Ronaldinho's STAR10 Meme Coin Surges 150% After Security Fix

Ronaldinho's STAR10 Meme Coin Surges 150% After Addressing Security Concerns

Brazilian football legend Ronaldinho's foray into the world of cryptocurrency has seen a significant turnaround. His STAR10 meme coin, launched exclusively on the BNB Chain, initially faced security concerns and a rocky launch. However, the football icon swiftly addressed these issues, leading to a remarkable surge in the coin's value.

GoPlus Security, a blockchain security firm, raised alarm bells when it discovered a serious security risk in the STAR10 token. The owner of the token had the power to burn any holder's tokens at will, and ownership had not been renounced. This meant that all tokens were at risk of being destroyed without warning. Traders were advised to exercise extreme caution with this token.

Ronaldinho acted quickly to address these concerns. He renounced ownership of the STAR10 token and locked the tokens for 255 years. This move addressed GoPlus' main security concern, ensuring that tokens could not be destroyed or created without warning. In response to this action, the meme coin surged 150% before cooling off slightly.

Another surprising source helped fuel the meme coin's price gains. CZ, the former CEO of Binance, made a post about the token on social media. Although he did not make any actual positive statements about the coin, his acknowledgment of the project helped draw attention to it. CZ has a significant presence in the crypto community, and his offhanded social media statements have previously fueled giant meme coin races.

However, despite the recent surge in value, there remains skepticism about Ronaldinho's alleged past involvement in sketchy projects. This adds another layer to the ongoing celebrity meme coin saga, highlighting the chaotic nature of today's meme coin ecosystem.