Former Brazilian footballer Ronaldinho Gaúcho has officially launched his STAR10 token on the Binance Smart Chain.

The launch came shortly after the footballer warned about fake meme coins using his name. He clarified that he had no official tokens yet and hinted at upcoming big news for the community.

Former Brazilian footballer Ronaldinho Gaúcho has officially launched his STAR10 token on the Binance Smart Chain.

Announced via his official X (formerly Twitter) account, Ronaldinho described STAR10 as more than just a token, calling it a "legacy in the making."

“My new one and only official token is here! It’s time to celebrate greatness, passion, and that legendary spirit that never fades,” he stated.

Announcing my new one and only official token! It's time to celebrate greatness, passion, and that legendary spirit that never fades with STAR10. ⚽️💫 Join the legacy in the making! Let's write a new chapter together! #Ronaldinho #STAR10

— Ronaldinho Gaucho (@Ronaldinho) August 8, 2023

The token offers exclusive experiences, including signed collectibles, real-world benefits, community competitions, and access to dedicated artificial intelligence (AI)- powered insights, according to its website.

Beyond collectibles, STAR10 grants VIP experiences like meet-and-greets with Ronaldinho, behind-the-scenes access, and private events. Holders also get priority access to special drops, digital assets, and upcoming initiatives.

“While most meme coins come and go, STAR10 was designed with a long-term vision, offering real value beyond the digital world,” the website noted.

The total supply of the token is 1,000,000,000, distributed as follows: 25% for liquidity, 20% for public distribution, 20% for Ronaldinho, 15% for marketing and operations, 15% for the team, and 5% for centralized exchange (CEX) allocation.

Following its launch, STAR10 saw a rapid surge in market capitalization, reaching an impressive $300 million. However, the initial hype was short-lived, as its valuation quickly dropped to $200 million within hours.

As of the latest update, STAR10 was priced at $0.23, with $17.9 million in liquidity. Its market capitalization stood at $238.6

Meanwhile, the excitement around STAR10 has turned into scrutiny as on-chain data revealed alleged signs of insider trading. According to Onchain Lens, an insider closely linked to Ronaldinho made an astonishing $4.94 million profit.

The individual initially bought 20.79 million STAR10 with 48 BNB ($29,247) and quickly sold a fraction—119,278 tokens—for 54 BNB ($33,106), securing an immediate gain.

However, the bulk of their holdings—20.68 million tokens—now hold an estimated value of $4.93 million. The revelation has raised concerns over potential manipulation.

In addition, the community’s reaction has been largely cautious and skeptical, with many warning of an impending rug pull.

“Here we go again, if you remember MELANIA, CAR, LIBRA you know what I mean