGGLE price prediction. GIGGLE remains the choice by smart money wallets in the Binance ecosystem, along with other hot memes, and is expected to start trading on Aster DEX, tapping whales through dark pool trading.
Binance to support transaction fee donation for the Giggle Fund
Even after bursting the bubble that kept $GIGGLE afloat, CZ praised the coin, saying, “It’s good to see it generated so many donations. Not surprised to see Binance donating its fees.”
He said that Binance will donate 50% of the transaction fees generated from Giggle Fund Spot and Margin trading to support charitable projects championed by Giggle Fund starting December 2025.
The Giggle Fund memecoin runs on the BNB Smart Chain. Many children have benefited from Giggle Academy’s conversion of trading fees into donations.
To date, Giggle Fund has raised $6.39M in donations, going toward Binance’s Giggle Academy. The donations are in the form of USDT, USDC, and BNB tokens. Up to 10,000 wallets already own the coin, according to market data.
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