Lionel Messi did a memecoin advertisement: Increased by 500%!

Football legend Lionel Messi shared a story on Instagram promoting WaterCoin (WATER), a memecoin based on Solana.

Famous names are flocking to the memecoin market. With the recent addition of Lionel Messi, the memecoin craze has reached a different level. The football legend, who shared an Instagram story about WATER, brought a 500 percent increase to memecoin in a short period of time. Although the popular memecoin pleased investors, it continues to receive criticism for losing a lot of value recently.

Lionel Messi joins the meme coin craze in cryptocurrency

Astronomical movements in memecoins usually carry great risks as they are generally not based on a foundation. For example, WATER, which has dropped nearly 90% in the past few days, saw a 500% increase within minutes with the latest development.

However, this situation does not deter investors from taking significant risks in the hope of making a profit with luck. The popularity of memecoins is causing debates in the crypto community. Some investors have a negative view of memecoins due to the bad image they create and pressure from institutions. Others believe that memecoins are beneficial, bringing money into the sector and offering high-profit opportunities.

WATER, advertised by Lionel Messi, has gained 170% in the last 24 hours. WaterCoin currently trades at $0.0009337. The meme coin in question has a liquidity of 6.7 million dollars and a market value of 68.2 million dollars.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.