The impact was immediate and profound, triggering a staggering 214% increase in the token’s value within just one hour.
This surge saw trading volume spike from $14.55 million to $25.55 million, underscoring the influence of celebrity endorsements in the digital asset space.
Highlighting $WATER’s Crypto Fame and Risks
$WATER, a meme coin hosted on the Solana blockchain, had previously experienced relative obscurity despite its intriguing premise. Notably, 30% of its supply is controlled by insiders, adding a layer of complexity to its market dynamics. The token’s journey includes a recent presale where it achieved remarkable success, hitting its 55,555 SOL hard cap in under 10 minutes with nearly 333,000 SOL contributed.
Source: X
Before Messi’s endorsement, $WATER had struggled significantly, languishing over 90% below its all-time high. However, Messi’s public endorsement ignited a frenzy of investor interest, resulting in a meteoric 400% price increase over just two hours.
Such rapid and dramatic fluctuations highlight both the volatility and speculative nature of meme coins, which often rely heavily on social media attention and celebrity endorsements for momentum.
Source: X
One striking example of the impact of Messi’s endorsement was a single transaction where one of his fans reportedly invested $200,000 into $WATER tokens. This demonstrates the fervor and conviction that such endorsements can generate among followers and investors alike, underscoring the power of influencer marketing in the cryptocurrency space.
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