Binance CEO Changpeng Zhao voices his warning about Ronaldinho Coin (Star10), which rose 80% in value. As Star10 experiences its price surge, the market shows rising fear about scammy projects.

Brazilian football icon Ronaldinho made crypto-related news by launching the Star10 token on the BNB Chain platform. The new token jumped 80% in value during its launch, which both excited and alarmed market participants.

On X social media, Ronaldinho announced that Star10 had jumped to the number one position on DEX Screener. He wanted everyone in his fanbase to participate and stated that people could get started by putting their money into Star10.

Ronaldinho Shares Star10 Contract, Investors Rush To Buy

Ronaldinho gave investors valid proof by sharing the official Star10 BNB Chain contract address. Besides joining celebrity tokens he participates in the increasing trend of artists creating their own cryptocurrency thus increasing market focus and investments.

Buyers began purchasing Star10 very soon after launch and pushed its value upward in just several hours. Star10’s price jumped 80% to $0.37 while its market value exceeded $31 million when this article was published.

Changpeng Zhao the Binance founder alerted investors about potential risks with Star10. He stated clearly that Binance and its related platforms do business with neither Ronaldinho nor Star10 and advised investors to approach meme coin investments carefully.

https://twitter.com/cz_binance/status/1896457484119756855

Still Peak AssetDAO asked investors to use Star10 only on the BNB Chain because the company created no Star10 tokens on other networks. He pointed out that meme coins behave unpredictably because trading volumes in these coins currently decrease.

Zhao Warns Of Scams As Star10 Gains Popularity

According to Zhao, the published text does not promote any specific option. The BNB Chain platform became the exclusive home of STAR10 tokens when Ronaldinho launched them. Other chains’ coins are fake. Beware of scammers.”

Through his alert Zhao wants us to see how celebrity-endorsed tokens suffer from manipulation and unexpected drops in value. Ronaldinho joined other famous people who accepted cryptocurrency when he launched his Star10 token project.

After the Trump campaign team launched MEME coins TRUMP and MELANIA the popularity of this trend increased. The Argentinian President’s public support for the LIBRA Meme coin caused significant controversy to develop.

Famous artists like rapper Kanye West joined this trend when they started their own tokens, but $YZY soared rapidly with market popularity. These tokens receive wide publicity from celebrities, yet most prove useless in the long run and make investing tricky because prices swing wildly.

When Star10 made an impressive entrance, Zhao’s announcement served as a warning about market risks. Investors need to research tokens carefully to spot and skip any scams disguised as official ones. Zhao states that the meme coin sector attracts high-risk trades because prices usually spike and then tumble fast.

The crypto community needs to be watchful as interest in celebrity tokens keeps rising. Investors need to do thorough market research to understand any potential dangers in buying new tokens.