TL;DR
- Several fake CR7-themed tokens appeared over the weekend after rumors spread that Cristiano Ronaldo was preparing to launch a meme coin.
- One of them briefly surged to a $143 million market cap before collapsing 98% within minutes, in what experts describe as a coordinated rug pull.
- The football star has not made any announcements beyond his NFT collections with Binance, and data shows influencers fueled investor FOMO by promoting the token without Ronaldo’s endorsement.
Cristiano Ronaldo’s global fame makes him a prime target for opportunists in the crypto space. Over the weekend, investors rushed into a series of unofficial CR7 tokens that appeared on Solana, driven by unverified speculation that the Al Nassr forward was entering the memecoin market. Within minutes, one of these tokens skyrocketed to a $143 million market capitalization before crashing almost entirely, wiping out millions in investor funds.
Fake Tokens Exploded Then Crashed
Blockchain trackers such as DEX Screener and GMGN confirmed the sudden rise and collapse. The most popular CR7 token peaked at $143.2 million in just six minutes before plunging 98% after coordinated sell-offs drained liquidity. Bubblemaps, an on-chain analytics firm, noted that the event showed clear signs of a planned rug pull rather than random trading activity.
Many traders pointed out that some of the hype stemmed from Ronaldo’s ongoing partnership with Binance, where he has launched four exclusive NFT collections since 2022. However, none of the fake coins had any connection with Binance or Ronaldo’s official team. Instead, they were created on Solana and promoted heavily by influencers, several of whom deleted their posts once the crash began. Reports also surfaced that one promoter allegedly walked away with over $500,000 in profits before vanishing from social media.
No Official Ronaldo Memecoin Yet
Despite the frenzy, Cristiano Ronaldo has not confirmed any plans to launch a cryptocurrency. His verified ventures remain tied to NFTs in collaboration with Binance, which were aimed at introducing sports fans to Web3 collectibles rather than speculative tokens.
Speculation was fueled further by Kanye West’s YZY token launch earlier this month, which briefly hit a $411 million valuation before correcting sharply. Analysts suggest that influencers may have attempted to replicate that hype by linking Ronaldo’s name to a similar project.
The Road Ahead For Sports And Crypto
While the fake CR7 memecoins left traders with heavy losses, the episode highlights how sports figures continue to shape market narratives in crypto. A genuine Ronaldo token, should it ever arrive, would likely be released through official channels in collaboration with established exchanges. Until then, investors are reminded to remain cautious and verify sources before chasing the next viral token trend.
