Ronaldinho Coin (Star10) has skyrocketed 80% following its launch on BNB Chain, drawing significant attention from investors. The football legend promoted the token on social media, celebrating its rapid rise and encouraging fans to invest.
However, Binance founder Changpeng Zhao (CZ) has issued a stark warning, urging caution amid the growing prevalence of meme coin scams and rug pull events.
CZ made it clear that Binance has no official affiliation with Ronaldinho or the Star10 token, warning traders against fraudulent versions on other chains. He emphasized that meme coins often experience extreme volatility and that trading volumes in this sector have been in decline. His post clarified, “This is NOT an endorsement. Ronaldinho’s STAR10 coin was launched on BNB Chain exclusively. Other chains’ coins are fake. Beware of scammers.”
The launch of Ronaldinho Coin follows a growing trend of celebrity-backed tokens. Figures such as Donald Trump, Argentina’s President, and rapper Kanye West have all been linked to personal cryptocurrencies, fueling speculation in the meme coin sector. However, many of these tokens lack long-term utility and are highly susceptible to price manipulation.
Despite Star10’s impressive debut, CZ’s warning highlights the risks investors face in the meme coin space. As celebrity tokens gain momentum, the crypto community is urged to exercise due diligence, conduct proper research, and remain cautious to avoid falling victim to scams or sudden price crashes.
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