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WATER

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Soccer legend Ronaldinho Gaúcho has become the latest celebrity to enter the crypto space with the launch of his memecoin, Star10 (STAR10), on the BNB Chain.
Promising exclusive experiences, signed collectibles, and even access to his AI agent, Ronaldinho described Star10 as a token for those who “want to be part of history.” The token also features a 5% fee allocation for social causes selected by the community.
Within just 10 hours of launch, Star10 peaked at a $397 million market cap before pulling back to $274 million, according to Dexscreener. However, the memecoin’s structure raised red flags among industry watchers.
Concerns stemmed from the tokenomics, which allocated 35% of the total supply to insiders—20% for Ronaldinho and 15% for the team. Given recent high-profile memecoin collapses, including the $4 billion crash of LIBRA, investors remain cautious about liquidity risks.
Blockchain analysts flagged additional security issues. Initially, Web3 security firm GoPlus Security warned that the contract allowed the creator to burn any holder’s tokens, raising concerns about possible asset destruction. However, SlowMist later confirmed that the contract’s ownership had been renounced, eliminating that risk.
With memecoins gaining popularity among <a href="https://financefeeds.com/lionel-messi-drives-water-meme-coin-up-350/" rel="noopener noreferrer nofollow">celebrities and influencers</a>, investors face an increasingly blurred line between collectibles and frauds.
World-renowned soccer player Lionel Messi also promoted a Solana-based&nbsp;<a href="https://financefeeds.com/meme-stock-lawsuit-against-robinhood-nears-resolution/" rel="noopener noreferrer nofollow">meme coin</a>&nbsp; on his Instagram story, prompting a 350% surge in the token’s price.
Messi, the winner of a record-breaking seven Ballon d’Or Awards, shared an image featuring the token’s mascot, a cartoon glass of water, perched on his shoulder, with a link to the project’s Instagram page. Following the post, WATER jumped from $0.00032 to $0.00146 in two hours, a surge of 356%.
<a href="https://financefeeds.com/plaintiffs-seek-to-serve-cristiano-ronaldo-in-binance-lawsuit/" rel="noopener noreferrer nofollow">Cristiano Ronaldo</a> also launched his fourth non-fungible token (NFT) collection in collaboration with Binance. However, his involvement has not been without controversy. The football star faced a class action lawsuit in a United States district court in Florida related to his previous participation in NFT sales with Binance.
The plaintiffs allege that Ronaldo’s endorsement led them to make investments that resulted in significant losses. They are seeking damages exceeding $1 billion.
Previous NFT collections featuring Ronaldo offered perks beyond the digital space, including premium experiences such as opportunities for holders to play football with Ronaldo as part of Binance promotions.
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Ronaldinho joins Messi and Ronaldo with new memecoin

FinanceFeeds

Other articles published on Mar 3, 2025

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