- Water crypto token pumps after ‘endorsement’ by soccer stars.
- Some are skeptical concerning the memecoin regardless of a exceptional rally prior to now few days.
The Solana [SOL] based mostly $WATER crypto memecoin obtained an enormous promotional enhance from two soccer legends, Lionel Messi and Ronaldinho Gaucho.
Messi promoted the water-themed meme coin on his Instagram story on the eighth of July. Reacting to Messi’s promotion, market observer Alex Kruger termed it ‘wild.’
‘Messi is now shilling Solana memecoins. Through his Instagram tales. That is wild.’
On ninth July, one other soccer star, Ronaldinho Gaucho, joined Messi and promoted the $WATER on his Instagram story, too. Ronaldinho’s promotion coincided with an over 350% rally for the memecoin.
Supply: WATER/USDT, TradingView
Water Coin [$WATER], per its web site, is an impression token geared toward safeguarding the atmosphere and ‘supporting charitable programs.’
‘Not like many memecoins that lack common worth, $WATER stands out with a transparent goal. Our token exists to make sure truthful asset redistribution amongst holders whereas additionally supporting charitable causes.’
The current endorsement from soccer stars to what maybe appears like and charitable course aligned nicely with Ethereum’s [ETH] founder Vitalik Buterin’s imaginative and prescient for memecoins.
So, can it rally additional and publish extra features to speculators? One analyst thinks so and projected a 2X transfer was probably if WATER flips $0.001 into help.
Supply: X/VikingXBT
Nevertheless, others have warned that WATER could also be a ‘pump and dump’ scheme.
‘Messi has simply shilled $WATER memecoin on Instagram! Only a reminder: the final time Messi endorsed a token was $PLANET in March 2024. Since then, a continuing dump of -90%’
Apart from, some had points with the undertaking’s X (previously Twitter) account, which had over 190K followers however had zero posts since its debut final month.
Within the meantime, the memecoin traded at $0.0009 and was up 3% prior to now 24 hours, per Coingecko knowledge. Nevertheless, compounding skepticism concerning the memecoin might derail market sentiment and name for warning.
