Ronaldinho Also Balls Out for That Meme Coin, Not SHIB! But…

Ronaldinho da SHIB Değil O Meme Coin için Topa Girdi! Ancak...
Ronaldinho da SHIB Değil O Meme Coin için Topa Girdi! Ancak...
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Ronaldinho Gaúcho is the latest soccer legend to promote the Solana-based meme coin Water (WATER) on Instagram, following a similar post from Lionel Messi’s Instagram account. Messi shared a photo of himself with the Water coin’s mascot in an Instagram story sent to his 76.6 million followers on July 9. Thus, the WATER token attracted attention with its unique approach.

Ronaldinho also introduced the meme coin WATER, but there are doubts!

As you have been following on Kriptokoin.com, Lionel Messi’s Instagram story rocketed the meme coin WATER. Not long after, another famous soccer player also promoted WATER. Brazilian legendary soccer player Ronaldinho shared WATER, a Solana-based token, with his 76.6 million Instagram followers. Meanwhile, the token launch saw around 38% of the total tokens concentrated in a wallet cluster. This concentration sparked discussions about the potential risks of centralization and control over the token ecosystem.

This is not Ronaldinho’s first foray into the crypto space. Known for supporting other crypto projects, Ronaldinho has faced criticism in the industry for backing what some have called “low-quality crypto scams”. These projects often promise high returns or unique benefits but lack transparency or solid foundations. Despite the skepticism surrounding the distribution and previous endorsements, Ronaldinho’s involvement has undoubtedly given meme coin visibility among its large global fan base.

Meme coin price performance

WATER surged 38.8% to $0.0012 an hour after Ronaldinho’s post, according to CoinGecko data. However, it has since fallen below $0.00083. Its price is currently 71% below its all-time high on June 26.

WATER monthly price chart. Source: CoinGecko

The price of WATER has increased 158% since Messi’s Instagram post on July 8, when he shared a picture similar to Ronaldinho’s post.

Speculation around Water Coin!

According to its website, Water Coin focuses on raising awareness of water-related issues, including supporting sustainable projects that prevent deforestation and help distribute water in Africa. The project’s roadmap outlines its plans to build renowned partnerships before becoming a charity-focused environmental token to achieve its goal. While the Water Foundation allegedly distributed only 5% of the 88.88 billion WATER tokens to itself, YouTuber Ajay Kashyap was among industry critics who flagged WATER as a potential pump-and-dump token. Crypto commentator Ponga said, “Is this for real or just another pump and dump bullshit? Be cautious, guys.”

Meme coin

In August, Brazilian national Ronaldinho appeared before a Brazilian parliamentary committee investigation over an alleged $61 million crypto pyramid scheme using his likeness. The scheme, called “18kRonaldinho,” promised investors a 2% daily return and used images of the retired soccer star in its marketing. Ronaldinho denied any involvement in the scheme, saying he was never a partner in the project, and argued that he was victimized because his likeness was used without his permission.

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Ronaldinho Also Balls Out for That Meme Coin, Not SHIB! But…