Ronaldinho’s STAR10 memecoin crashes 60% in two days amid insider concerns and security flaws
Crypto
Ronaldinho’s STAR10 memecoin crashes 60% in two days amid insider concerns and security flaws
Brazilian football legend Ronaldinho Gaúcho’s highly anticipated STAR10 memecoin, launched on the BNB Chain on March 3, has dipped nearly 60% in value within 48 hours. It has declined from a peak market capitalisation of $397 million to just $12.28 million.
The rapid decline has fuelled widespread scepticism among investors and blockchain experts. The token’s controversial tokenomics, insider trading allegations, and initial security vulnerabilities have been cited as key reasons for its dramatic crash.
The STAR10 dramatic dip adds to a growing list of celebrity-backed cryptocurrency failures, drawing comparisons to the infamous $LIBRA token collapse endorsed by Argentine President Javier Milei.
Ronaldinho, a former Brazil and F.C. Barcelona superstar, unveiled STAR10 with much fanfare. It promised holders “exclusive experiences, real-world benefits, signed collectibles,” and access to an AI agent.
In an X post on March 3, he declared that the token was “built for those who want to be part of history,” leveraging his status as a soccer icon to drive initial hype. The coin surged to a $397 million market cap within 10 hours of launch, fuelled by his global fanbase and the speculative frenzy surrounding celebrity meme coins. However, the excitement quickly disappeared as red flags emerged, exposing structural weaknesses and eroding investor confidence.
