The world of meme coins witnessed a surge in WATER, a Solana-based token after a seemingly promotional post appeared on Lionel Messi’s Instagram story. As of this writing, WATER boasts a 21% price increase within the last day.
The post, featuring a picture of Messi with the WATER logo positioned near his shoulder, sent the cryptocurrency community into a frenzy. With a staggering 504 million followers, Messi’s social media reach is undeniable. This exposure translated into a quick price jump for WATER, exceeding 55% at its peak. However, the gains have settled somewhat, with the token currently trading at $0.001029.
While the post has ignited speculation about Messi’s potential endorsement, neither the footballer nor his team have issued any official statements. This situation bears resemblance to a recent incident involving legendary wrestler Hulk Hogan and a meme coin named after him. Similar promotional content mysteriously surfaced online, only to be dismissed by Hogan, leading to a significant drop in the token’s market value.
The rise of WATER highlights the growing trend of celebrity involvement in the memecoin space. While such endorsements can generate significant buzz, it’s crucial to approach these investments with caution.
Limited information surrounds WATER, with the website acknowledging its status as a “meme coin with no intrinsic value or expectation of financial return.” Furthermore, the website links to cryptocurrency exchanges like Bitget, BitMart, and MEXC for trading the token.
With the ever-present threat of scams in the cryptocurrency market, exercising due diligence becomes paramount before investing. Investors are advised to research projects thoroughly and remain vigilant when encountering celebrity-linked promotions, especially in the volatile memecoin space.
