Lionel Messi shills token on Instagram and price soars 400%

Dwelling » Meme Cash » Lionel Messi shills token on Instagram and price soars 400%

On-chain tracker warns of provide focus, however traders purchase after celeb endorsement.

Soccer star Lionel Messi shared along with his 504 million followers on Instagram the picture of a Solana-based meme coin named Water (WATER), as reported by X person Degen Information. The token soared almost 400% in simply three hours, though its price is down 80% since its all-time excessive. Moreover, a bunch of wallets controls 35% of the token’s provide.

The on-chain tracker Bubblemaps bolstered the warning in one other X submit, urging its followers to ship WATER to zero. Nonetheless, traders ignored the provision focus and determined to purchase the token after Messi’s submit.

Lately, hackers allegedly breached celebrities’ profiles to advertise meme cash. After recovering entry to their accounts, the celebrities eliminated all of the posts from their profiles, even those unrelated to token-shilling actions. Infamous examples are actress Sydney Sweeney and the rapper 50 Cent.

But, it doesn’t seem to be the case for Messi. On the time of writing, the submit made on the soccer participant’s tales on Instagram continues to be up, and Messi didn’t declare to be hacked.

The meme coin claims its goal is to advertise a “net-positive impression on the true world,” though it doesn’t specify how. During the last 24 hours, WATER’s buying and selling quantity is almost $97 million, with an over $80 million market cap.

Notably, different Solana-based meme cash with two-digit progress within the final 24 hours embody Zazu (ZAZU), Zoomer (ZOOMER), and Jeo Boden (BODEN), with 63%, 29%, and 16% price leaps, respectively.