Ronaldinho's STAR10 Token Launch: Hype Fades Amid Concerns

Ronaldinho's Crypto Bet: STAR10 Token Launch Overshadowed by Concerns

Former Brazilian footballer Ronaldinho Gaúcho has launched his STAR10 token on the Binance Smart Chain, but the excitement surrounding the launch has been dampened by concerns and allegations of insider trading.

Ronaldinho initially warned fans about fake meme coins using his name and hinted at an upcoming big announcement. However, the launch of STAR10 has raised eyebrows among the crypto community, with many expressing skepticism and warning of a potential rug pull.

STAR10 is described as more than just a token, with Ronaldinho referring to it as a "legacy in the making." The token offers exclusive experiences, including signed collectibles, real-world benefits, community competitions, and AI-powered insights. Holders also gain VIP experiences, such as meet-and-greets with Ronaldinho, behind-the-scenes access, and private events.

However, the total supply of the token is 1,000,000,000, with 25% allocated for liquidity, 20% for public distribution, 20% for Ronaldinho, 15% for marketing and operations, 15% for the team, and 5% for centralized exchange (CEX) allocation. This distribution has led to concerns about the token's long-term viability and potential for manipulation.

Following its launch, STAR10 saw a rapid surge in market capitalization, reaching an impressive $300 million. However, its valuation quickly dropped to $200 million within hours. As of the latest update, STAR10 was priced at $0.23, with $17.9 million in liquidity and a market capitalization of $238.6 million.

On-chain data revealed alleged signs of insider trading, with an individual closely linked to Ronaldinho making an astonishing $4.94 million profit. The individual initially bought 20.79 million STAR10 with 48 BNB ($29,247) and quickly sold a fraction—119,278 tokens—for 54 BNB ($33,106), securing an immediate gain. The bulk of their holdings—20.68 million tokens—now hold an estimated value of $4