Football legend Messi suddenly "shilled" memecoin WATER

Soccer player Lionel Messi's Instagram account suddenly promoted memecoin, surprising the community.

According to some rumors, soccer superstar Lionel Messi promoted the WaterCoin token (WATER) on his personal Instagram Stories yesterday. The posted photo shows the memecoin logo peeking over Messi's shoulder.

With 504 million followers, Messi owns one of the accounts with the largest fan base on Instagram, just behind Cristiano Ronaldo.
WATER's page X, which has more than 189,000 followers, has hidden all posts. And there is still no confirmation from Messi or his team. The incident surprised fans and the crypto community.
WaterCoin is a memecoin project focused on raising awareness about water-related issues, belonging to the Solana system. WaterCoin outlines 4 stages of development including token presale, listing on exchanges, establishing partnerships with celebrities and becoming a token with community value.

However, the roadmap lacks a detailed plan and the token price is said to show signs of "pump and dump".

WATER suddenly shined again after Messi's endorsement. In just 2 hours, WATER increased in price by more than 200%. This token has struggled for a long time and is down more than 90% from its ATH price.

According to the review, the community discovered a cluster of wallets that owns more than 35% of the total WATER supply. This relatively high dominance rate can cause unpredictable fluctuations for potential investors. The project website also disclaims that “WATER is a memecoin with no intrinsic value or expectation of financial return.”
Celebrity endorsements can also only bring temporary benefits, investors should not make decisions based solely on media influence, and should do thorough research before investing money. into highly speculative assets like WATER. Tokens are being traded on Bitget, BitMart and MEXC exchanges.

Celebrities "shill" memecoin has been a hot topic in the past few months, with the argument that "if not rug pulled, it will return to the ground". Today's incident is reminiscent of boxer Hulk Hogan's memecoin promotional event early last month. Hogan's posts promoting memecoin were quickly removed, and the boxer denied any involvement, causing memecoin to lose $15 million in market capitalization.