After Argentine star Messi, another soccer legend is promoting a new meme coin called “WATER”, which is being issued on the Solana network.
Ronaldinho, the famous Brazilian former soccer player, shared a story promoting the meme coin today on his Instagram account with 77 million followers. After the post, the WATER price increased by more than 50% for a short time, but lost 40% in the evening.
Messi made the first important post about the meme coin yesterday. After the Argentine star’s post, the price increased by 370%. This rise was not long-lasting again.
WATER is billed as a “token of kindness” on its official website. The meme coin was created in collaboration with the team behind another meme coin, BEER, which has a market capitalization of over $500 million and more than 250,000 holders. It is also claimed that it will run global marketing and social campaigns on water issues, partnering with some of the world’s biggest charities and decision-makers.
On the other hand, there are many question marks. It is claimed that the team behind WATER is the same team that launched BEER. BEER has fallen 95% since its peak of $0.00059 on June 10. There is concern that WATER could be another meme coin scam on the Solana network. Blockchain analysis company Bubblemaps urged users to be wary of WATER, stating that at least 30 percent of the supply is controlled by the project team.
WATER raised over $40 million in a pre-sale last month.