TOP football players Lionel Messi and Ronaldinho advertise the WATER meme token on Solana on their social networks. The#Bubblemapsproject notes that a third of the coins of this project (which Messi advertises on Instagram to his audience of 504 million people) are in the hands of insiders.
In short, football players are advertising shieldcoin, the overt purpose of which is to allow insiders to unload on the crowd.
This meme token is one of a number of “drink” tokens on#Solanathat have been launched into the market in recent months. Among them are #COFFEE, #AQUA, #BEER. The story of the launch of such tokens is most often trivial - a scam at the token sale. Schematically it looks like this:
- The project is launching active advertising for the preparation of a token sale with the prospect of “X”.
- Advertising is purchased in a whole pool of platforms (channels, pages, accounts). Here it is optional - either for money or for issuing these tokens to the authors.
- Channel subscribers begin to participate and buy, conditionally, at the “cheap” price of $1.
- By the time trading starts, when the price rises above $1, insiders and, possibly, the authors of advertising platforms unload on the buying crowd. But many (or even all) participants in the token sale do not receive coins at the start and wait.
- Token sale participants receive their coins only when the price goes below their purchase price at the token sale. And they are forced to either sell at a loss, or be locked into liquidity and hope that the asset will show growth again.
It doesn’t always happen like this, but token sales of dubious projects on dubious sites are always a risk. The described scheme is not the worst. Tokens may, in principle, not be issued, all liquidity will be withdrawn and go into the sunset.
