Ronaldinho launches memecoin Star10 with 35% insider supply, market cap drops to $274M

From Cointelegraph

March 3, 2025 5:48:16 AM:

Soccer legend Ronaldinho Gaúcho launches memecoin Star10 on BNB Chain, promising exclusive experiences and benefits. 5% of fees will be donated to social causes. Market cap peaked at $397 million before dropping to $274 million within 10 hours of launch. Concerns raised about tokenomics and cybersecurity in wake of previous memecoin collapse.

Star10 memecoin’s tokenomics show 35% supply allocated to insiders, including 20% for Ronaldinho and 15% for team. Insider wallets have not sold any coins and added liquidity to trading pools. Token creator renounced ownership, flashing positive signal for investors. Security experts initially flagged token as risky, but concerns have since been addressed.

Investors urged to differentiate between genuine memecoins and fraudulent activities like rug pulls. Renouncement of token ownership eliminates risk of destruction, but memecoin market remains under scrutiny. Anastasija Plotnikova warns that fraudulent activities are unethical and illegal, with case law to support enforcement. Market volatility and security risks continue to impact memecoin investments.

Read more at Cointelegraph: Ronaldinho launches token with 35% insider supply, hits $397M market cap