The post Solana Token Soars 350% After Messi and Ronaldinho’s Promotion appeared on BitcoinEthereumNews.com.

On Monday, professional football player Lionel Messi promoted a Solana-based memecoin to his 504 million Instagram followers. The Argentine player shared a link to Watercoin (WATER), propelling the token by 350%. The crypto community has expressed concern about Messi’s endorsement of the project. Related Reading Global Football Stars Promote WATER Lionel Messi, one of the best players in football history, promoted a Solana project named Watercoin. The football player’s Instagram account shared an image of Messi with the project’s logo and a link to its Instagram page. Following the post, the memecoin surged over 350%, going from $0.00032 to $0.0015 in a few hours. WATER’s market capitalization rose by 325%, surpassing the $100 million mark. Quickly, users expressed their concerns and doubts about the posts. Many speculated that Messi was a new victim of hackers who have restlessly targeted public figures’ social media accounts in this cycle. Nonetheless, Messi’s Instagram story has not been deleted as of this writing, and no official report of a hack has been made public, suggesting that the post was authorized. Additionally, several uses pointed out the football player’s previous endorsement of crypto projects. In February, the Inter Miami player announced his partnership with the Real-World Assets (RWA) tokenization platform. At the time, the platform’s token PLANET saw high volatility after soaring by 1,500%. Moreover, the legitimacy of Messi’s promotion seems to be confirmed on Tuesday morning. Earlier today, retired Brazilian sensation Ronaldinho promoted WATER on his Instagram account. The post has the same format as his former teammate’s story, with a picture of the football player and WATER’s logo. Messi and Ronaldinho’s promotional posts. Source: Instagram Is WATER Another Solana-Based Scam? Regardless of the posts’ legitimacy, the crypto community remains concerned about the project. Many users pointed out that the team behind Watercoin is…

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Filed under: News - @ July 10, 2024 3:12 am