Solana’s $WATER crypto skyrockets +350% – Thanks to Messi, Ronaldinho!

• Water crypto token pumps after ‘endorsement’ by soccer stars.
• Some are skeptical about the memecoin despite a remarkable rally in the past few days. 

The Solana [SOL] based $WATER crypto memecoin received a massive promotional boost from two soccer legends, Lionel Messi and Ronaldinho Gaucho. 

Messi promoted the water-themed meme coin on his Instagram story on the 8th of July. Reacting to Messi’s promotion, market observer Alex Kruger termed it ‘

‘Messi is now shilling Solana memecoins. Via his Instagram stories. This is wild.’

On 9th July, another soccer star, Ronaldinho Gaucho, joined Messi and promoted the $WATER on his Instagram story, too. Ronaldinho’s promotion coincided with an over 350% rally for the memecoin. 

Source: WATER/USDT, TradingView

Water Coin [$WATER], per its website, is an impact token aimed at safeguarding the environment and ‘supporting charitable courses.’ 

‘Unlike many memecoins that lack universal value, $WATER stands out with a clear purpose. Our token exists to ensure fair asset redistribution among holders while also supporting charitable causes.’

The recent endorsement from soccer stars to what perhaps looks like a good and charitable course aligned well with Ethereum’s [ETH] founder Vitalik Buterin’s vision for memecoins. 

So, can it rally further and post more gains to speculators? One analyst thinks so and

Source: X/VikingXBT

However, others have warned that WATER may be a ‘pump and dump’ scheme. 

‘Messi has just shilled $WATER memecoin on Instagram! Just a reminder: the last time Messi endorsed a token was $PLANET in March 2024. Since then, a constant dump of -90%’

Besides, some had issues with the project’s X (formerly Twitter)

In the meantime, the memecoin traded at $0.0009 and was up 3% in the past 24 hours, per Coingecko data. However, compounding skepticism about the memecoin could derail market sentiment and call for caution.