Ronaldinho Gaúcho has launched a new cryptocurrency token called STAR10 on the Binance Smart Chain.
The token is aimed at offering holders exclusive benefits such as signed memorabilia and access to an AI-powered assistant. He promoted STAR10 on social media, inviting fans to join him.
Following its release, STAR10 saw an immediate surge in value, climbing over 20% and reaching a peak price of $0.2492. The token was trading at $0.23 at press time, reflecting a 13% gain since launch. With a circulating supply exceeding 82 million tokens, STAR10 has already amassed a market capitalization of nearly $20 million, with a fully diluted valuation of $241 million. Its trading volume has surpassed $26 million, according to data from CoinGecko.
The Brazillian football legend’s involvement in cryptocurrency has not been without controversy. In June 2024, he hinted at a return to the crypto industry, urging his followers to embrace digital assets. However, blockchain investigator ZachXBT reminded the public of Ronaldinho’s past associations with questionable crypto projects, including World Cup Inu, Atari Chain, Lord Society NFT, and meme coins like WATER and Baby Doge. Lionel Messi also endorsed the WATER coin alongside Ronaldinho.
One of the most significant scandals involving Ronaldinho’s name was the 18kRonaldinho project, a cryptocurrency initiative linked to a $61 million pyramid scheme that falsely promised investors daily returns of 2%. Although, he denied involvement, claiming his name and image were used without his consent.
The launch of STAR10 coincided with a surge in the memecoin sector, with the market cap increasing from $20 billion in January 2024 to over $120 billion by December. This 500% rise was fueled by social media hype, celebrity endorsements, and viral trends, boosting coins like DOGE, SHIB, and PEPE. DWF Labs noted that community engagement and aggressive marketing strategies were pivotal, while platforms like Twitter and TikTok played crucial roles in spreading ideas quickly and attracting influencers.
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