Solana-based memecoin WATER surged over 20% after Lionel Messi posted about it on Instagram. This spike occurred when Messi, with 504 million followers, shared a story featuring the WATER logo on his shoulder.
There has been no official endorsement from Messi or his team yet, but the post quickly led to a 55% price increase, though the gain later halved. WATER now trades at $0.001029, up 21.12% in the last 24 hours.
WATER, created with the team behind Solana memecoin BEER, has no intrinsic value and trades on exchanges like Bitget, BitMart, and MEXC. Recent celebrity endorsements of similar memecoins have boosted their visibility.
Given the frequency of scams, users are advised to conduct due diligence before investing. The strategic importance of this event highlights the influence of celebrity endorsements in the cryptocurrency market.
