"Water-themed memecoins have also appeared now, maybe later there will also be fire, wind and many more memecoins."
Ronaldinho Gaúcho, the Brazilian football legend grabbed attention shortly after showing a photo of himself with the Water Coin (WATER) mascot peeking over his shoulder on his Instagram social media platform which has 76.6 million followers.
Earlier on July 8, 2024, WATER climbed 158% following Lionel Messi who shared a similar picture as Ronaldinho managed to increase its price by about 38.8% at $0.0012 before falling back slightly.
In context, the WATER cryptocurrency focuses on raising awareness for water-related issues including supporting all projects that prevent deforestation and help water distribution in Africa.
Not only that, WATER's roadmap also outlines its plans to form celebrity partnerships before becoming a charity-focused environmental token to achieve its goals.
Although the Water Foundation is said to have only distributed 5% of the 88.88 billion WATER to itself, YouTuber Ajay Kashyap is among the critics of the crypto industry who have labeled WATER as a pump-and-dump token.
It is well known that Ronaldinho in August 2024 appeared before a Brazilian parliamentary committee investigation into an alleged $61 million crypto pyramid scheme, where it promised investors 2% daily returns and used his retired soccer star image in its marketing.
Even so, Ronaldinho, who denied any involvement in the scheme, has said that he never cooperated and instead argued that he was a victim following the abuse of his face without permission.
