Recently, I saw that on Solana there’s another meme coin CR7 – it skyrocketed to $5 million in just a few hours, but then almost completely collapsed. This one is inspired by Cristiano Ronaldo, but has nothing to do with him at all.

The crazy thing is that the token was launched early on August 26, and within six hours, there was significant trading, with a cumulative volume of up to $55 million. But boom, the market cap dropped straight down to $359,000. That’s the classic scam pattern I’ve seen too many times.

This CR7 meme coin isn’t the first time. Previously, another fake CR7 token reached $143 million before crashing 98% in 15 minutes. Recent CR7 clones on Solana usually don’t exceed $1 million, but people still get scammed.

Ronaldo has never issued any tokens. The only Web3 involvement he’s had was collaborating with a major exchange in 2022 to launch an NFT. But fake posts on X spread the illusion that this is an “official” meme coin, causing FOMO among people.

This kind of scam also happened with Kanye West’s YZY meme coin, which reached $3 billion on Solana, but over 90% of the tokens are controlled by 6 wallets. I’ve seen Pump.fun generate hundreds of millions of dollars in revenue from meme coins, so demand for them remains high.

This pattern keeps repeating: rapid rise, quick crash, and more people getting scammed. Fake celebrity-related meme coins are very dangerous – they promise quick profits but are just traps. Nothing official, no transparency, extremely high risk. Be careful with things like this.