Former Brazilian football legend Ronaldinho Gaúcho has officially introduced his STAR10 token on the Binance Smart Chain, signaling a new chapter in his digital presence.
The unveiling of STAR10 follows Ronaldinho's caution against counterfeit meme coins utilizing his name without authorization. Assuring his followers of impending significant revelations, he teased at exciting developments for the community.
Ronaldinho Unveils STAR10
Shared through his official X account, Ronaldinho portrayed STAR10 as more than a mere token but rather as a "legacy in the making," embodying greatness and unwavering spirit.
"My exclusive and official token is now live! Let's honor greatness, enthusiasm, and that timeless spirit," he expressed enthusiastically.
STAR10 promises one-of-a-kind perks, such as autographed memorabilia, practical benefits, interactive competitions, and AI-driven insights tailored for the holders.
Beyond collectibles, STAR10 opens doors to exclusive encounters with Ronaldinho, privileged access to inner workings, and exclusive gatherings. Furthermore, holders enjoy first dibs on exclusive releases, digital assets, and forthcoming ventures.
"While many meme coins come and go, STAR10 is crafted with a forward-looking perspective, delivering tangible worth beyond the digital realm," the website emphasized.
The total supply of STAR10 tallies up to 1,000,000,000 tokens, with allocations diversified among liquidity, public distribution, Ronaldinho, marketing, operations, the team, and a centralized exchange (CEX).
Upon its debut, STAR10 experienced a surge in market cap, swiftly climbing to an impressive $300 million. However, the initial euphoria was countered with a subsequent dip to $200 million shortly after.
As of the most recent update, STAR10 was valued at $0.23, boasting $17.9 million in liquidity, and a market cap of $238.6.
STAR10's Price Performance. Source: DEXScreener
Nevertheless, the buzz surrounding STAR10 has taken a turn as on-chain data raised suspicions of insider trading. Per Onchain Lens findings, an insider close to Ronaldinho reaped a $4.94 million profit.
The individual initiated their investment by acquiring 20.79 million STAR10 with 48 BNB ($29,247), selling a fraction—119,278 tokens—for 54 BNB ($33,106), ensuring an instant profit.
The bulk of their holdings amounting to 20.68 million tokens reflect a current value of $4.93 million, sparking concerns regarding possible maneuvering.
Consequently, the response from the community has shifted to cautious skepticism, with many alerting of a potential rug pull.
"Here we go again, if you remember MELANIA, CAR, LIBRA you know what I mean," one user cautioned.
The prevailing skepticism traces back to recent crypto controversies surrounding new meme coins, exacerbated by Ronaldinho's past involvement in crypto issues, including the disputed "18kRonaldinho" association, a claim he refutes, alarming stakeholders and heightening distrust linked to the STAR10 token introduction.