Lionel Messi Is Shilling a New Memecoin Called WaterCoin That Promises to Raise Awareness About Water Issues

International soccer legend Lionel Messi has jumped on the meme bandwagon and is promoting a Solana-based memecoin called WaterCoin (WATER) through his Instagram Stories.

International soccer superstar Lionel Messi has joined the meme bandwagon and is promoting a Solana-based memecoin, WaterCoin (WATER), through his Instagram Stories.

According to the project's documentation, WaterCoin is focused on raising awareness for water-related issues, with the ultimate goal of becoming a full-fledged ecological coin in the future.

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WaterCoin's roadmap outlines four stages, starting with the initial presale of the token, followed by centralized exchange listings, celebrity partnerships, and finally becoming a "charity-focused environmental currency." While the roadmap provides a high-level overview of the project's goals, it lacks specific details on how it will achieve them.

However, the token's price action closely resembles the pattern observed in "pump and dump" schemes.

Memecoin madness continues

Investing in memecoins is highly risky, as the astronomical price increases are typically not linked to the utility of the underlying asset, assuming there is any use case for the meme token.

Despite the high risks involved, traders are investing heavily in memecoins, hoping to generate windfall profits. The popularity of memecoins has sparked heated discussions within the crypto community.

Some view memecoins negatively due to the bad image they create and the resulting increased scrutiny from regulators.

Related: Khamzat Chimaev ‘wasn’t involved’ with SMASH memecoin — Manager

Others maintain that memecoins do have utility, serving as broader trend lines, gauging market sentiment, and fostering vibrant communities that provide value for their members.

Onchain ecology

Cryptocurrencies and blockchain technologies offer new possibilities for environmental protection because of their transparency and community-empowering technologies.

These technologies could enable trustless crowd-sourcing, organization, and onchain verifiability.

In 2022, Samsung joined the ranks of those using blockchain systems to track planted trees, utilizing Veritree's technology. The initiative centered around capturing 1 billion pounds of carbon over the next 25 years by replenishing forests in Madagascar.

The environmental scrutiny Bitcoin ( BTC ) has drawn has also seen a growing focus on sustainable mining practices and harnessing renewable forms of energy like solar, geothermal, and even nuclear energies to mine digital scarcity.

BTC

( BTC )

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El Salvador is one of the leading examples of this, with the country recently announcing it mined 474 Bitcoin using geothermal volcanic energy.

Magazine: 1 in 6 new Base memecoins are scams, 91% have vulnerabilities

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