Recently, Lionel Messi’s Instagram account surprised followers by posting a story promoting the Solana memecoin WATER. With 504 million followers, Messi’s account is one of the largest on Instagram, second only to Cristiano Ronaldo.

The story, also shared by the Instagram account linked to the WATER memecoin, featured Messi with the memecoin’s logo peeking over his shoulder. The Twitter account for this memecoin, which has over 185,000 followers, had no new posts until the afternoon of July 9th.

Story mentions Instagram Messi’s memecoin WATER

Immediately following the post from Messi’s Instagram account, the price of WATER surged by more than 55%, but later corrected, according to data from CoinGecko. There has been no further confirmation from Messi or his team regarding this promotion.

Messi’s promotion of the memecoin brings to mind the mysterious memecoin endorsement by professional wrestler Hulk Hogan earlier last month.

Hogan’s memecoin promotion posts were quickly removed, and the wrestler denied any involvement. After the tweets from Hogan’s account were deleted, that memecoin lost about $15 million in market capitalization.

According to a link on the WATER memecoin’s website, this memecoin was created “in collaboration with the brilliant minds” behind BEER, another Solana memecoin that experienced extreme volatility last month.

“WATER is a meme coin with no intrinsic value or expectation of financial returns,” states the memecoin’s website.

This memecoin is currently available for purchase and trade on Bitget, BitMart, and MEXC.

Source: Allinstation