Argentinian football star Lionel Messi recently endorsed the Solana memecoin Water on his Instagram story, reaching out to his massive following of 504 million fans. The popular memecoin saw a significant increase of almost 60% in value after Messi’s post, although it has since settled to a 4.5% gain. According to CoinGecko and DEX Screener, Water was launched just two weeks ago and currently has a market cap of $73.6 million with a daily trading volume exceeding $105 million.
Celebrity endorsements of memecoins have become increasingly common in the meme ecosystem, with various public figures getting involved in the trend. Water, however, distinguishes itself by pledging to support global charities and research organizations. The project, which operates on the Solana blockchain, generated around $42 million in SOL during its pre-sale and is the first memecoin to be backed by a major star like Messi.
Vitalik Buterin, the founder of Ethereum, has advocated for meme projects that prioritize social good over personal enrichment. He highlighted the importance of celebrity crypto projects having a public-good goal beyond simply benefiting the celebrities and early investors. This aligns with Water’s mission of contributing to charitable causes and research efforts.
In today’s crypto landscape, where memecoins are gaining popularity, having a well-known figure like Messi endorse a project can significantly impact its success. The connection between celebrities and cryptocurrencies is becoming more prevalent, attracting attention from a diverse range of industries.
Water’s association with Messi not only exposes the memecoin to a broader audience but also emphasizes the importance of supporting initiatives that aim to make a positive impact on society. As more celebrities join the crypto space, the focus on social good and community-driven projects is likely to increase, reshaping the narrative around meme coins and their potential influence.
Overall, Messi’s endorsement of Water reflects a growing trend of celebrities aligning with cryptocurrency projects that prioritize philanthropy and public welfare. This partnership not only raises awareness about the memecoin but also underscores the significance of leveraging fame and influence for meaningful causes in the crypto world.