Fake meme coins inspired by soccer star Cristiano Ronaldo surfaced over the weekend following unverified rumors about an official token launch.
Fake meme coins inspired by soccer star Cristiano Ronaldo surfaced over the weekend following unverified rumors about an official token launch. The main CR7 token reached a $143 million market cap in just six minutes.
However, the token crashed 98% within the next nine minutes as several addresses executed quick sales. On-chain analysis firm Bubblemaps suggests this was likely an organized scheme by crypto influencers who promoted the token before deleting their posts.
At least five other fake CR7 tokens launched on Solana, though none exceeded $1 million in market cap.
No official announcements from Ronaldo regarding any token plans have been made. The incident follows Ye’s official YZY token launch, which hit $411 million before dropping 74% in 24 hours.
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