PHO Token price tripled after CZ said he loved pho

The price of PHO – the token of a lesser-named project – skyrocketed after billionaire Changpeng Zhao said “love pho” on Twitter.

According to data on CoinMarketCap, in the last 24 hours, PHO tokens from the price of $0.019 have risen to more than $0.05. But that token is currently down to 0.042 but still two times higher than the average in the previous days. Meanwhile, the Dextools broker displays a token price equivalent to $0.06. Around 23: 30 on June 3, the cost of tokens even soared to a peak of $0.27, more than 20 times higher than before.

The price increase came after billionaire Changpeng Zhao (CZ) commented on pho. Tweet “I love pho” posted by him last midnight, in which the word “Pho” was written in Vietnamese by the founder of Binance.

The post attracted more than 12 thousand likes, thousands of shares, and comments. An account called Lix shares a picture of a CZ-like person sitting at a diner in Vietnam, but the billionaire responds in a happy tone that it’s not him. When asked where to eat pho, CZ replied that it was “in the best place.” The crypto billionaire also told about how he became fond of pho 30 years ago when he was in Vancouver (Canada).

The token name that appeared in CZ’s tweet is believed to be the reason for the abnormal rise in the price of CHEESE. However, this token trading volume is relatively small, only several hundred USD. CZ also once said his principle was not to judge projects on personal pages.

Zhao is present in Vietnam, and he came to Hanoi on June 3 and participated in several blockchain events. One of the highlights of CZ’s visit is that Binance will announce cooperation on research exchange, blockchain technology application, and human resource training in the country.

PHO is the token name of the PhoSwap project. The project was inspired by the pho, with the logo in the shape of this dish. According to the name of the community on Telegram and Twitter, the project can be created by Vietnamese people in 2019. However, similar to many other memes coins, the project is almost inactive. Asymptotic copper trading volume is zero, and the community on Telegram has just over 2,500 members. PhoSwap’s Twitter page has more than 12 thousand followers but has stopped updating since 2021. After CZ tweeted, this account became active again and retweeted the post again.

CZ said he did not want to mention the name or comment on specific crypto projects when asked about the token.

It’s not uncommon for tokens to go up according to celebrity messages. In February, GameFi The Atlantis’ TAU token developed by the Vietnamese also increased in price almost twice after Elon Musk posted a letter mentioning the word.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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