Solana Memecoin WATER Jumps 23% As Lionel Messi Boosts Awareness On Instagram

Solana-based memecoin WATER is registering a huge price jump at the moment. It coincided with the period that popular Argentine footballer Lionel Messi posted about the token on social media.

Is Messi Endorsing the Solana WATER Memecoin?

On Monday, Messi’s Instagram account posted a picture on his story that looked like he was promoting the WATER memecoin. There was a picture of Messi with the WATER logo peeking over his shoulders. An Instagram account believed to be connected to the memecoin shared the same story in a post. As a renowned sportsman, Messi’s post could mean a lot to the public.

According to his Instagram account, he has a followership of 504 million, making him the second most-followed individual on the app after Cristiano Ronaldo. With such huge followership, WATER must have received a boost as it wasn’t long before this that its price jumped by more than 55%.

As of the time of this writing, the memecoin had lost more than half of this gain but is still on a positive boost. WATER currently trades at $0.001029 with a 21.12% increase within the last 24 hours.

Neither Messi nor his management team has made any official statement about the WATER post. However, it brings to remembrance a similar memecoin that was allegedly linked to popular wrestler Hulk Hogan. Last month, there were several posts promoting the Hogan memecoin on social media platforms. They were later taken down after the wrestler denied any involvement with the crypto asset. Shortly after, the token lost more than $15 million in market capitalization.

Many top Solana meme coins have enjoyed positive audience from celebrities lately.

WATER Trades on Cryptocurrency Exchanges

Not much is known about the WATER memecoin but a link connected to the website of the digital currency, directs to a page where it was stated that the memecoin was created “in partnership with the masterminds” behind the Solana memecoin BEER. Noteworthy, this was one of the memecoins that experienced extreme volatility last month.

“WATER is a meme coin with no intrinsic value or expectation of financial return,” per the statement on the memecoin’s website.

Further details about where the token can be bought and traded were equally added. This includes Bitget, BitMart and MEXC. While crypto enthusiasts await Messi and his team to talk about the post, it is expedient that crypto users remain vigilant and conduct due diligence before plunging their funds into any investment especially with the frequency of scams.

Read More: 21Shares Files Updates S-1 Amendment For Spot Ethereum ETF

 

The post Solana Memecoin WATER Jumps 23% As Lionel Messi Boosts Awareness On Instagram appeared first on CoinGape.