Solana-based meme coin Water (WATER) has witnessed a outstanding 120% surge in its price, catapulting it into the trending class on Google.
As of the newest information from CoinMarketCap, WATER is buying and selling at $0.00092, marking a 122% improve. The crypto asset’s 24-hour buying and selling quantity has additionally seen a considerable rise, leaping 243% to roughly $40 million. Its market capitalization at present stands at $82.23 million.
The latest surge within the meme coin WATER could be attributed to soccer star Lionel Messi sharing a picture of the Solana-based meme coin together with his 504 million Instagram followers, as reported earlier by crypto.information.
The token’s worth skyrocketed practically 400% inside simply three hours of Messi’s submit, though it has since declined by 72% from its all-time excessive on June 25. Notably, a small group of wallets controls 35% of the token’s provide.
Bubblemaps, an on-chain analytics agency, has expressed considerations over the focus of provide, cautioning traders to steer clear, however the enthusiasm sparked by Messi’s endorsement has overshadowed these warnings.
In the meantime, one other X person with the moniker yourfriendSOMMi alleged that the crew behind the WATER coin managed to affect Lionel Messi’s advertising crew to advertise the coin regardless of Messi possible having little data about cryptocurrencies or how they function.
The person additional claimed that the people behind WATER are the identical ones concerned with the BEER and TEA meme cash, beforehand accused of pulling off scams that resulted in over $40 million in losses.
Just lately, there have been situations of hackers utilizing celebrities’ social media accounts to advertise meme cash, like these involving Sydney Sweeney and 50 Cent. Nevertheless, Messi’s submit seems to be authentic because it stays on-line, and he has not reported any hacking.
WATER claims to goal for a “net-positive impact on the real world,” though specifics on the way it intends to realize this stay obscure. The meme coin’s web site mentions a partnership with the creators of one other risky Solana meme coin, BEER.
The meme coin’s web site emphasizes that WATER has no intrinsic worth or expectation of monetary return. It additionally gives data on the place the token could be purchased and traded, itemizing platforms reminiscent of Bitget, BitMart, and MEXC.
Notably, different Solana-based meme cash with two-digit development within the final 24 hours embody Bonk (BONK) and Brett (BRETT), respectively.