This paper studies the stabilizability of an n-dimensional quantized feedforward nonlinear system. The state of that system is first quantized into a finite number of bits, and then sent through a digital network to the controller.We want to minimize the number of transmitted bits subject to maintaining asymptotic stability. In the prior literature, n bits are used to stabilize the n-dimensional system by assigning one bit to each state variable (dimension). Under the stronger assumption of global Lipschitz continuity, this paper extends that result by stabilizing the system with a single bit. Its key contribution is a dynamic quantization policy which dynamically assigns the single bit to the most "important" state variable. Under this policy, the quantization error exponentially converges to 0 and the stability of the system can,therefore, be guaranteed. Because 1 is the minimum number of quantization bits (per sampling step), the proposed dynamic quantization policy achieves the minimum stabilizable bit number for that n-dimensional feedforward nonlinear system.