Deniz 
Following a similar post from Lionel Messi’s X account yesterday, Ronaldinho Gaúcho, the newest soccer icon to endorse the Solana token Water Coin (WATER), is promoting it on Instagram.
A July 9 Instagram story to his 76.6 million followers featured him with Water Coin’s mascot peering over his shoulder, tagging the token’s Instagram account.
After Ronaldinho’s post, WATER rose 38.8% to $0.0012 in one hour, but CoinGecko statistics reveal it has subsequently plummeted below $0.00083. From its June 26 all-time record, the price is currently down 71%.
Related: Lionel Messi Advertised Solana Memecoin ‘Water’
From Messi’s Instagram post on June 8, which showed a similar image to Ronaldinho’s post, WATER’s price is up 158%.
According to its website, Water Coin is claimed to be focused on increasing awareness for water-related problems, including funding sustainable programs that stop deforestation and assist water distribution in Africa.
Before turning into a charity-oriented environmental token, Water Coin’s roadmap shows its intentions to create celebrity alliances in order to reach their aim.
Although the WATER Foundation allegedly only gave 5% of the 88.88 billion WATER tokens to each individual, YouTuber Ajay Kashyap was among the industry detractors who pointed out WATER as a possible pump-and-dump token.
“Is this real or another pump-and-dump crap?” crypto analyst Ponga asked. “Stay wary, guys.”
Brazilian national Ronaldinho showed up before a Brazilian parliamentary committee investigation in August about an allegedly $61 million crypto pyramid scam using his image.
Using pictures of the retired soccer player, the program, “18kRonaldinho,” offered 2% daily profits to investors.
Declaring he never worked with the initiative and claiming he was also a victim as it utilized his likeness without authorization, Ronaldinho denied any involvement in the plan.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.