Brazilian football legend Ronaldinho Gaúcho launched his official cryptocurrency, STAR10, on the Binance Smart Chain (BNB Chain), igniting both excitement and controversy within hours. Priced at $0.3855 at its peak, the token soared to a market cap of $397 million before settling at $274 million by March 3, per Dexscreener data. Touted as a bridge between football fandom and blockchain innovation, STAR10 promises exclusive perks like signed collectibles, VIP experiences, and AI-driven insights. Yet, its rapid rise has been overshadowed by allegations of insider trading and security vulnerabilities, raising red flags for investors and echoing crypto’s fraught history with celebrity-backed projects.
Ronaldinho announced the launch on X, proclaiming, “My new one and ONLY OFFICIAL token is HERE! It’s time to celebrate greatness, passion, and that legendary spirit that NEVER fades.” With a total supply of 1 billion tokens, STAR10 allocates 25% to liquidity, 20% for public sale, 20% to Ronaldinho himself, 15% for marketing, 15% to the team, and 5% for centralized exchange listings. The project pledges that 5% of fees will fund community-chosen social causes, blending philanthropy with Web3 ambition. Trading kicked off on PancakeSwap V3, with a 24-hour volume of $26.3 million by March 3, per CoinGecko, reflecting a 14.6% uptick from the prior day.
The token’s debut was electric. Within 10 hours, STAR10 rallied over 205,000% from its sub-penny start, hitting $0.3855 and briefly topping DEXScreener’s gainers list. By Monday, March 3, at 3:47 AM PST, it traded at $0.23—a 13% gain from its launch price—boasting a $238.6 million market cap and $17.9 million in liquidity. This outpaced many celebrity meme coins that fizzle fast, suggesting initial resilience. Yet beneath the hype, on-chain data paints a troubling picture.
Blockchain analysts at Onchain Lens uncovered a wallet tied to Ronaldinho’s team that turned 48 BNB ($29,247) into a $4.94 million unrealized profit. This insider bought 20.79 million STAR10 tokens pre-launch, sold 119,278 for 54 BNB ($33,106), and held 20.68 million now worth $4.93 million. Lookonchain flagged another wallet, linked to the STAR10 team, that spent 80 BNB ($50,000) to snag 122.45 million tokens—12.24% of the supply—then sold 1 million for 433 BNB ($270,000), retaining 121.44 million valued at $33.5 million. These moves, executed minutes after launch, suggest premeditated profiteering, fueling insider trading fears.
The community’s reaction on X is a mix of awe and skepticism. Some laud STAR10’s meteoric climb, with one user noting, “Ronaldinho’s token hitting $397M in hours is wild—meme coin season isn’t dead yet.” Others warn of a rug pull, citing past flops like Javier Milei’s LIBRA, which tanked 94% after insiders drained $107 million. “Here we go again—MELANIA, CAR, now STAR10,” one trader posted, referencing celebrity token busts. Binance founder Changpeng Zhao (CZ) weighed in, clarifying no affiliation with STAR10 and cautioning, “Meme coins are highly volatile—other chains’ versions are fake. Beware scammers.” His warning, while dampening hype, paradoxically sparked a brief rally past $0.30.
Security concerns compound the unease. GoPlus flagged STAR10’s smart contract, warning the owner could burn tokens at will or alter terms like fees and balances. Early fears of a “backdoor” prompted the team to renounce ownership by March 3, per SlowMist, locking liquidity indefinitely after an initial 30-day pledge. Still, the initial vulnerability—coupled with 35% of supply (20% for Ronaldinho, 15% for the team) in insider hands—raises questions about fairness. The Data Nerd noted five insider wallets added liquidity without selling, but the concentration of 80–86% of supply among early buyers suggests a snipe-heavy launch, skewing retail access.
Market context adds layers. Meme coins grabbed 31% of 2024’s crypto search interest, per CoinGecko, despite a string of flops. Trump’s March 2 push for a U.S. crypto reserve, naming XRP and others, has altcoins buzzing—STAR10’s timing taps this wave. Yet, a $1.5 billion Bybit hack last week and Bitcoin’s 25% drop from its $108,000 high remind us volatility cuts both ways. STAR10’s RSI at 62 nears overbought, and its $0.27 dip from $0.38 shows profit-taking. Support sits at $0.20; resistance at $0.38 looms large.
For Web3 readers, STAR10 is a litmus test. If the team delivers on VIP events and transparency, it could buck the celebrity curse. But the insider trades—$5 million here, $33 million there—echo a value-extraction playbook retail investors know too well. Ronaldinho’s legacy as a football icon is secure; his crypto gamble, less so. As March 7’s White House Crypto Summit nears, where policy clarity might lift all boats, STAR10’s fate hinges on trust it hasn’t fully earned.
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