Using Memecoins as the Key to Success May Also Be the Key to Failure. CZ's Plan to Use Memecoin to Support BNB Chain May Have Been Ruined by His Own Hands.

Meme is the key to success and Meme is the key to failure. CZ's plan to use Memecoin to support BNB Chain may have been ruined by his own hands.

Author: Yangz, Techub News

Meme is the key to success and Meme is the key to failure. CZ’s plan to use Memecoin to support BNB Chain may have been ruined by his own hands.

After the Argentine president released Libra and raised concerns about the "Celebrity Coin" sickle scam, former Brazilian football star Ronaldinho announced the launch of the token STAR10 on BNB Chain and announced the CA address early Monday morning. However, considering Ronaldinho’s bad reputation in recent years and the painful lessons of the previous rounds of "Celebrity Coin", Memecoin enthusiasts did not trade as usual, taking advantage of the weekend on the other side of the ocean. Dex Screener data shows that although the market value of the token rose to about US$200 million after Ronaldinho’s tweet, it began to fall back later due to multiple reports about some internal addresses making profits from preemptive transactions, and the market was tepid.

It was thought that this "celebrity coin" would quietly become a thing of the past in the recent turbulent market conditions, but surprisingly, a retweet from CZ in the afternoon brought the coin back into the public eye. CZ said, "STAR10 tokens are only issued exclusively on BNB Chain. Coins on other chains are fake, please beware of scams." In addition, he "has been a fan of Ronaldinho since 2005." Of course, CZ also repeatedly emphasized that this tweet is not an endorsement of the token, and there is no business relationship between BNB Chain (and any of its affiliates) and Ronaldinho, and reminded users to pay attention to the volatility of Memecoin.

But even so, the market value of STAR10 still rose rapidly to $350 million after the tweet was forwarded. Many investors found that Ronaldinho had interacted with CZ twice before the coin was issued. On February 26, Ronaldinho posted a Twitter video announcing that he would give his autographed jersey to his "friend" CZ. On March 2, Ronaldinho forwarded CZ's "Keep Building" tweet and said "On it".

Just when many investors thought this was the "new code for wealth" and were ready to start trading, the incident reached a critical turning point. X user @R10coin_ (the account has been frozen) revealed that STAR10 is actually Shenzhen's "Panzi" coin, which was promoted by Xiao Luo after he sold X account to a Shenzhen coin issuing team for $5 million. In addition, blockchain security company GoPlus Security also issued a security alert , saying that STAR10 has serious security risks, "The token owner has not given up ownership and can destroy the tokens of any holder at will."

Affected by the above explosive news, the price of STAR10 fell again. As of writing, STAR10 has fallen from a high of $0.39 to $0.07. Ronaldinho's X account, in addition to announcing that it would "listen to community feedback" and give up ownership of STAR10 tokens and extend the lock-up period to 255 years, seems to be still operating normally. It not only announced the launch of the Telegram community, but also launched an activity of "joining the group to get a signed jersey", and the comments below are also full of praise such as "my idol, because of you, I fell in mind