The post Ronaldinho Messi Promoting Water-Themed Solana Meme Coin appeared on BitcoinEthereumNews.com.

Water meme coin spiked nearly 40% one hour after Ronaldinho mentioned it in an Instagram post, but it has since settled below its pre-pump price. Ronaldinho Gaúcho is the latest soccer legend to promote the Solana token Water Coin (WATER) on Instagram following a similar post from Lionel Messi’s X account yesterday. A July 9 Instagram story to his 76.6 million followers showed a photo of him with Water Coin’s mascot peeping over his shoulder, which tagged the token’s Instagram account. WATER rallied 38.8% to $0.0012 one hour after Ronaldinho’s post but has since dropped below $0.00083, CoinGecko data shows. Its price is now down 71% from its June 26 all-time high. WATER’s price is up 158% from Messi’s Instagram post on June 8, which shared a similar picture to Ronaldinho’s post. Water Coin is supposedly focused on raising awareness for water-related issues, including supporting sustainable projects that prevent deforestation and help water distribution in Africa, according to its website. Water Coin’s roadmap outlines its plans to form celebrity partnerships before becoming a charity-focused environmental token to achieve its goal. While the WATER Foundation supposedly only distributed 5% of the 88.88 billion WATER tokens to themselves, YouTuber Ajay Kashyap was among the industry critics that flagged WATER as a potential pump-and-dump token. “Is this real or another pump and dump shit,” added crypto commentator Ponga. “Stay cautious boys.” 🇦🇷 Lionel Messi’s Instagram post about $WATER token caused its price to surge 400% in just three hours 👀 Celebrities and their usual pump & dump 🙄 🤷🏻 pic.twitter.com/AwgQLlq9Lq — Ajay Kashyap (@EverythingAjay) July 9, 2024 Ronaldinho, a Brazilian national, appeared before a Brazillian parliamentary committee inquiry in August over an alleged $61 million crypto pyramid scheme that used his likeness. The scheme, “18kRonaldinho,” promised 2% daily returns to investors and used…

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Filed under: News - @ July 11, 2024 11:20 am