Ronaldinho Alerts Fans to Fake Coins, Teases Big News

Ronaldinho, a Brazilian football legend, has hinted at developing his own cryptocurrency after a warning to supporters about fraudulent meme coins misusing his name.

In a recent X (Twitter) post, he told the crypto community to watch out for scams and “stay tuned because very soon we will have big news here!”

Ronaldinho Alerts Fans, Source: X

Ronaldinho’s post comes as meme currencies are losing popularity and investors are seeking altcoins with real-world applications. Meme coins remain a key part of the cryptocurrency industry and tend to mirror general market movements.

Crypto analyst Michael van de Poppe criticized the idea, saying Ronaldinho should focus on protecting investors instead of launching a meme coin. Another user warned that whoever helps him create a token might take advantage of his reputation, leaving investors at risk.

Concerns are valid, as Ronaldinho has previously been linked to a crypto scam. There have also been cases of hackers impersonating public figures to promote fraudulent tokens.

Celebrity-backed meme coins have a bad track record. Tokens linked to famous figures like Donald Trump, Iggy Azalea, and Andrew Tate have dropped as much as 80% from their highest value. Research shows that 97% of meme coins fail, and most influencer-promoted tokens lose nearly all their value within three months.

Even top crypto experts are skeptical. Binance’s former CEO, Changpeng Zhao, has criticized meme coins for lacking real use and damaging crypto’s reputation. Some agree that these coins encourage risky trading and scams, while others see them as part of crypto culture.

Despite the risks, meme coins are still a big part of the market. The US SEC recently confirmed they are not considered securities, giving some legal clarity. It’s unclear if Ronaldinho will launch his own token, but his announcement has raised concerns about whether it will succeed or fail like many other celebrity crypto projects.