Argentine soccer player Lionel Messi has joined the list of celebrities promoting meme coins through their social media accounts.

Following this promotion, the token price However, some believe that the soccer legend's Instagram account was hacked to promote the Solana meme coin WATER.

Argentine soccer star Lionel Messi has joined the list of celebrities promoting meme coins through their social media accounts. While some believe that the soccer legend’s Instagram account was hacked to promote the Solana meme coin WATER, others are speculating that the meme coin was created by the team behind the BEER meme coin.

As reported by Kriptokoin.com, the selling pressure on Bitcoin has been affecting the entire market. However, the price movements of some tokens continue to amaze those who follow them closely. Some of these tokens have been quietly generating massive gains, while others have interesting stories behind them. On Monday, Lionel Messi shared one of these stories with his followers by posting about the WATER meme coin on his Instagram story. He also tagged the meme coin’s Instagram page in his story.

Considering that Messi usually supports green projects, the meme coin post might be confusing to some of his followers. However, the post in question remained up as of July 9, and the footballer also did not report that his Instagram account had been hacked. Many of his fans believe that hackers must have taken control of Messi’s Instagram account, especially since he was getting ready to face Canada (from Argentina) in the Copa América.

It is not clear whether Lionel Messi’s Instagram account was hacked. However, many are disappointed that the soccer legend is promoting a meme coin. The crypto community is also speculating that the team behind the BEER meme coin launched WATER, and a user going by the nickname Golden Deged expressed his disappointment with the following statements:

“Messi just did a paid Instagram sponsorship and shilled a meme with an illiquid $25 million market cap that a feeder Dubai scam group created to 500 million Instagram followers. Damn, this guy used to be my GOAT!”

The meme coin price rocketed after the famous soccer player’s post!

There are other red flags related to the WATER meme coin. On-chain analytics platform Bubblemaps reported that insiders control 30% of the WATER supply. However, after Messi’s Instagram post, the WATER meme coin rose from $0.0003188 to $0.001501. This increase translates to a rally of around 370%. According to the latest data, WATER is still changing hands at $0.00111, up about 266%.

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