• Ronaldinho is the most recent soccer star to advertise Water Coin on Instagram, a Solana-based meme coin
• Earlier this week, soccer legend Lionel Messi promoted Water Coin on his Instagram Tales
• The price of Water Coin rose almost 40% to $0.0012
• Water Coin claims it’s specializing in water-related points and sustainable initiatives

Soccer legend Ronaldinho Gaúcho has develop into the most recent to advertise the Solana-based meme token Water Coin on his Instagram account.

On social media, the Brazilian retired soccer star posted a narrative to his 76.6 million followers displaying a photograph of him with the Water Coin’s mascot peering over his shoulder. It additionally tagged the challenge’s Instagram account.

Following Ronaldinho’s publish, Water Coin’s price rose almost 40% to $0.0012. The thrill didn’t final lengthy, and on the time of publication, Water Coin’s price had levelled at round $0.00088, CoinMarketCap knowledge exhibits.

Ronaldinho’s publish follows that of one other soccer legend, Lionel Messi.

Earlier this week, the Argentinian participant promoted Water Coin on his Instagram Tales. Like Ronaldinho, Messi confirmed an image of himself with the meme coin’s mascot peeking over his shoulder, together with tagging the challenge’s Instagram account.

Notably, one of many exchanges itemizing the Water token is Bitget, an organization Messi has been partnered with since 2022.

Going through Criticism

In accordance with its web site, the charity token “aims to have a net-positive impact on [the] real world with the help of charity.” Nevertheless, it doesn’t state the way it will obtain this.

Regardless of the promotion from a number of well-known soccer gamers, some have met their posts with criticism.

Taking to X, analyst @ericonomics wrote of Messi that this was the “third token scam” that he’s promoted, including “this time it’s Water. They will probably rug soon so make yourself a favour and don’t buy that sh*t.”

“The first one was Leafty, which was a rug (they removed the liquidity like 5 days later lol),” @ericonomics wrote. “The second one was PLANET, a slow rug that is like -90% since that promotion.”

Equally, this isn’t the primary time Ronaldinho has been linked with a controversial crypto challenge. Final August, he appeared earlier than a Brazilian parliamentary committee inquiry over an alleged $61m crypto pyramid scheme that used his likeness with out permission.

The scheme, “18kRonaldinho, used photographs of the soccer star in its advertising whereas promising traders a 2% day by day return. Through the inquiry, Ronaldinho denied any involvement, claiming he by no means partnered with the corporate.