Lionel Messi Makes The Price Of The WATER Solana Meme Coin Skyrocketing 23%

Lionel Messi made the price of the WATER Solana meme coin skyrocket 23% (Photo; Doc. Gsp)

JAKARTA - Solana-based meme coin, WATER, experienced a price spike of 23% after Lionel Messi, an Argentine soccer star, posted about the token on his social media.

On Monday, Messi's Instagram account posted a story that looked like a promotion for the WATER meme coin. In the story, you can see a picture of Messi with the WATER logo behind him. An Instagram account believed to be linked to the meme coin also shares the same story in a post. As a well-known sportsman, Messi's post could mean a lot to the public.

With a total of 504 million followers on Instagram, Messi is the individual with the second most followers on the app after Cristiano Ronaldo. With that many followers, WATER received a big boost to the price soaring by more than 55%.

However, over time, the meme coin lost more than half of its rise, but remains in positive condition. At the time of writing, WATER was trading at a price of 0.001029 US Dollars (around Rp. 16.72) with an increase of 21.12% in the last 24 hours.

According to information from Coingape, neither Messi nor his management team have made an official statement regarding the WATER post. However, this reminds us of a similar meme coin allegedly linked to the famous wrestler Hulk Hogan. Last month, there were several posts promoting Hogan meme coins on social media platforms. The post was later removed after Hogan denied his involvement with the crypto asset. Shortly after, the token lost more than 15 million US Dollars (approximately IDR 243 billion) in market capitalization.

Not much is known about the WATER meme coin, but links connected to the digital asset website suggest that the meme coin was created in partnership with experts behind Solana BEER's meme coin. It should be noted, BEER is one of the meme coins that experienced extreme volatility last month.

"WATER is a meme coin with no intrinsic value or hopes of a financial return," the meme coin website said in a statement.

While crypto enthusiasts are waiting for Messi and his team to talk about the post, it is very important for crypto users to remain vigilant and conduct due diligence before investing their funds, especially with a high frequency of fraud.