TechFlow reported that on Monday, Messi's Instagram account suddenly posted a story promoting Solana memecoin WATER. Messi's Instagram account has 504 million followers, second only to football star Cristiano Ronaldo. The Instagram account of WATER memecoin also shared the story, showing a photo of Messi with the memecoin logo.

WATER surged more than 55% following Messi’s Instagram post, but has given back half of those gains by press time, according to CoinGecko.