Argentine world football legend Lionel Messi is promoting a Solana-based meme coin called WaterCoin (WATER) through Instagram stories.
According to the documentation, the project has an environmental focus.
“WATER will drive global marketing and social campaigns, driving billions of views to water-related issues, and announce partnerships with the world's largest charities and decision-makers,” the description reads.
The project roadmap is divided into four main stages: Rain, River, Sea and Ocean. These include pre-selling the token, listing the asset on centralized exchanges, partnerships with celebrities, and turning the coin into a “charitable environmental currency” with global adoption.
Lookonchain analysts noticed that the start of WaterCoin trading on DEX Raydium and Jupiter in June was accompanied by strange movements of funds in the developer’s wallet. He transferred 844.44 million WATER to 11 new wallets that did not participate in the pre-sale. These addresses subsequently received over 18,600 SOL ($2.35 million) in the coin reset.
Shortly after the launch, the price of the token collapsed, which gave rise to economist and trader Alex Kruger to call the asset a “real shitcoin.” In his opinion, the decline in quotations was explained by insiders dumping coins.
However, on July 8, the WaterCoin rate recovered to levels near $0.0009.
