Memecoins

Football Icon Lionel Messi Sparks 150% Surge in Controversial Meme Coin: Here’s What Happened

One meme coin experienced a 150% daily surge after being promoted by Lionel Messi on Instagram. Concerns emerged about a possible hack of his account. It is important to note that meme coins are volatile and may be associated with “pump and dump” schemes, so investors are advised to do their own research and proceed with caution.

The meme coin market saw a significant rebound recently, with various assets like Bonk Inu (BONK) and Pepe (PEPE) recording double-digit price increases. Lesser-known tokens, such as WATER Coin (WATER), have shown even more impressive gains, with a daily increase of 150% following Messi’s endorsement on Instagram.

There is speculation that hackers may have taken over Messi’s account to attract fans to the meme coin ecosystem, while others believe Messi himself may be unaware of the situation due to his focus on the Copa America semi-final against Canada. It is also noted that 30% of WATER’s supply is controlled by insiders.

Experts recommend conducting thorough research before investing in meme coins, even if endorsed by prominent figures like Messi. Meme coins, while popular during bull cycles, carry risks such as volatility and potential involvement in fraudulent schemes.

DADDY, another controversial meme coin promoted by Andrew Tate, experienced a surge in value after an announcement by the influencer. However, insiders reportedly purchased 30% of the token’s supply at launch, raising concerns about transparency and sustainability in the project.

To navigate these risks, it is advised to exercise caution, conduct due diligence, and only invest what you can afford to lose. For more insights and tips, refer to the accompanying video on this topic.

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