Lionel Messi’s Instagram Teaser Sparks 350% Spike in Watercoin Value

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Lionel Messi, arguably one of the most elite professional footballers in global history, took his fan base of over half a billion on Instagram by surprise on Monday. With a teaser of his participation in the newly-unveiled Solana-based memecoin, Watercoin (WATER), Messi stirred a wave across the digital landscape. His post, featuring an image swathed in the brand’s emblem along with a hyperlink directing to Watercoin’s public Instagram profile, drove a skyrocketed growth of the crypto token by an impressive 350%.

The escalating surge of Watercoin from a humble $0.00032 to a captivating $0.0015 in a matter of hours was the talk of the town. The viral post also elevated WATER’s market capitalization by a significant 325%, even transcending the much-aspired benchmark of $100 million.

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Immediately after this sudden spurt in interest, there was a noticeable discord in the air. Netizens started voicing their skepticism regarding the authenticity of Messi’s involvement with the crypto project. While some posed the possibility of the footballer’s Instagram falling prey to cyber hacks, the retention of the post in Messi’s Instagram story, without bearing signs of removal or a public confession of an alleged hack, indicates a plausible personal endorsement.

Adding more credibility to Messi’s endorsement was his previous foray into a partnership with the Real-World Assets (RWA) tokenization platform back in February. Following the announcement, PLANET, the platform’s token, experienced a surge in price volatility, witnessing a stratospheric rise of 1500%.

By Tuesday morning, the air was ripe with further corroboration. Ronaldinho, the renowned retired Brazilian football sensation and Messi’s former teammate, followed suit in promoting WATER via his own Instagram channel. The promotional post bore striking resemblance to Messi’s initial endorsement, featuring a snapshot with the WATER logo, stirring more interest in the project.

However, the newfound public fascination with WATER was not without its share of skepticism. Pessimism started brewing amongst the crypto community as users identified the team responsible for the inception of Watercoin as the ones behind another Solana-based memecoin, Beercoin (BEER). Beercoin was tarnished by a 95% price plummet following a series of high-volume sales by its predominant stakeholders, resulting in the token’s drastic depreciation.

Similar concerns plague Watercoin, especially with controversial speculations surrounding insider trading activities. Crowd-drawn attention from crypto analytics firm Bubblemaps has indicated the tight grip insiders hold over 30% of WATER’s total supply.

What’s notable is WATER’s financial journey so far. After raising a staggering $40 million in presales and reaching a $1 billion market cap following its launch last month, the token now navigates through unsettling waters. A slew of “significant insider activities” saw an alarming 97% drop in the coin’s value.

Despite this hindrance, certain crypto market enthusiasts are already forecasting a strong standing for WATER. VikingXBT, based on prevailing trading activity, contends that the token shows potential for doubling its price upon successfully outpacing the formidable $0.0011 resistance level.

As it presently stands, WATER is valued at $0.00095, marking a nearly threefold price rise within the past 24 hours. Thus, even though there’s a significant amount of apprehension clouding this new entrant into the crypto marketplace, its recent surge and celebrity endorsements certainly make its tale one to watch closely.