Messi has joined the ongoing crypto memecoin trend by promoting Solana-based memecoin $Water through a post on his official Instagram account.
Famous Argentinian footballer Lionel Messi has pushed the price of the Solana $Water memecoin by over 350%, leading many of his fans and followers to invest in the token through his Instagram story.
$Water has been on the downtrend for the past 14 days, plummeting to $0.0002878 per coin, more than 90% from its all-time high on the launch date. Messi’s endorsement was the catalyst that sent $Water soaring, demonstrating the immense power of celebrity influence in the cryptocurrency market.
Messi Sends $Water up by Over 350%
Through a Monday post on his Instagram Story, Football legend Lionel Messi advertised the newly launched Solana memecoin $Water to his online family of over 500 million followers. $Water moved from $0.0003193 to $0.0015 within three hours after Messi’s post.
According to Dexscreener, $Water was launched two weeks ago on Solana with a market capitalization of over $70 million and a daily trading volume of over $100 million.
Following Messi’s post, $ Water’s official Instagram account reposted a screenshot of the story, expressing their heartfelt gratitude to Messi for his support, which they believe has profoundly impacted the token.
Recently, hackers have accessed celebrity accounts to advertise memecoins, but that is not the case with Messi’s post on $Water as he has not come out via any means to refute the claims that he is supporting the project or delete the post from his account.
Celebrities Embrace Crypto
Messi has only joined a league of influential personnel and celebrities to show open acceptance of cryptocurrencies. A few artists have moved beyond promoting other tokens to launching their memecoins and promoting them to their online community.
Australian rapper Iggy Azalea launched $Mother memecoin on the Solana network and has kept it active ever since with exciting updates to keep driving investors’ momentum on the project, including re-establishing an abandoned telecommunication company.
Famous Nigerian singer David Adeleke also launched $Davido and advertised to his followers, making the memecoin pump within the first few hours of the launch. However, he cashed out big, leaving many investors in losses, as even the SEC warned against investing in the coin.
