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Lionel Messi Meme Magic Makes Cryptocurrency Soar 350%
On Monday, the Argentina national team and Inter Miami player shared a photo with his 504 million Instagram followers, helping the price of the WATER cryptocurrency surge by 356%.
The image showed Messi with the WATER mascot, a drawing of a glass of water, on his shoulder. He also included a link to the project’s Instagram page.
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Lionel Messi with the cryptocurrency WATER
(Photo: Instagram)
As a result, the price of WATER rose from $0.00032 to $0.00146 in just two hours, an increase of 356%. The price has since dropped to just over $0.001, but is still up 215.6% in the last 24 hours. The coin now has a market cap of around $94 million.
Not much is known about the coin. According to its dedicated website, its goal is to “achieve real-world positive impact through charity.” However, the site doesn’t provide details on how this will be accomplished, stating only that “WATER is a meme coin with no intrinsic value or expectation of financial return.” The developers hope to address issues such as deforestation and water distribution in Africa.
Messi’s connection to WATER may be due to his availability on cryptocurrency platform Bitget, which the soccer star has been promoting since October 2022. Representatives for Messi did not respond to requests for comment.
Former Brazilian football legend Ronaldinho has also been promoting the coin on his Instagram, helping to drive up its price. On Tuesday, he posted a photo with the water glass mascot.