The meme coin Water (WATER) value, based on the Solana blockchain, has grown by 120%. This has made the word “water” a hot search term on Google.
New data from CoinMarketCap says that WATER is now worth $0.00092, a huge 122% increase. The coin has been traded for about $40 million, 243% more than 24 hours ago. It is now worth $82.23 million on the stock market.
Football star Lionel Messi shared a picture of the meme coin on Instagram, which 504 million people saw. This was a big reason why the value of WATER went up so quickly. The post raised the value of WATER by almost 400% in just three hours after it went live. But since its high point on June 25, it has dropped by 72%. A large part of the supply is controlled by a small group of wallets that hold 35% of all WATER tokens.
Water Coin Ownership Concerns Amid Messi’s Influence
An on-chain data company called Bubblemaps is worried about this concentration of ownership and has warned investors about the risks. However, fears have been put aside because Messi is behind the coin, and many people are excited about it.
When people said that WATER was being manipulated, a user named “yourfriendSOMMi” said that Messi’s support was planned, even though Messi wasn’t said to know much about cryptocurrencies. People say the team is connected to meme coins like BEER and TEA, which were involved in big scams that cost a lot of money.
Hackers used famous people’s social media accounts not long ago to promote meme coins. But Messi’s post looks real since it’s still live and hasn’t been hacked.
The WATER website says that the group wants to make a big change in the world, but it doesn’t say what those plans are. There is a link between the coin and the people who made BEER, but it has no value or cash flow.
WATER can be bought and sold at Bitget, BitMart, and MEXC. The year has also been great for Bonk (BONK) and Brett (BRETT), two other joke coins based on Solana.
Bitcoin and other cryptocurrencies are going crazy waiting to see what WATER does next as long as Messi backs it.
