Brazilian football legend Ronaldinho has entered the cryptocurrency space with his own token, STAR10. Despite initial excitement, the project has been met with scrutiny over potential price manipulation.
Brazilian football legend Ronaldinho has launched his own cryptocurrency, STAR10 , sparking both excitement and skepticism within the crypto community. The token, announced via X (formerly Twitter), boasts a total supply of 1 billion and aims to merge the world of football with blockchain technology. Ronaldinho 's involvement has undoubtedly drawn attention to STAR10 , but the project has also faced scrutiny over potential price manipulation .
A series of high-value transactions linked to the STAR10 team have raised concerns. For example, on March 2nd, a wallet associated with the project spent 80 BNB ($50,000) to acquire 122.45 million STAR10 tokens, causing a 15% price surge to $0.40. Shortly after, selling 1 million tokens for 433 BNB ($270,000) triggered a 10% drop to $0.36, with trading volume spiking by 300%. While only 119,278 tokens were actually sold for $33,106, the remaining holdings have seen a significant increase in value. Despite the controversy, STAR10 has managed to maintain a market cap of over $21 million and a price of $0.2655 at the time of writing.This development adds Ronaldinho's STAR10 token to the growing list of celebrity-backed crypto assets, following the likes of Donald Trump's TRUMP and MELANIA coins, Argentina's LIBRA, and Kanye West's $YZY. While these tokens attract considerable attention, many lack real-world utility, leading to volatile price swings that put investors at risk. Experts have cautioned against the speculative frenzy surrounding such projects, urging a more measured approach and emphasizing the importance of fundamental value over hype. The success of STAR10 and other celebrity-backed cryptocurrencies will ultimately depend on their ability to deliver tangible benefits and build a sustainable ecosystem
Ronaldinho STAR10 Cryptocurrency Price Manipulation Celebrity Tokens
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