CR7 Crypto Soars to $5 Million, Then Collapses After $143 Million Rug Pull!

Jakarta, Pintu News – The CR7 crypto, which was recently launched on the Solana (SOL) blockchain, skyrocketed to a market capitalization of $5 million before falling straight to zero.

Citing Coingape’s report, this drop came after the launch of the first fake coin which caused a rug pull of $143 million.

Rapid Rise and Sudden Fall of Fake Crypto CR7s

According to BlockBeats, a token labeled the CR7 meme coin was launched on the Solana blockchain on the morning of August 26. Within six hours, the token’s market capitalization soared to nearly $5 million, driven by hype and speculative trading.

Read also: Galaxy, Jump, and Multicoin Invest $1 Billion in Solana!

However, the surge was short-lived. A few hours later, the coin’s value dropped dramatically, and its market capitalization remained at just $359,000. This was despite a cumulative trading volume of $55.1 million.

This sudden spike and drop is similar to previous incidents involving fake tokens that capitalized on Cristiano Ronaldo’s global fame and his ongoing partnership with Binance.

Speculation about Ronaldo launching a digital asset has been circulating for several months. This was further reinforced by numerous posts on X that hinted at an “official” meme coin.

Many of these posts suggest that CR7 could be the dominant player among meme tokens. However, there are no credible sources or official statements confirming such claims.

Ronaldo’s partnership with Binance, which starts in 2022 and results in four NFT collections, is the only confirmed move in the Web3 universe. Other than that, there has been no legitimate confirmation of any token launch.

Fake CR7 Crypto Pattern

This latest version of the CR7 crypto is not the first attempt to capitalize on Ronaldo’s name. Previously, there was another token that shot to a valuation of $143 million in less than 15 minutes before falling 98% almost instantly.

Read also: Ethereum Price Sets New Records, Vitalik Buterin Shares Hedging Insights!

Reports also indicate that several fake CR7 tokens appeared on Solana in recent months. Most of them failed to break the $1 million market capitalization threshold, except for the token discussed in this coverage.

Blockchain analytics platform Bubblemaps has also warned investors about the growing number of scams emerging.

This happened right after Kanye West’s YZY meme coin debuted on Solana and quickly reached a market capitalization of $3 billion.

However, on-chain analysis shows that more than 90% of YZY’s supply is controlled by just six wallet addresses alone. This raises concerns about the dangers of centralization.

Solana’s other meme coin platform also helped fuel the broader meme coin fever. Pump.fun reportedly generated more than $800 million in total revenue. This suggests there is strong interest in the new token launch.

This trend of opportunistic celebrity-linked launches has become even more apparent with the recurring boom-bust cycle of fake crypto CR7s. While such projects can generate short-term gains, their lack of legitimacy often leads to a rapid decline.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. CR7 Meme Coin Hits $5M Market Cap Then Dumps Following $143M Rug Pull. Accessed on August 26, 2025