Ronaldinho Gaúcho Is the Latest Soccer Legend to Promote a Suspect Solana Token (WATER) on Instagram

WATER rallied 38.8% to $0.0012 one hour after Ronaldinho's post but has since dropped below $0.00083

Soccer legend Ronaldinho Gaúcho has become the latest high-profile figure to promote a crypto token on social media.

In an Instagram story on July 9, Ronaldinho shared a photo of himself with the mascot of Water Coin (WATER) peeking over his shoulder. The story tagged the token’s Instagram handle and included a drop of water emoji.

With 76.6 million followers on Instagram, Ronaldinho’s post quickly drew attention to the token, which is designed to support sustainable projects related to water scarcity.

According to CoinGecko, WATER price surged 38.8% to reach $0.0012 one hour after Ronaldinho’s post. However, the token has since dropped to below $0.00083.

As highlighted by Ronaldinho’s story, WATER aims to raise awareness for water-related issues, particularly in Africa, and support projects that prevent deforestation and aid water distribution.

The roadmap for Water Coin outlines its intentions to forge celebrity partnerships before transitioning into a charity-focused environmental token to achieve its goal.

While the WATER Foundation is said to have allocated only 5% of the 88.88 billion WATER tokens to itself, industry critics such as YouTuber Ajay Kashyap have flagged the token as a potential pump-and-dump scheme.

"Is this real or another pump and dump shit," added crypto commentator Ponga. "Stay cautious boys."

Ronaldinho’s promotion of WATER comes amid a broader trend of high-profile figures launching and promoting crypto tokens, including former Olympian Caitlyn Jenner.

UFC fighter Khazmat Chimaev also recently uploaded a video to his Instagram promoting a crypto token that bears his name — Khazmat Chimaev (SMASH) — but later claimed to have no involvement in the memecoin.

According to crypto sleuth ZachXBT, the SMASH token distribution had characteristics of a pump-and-dump scheme, with the SMASH team allegedly owning 78% of its supply.

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