As a researcher with experience in the cryptocurrency market, I’ve seen firsthand how celebrity endorsements can significantly impact the price and popularity of certain tokens. The recent surge of celebrity crypto meme coins, such as WATER endorsed by Lionel Messi, is no exception. While some may dismiss this trend as hype or a passing fad, I believe that these tokens represent an important shift in how mass audiences are being introduced to the world of cryptocurrencies.
As a researcher exploring the current trends in the crypto market, I’ve noticed that despite Vitalik Buterin’s expressed displeasure with the rise of celebrity-backed tokens during this cycle, these digital assets have persisted in gaining traction among investors. Recently, WATER, which has Lionel Messi, one of the greatest soccer players in history, as an endorser, has shown exceptional market performance. For those intrigued by this phenomenon, here are three other celebrity-endorsed cryptos worth investigating.
1. Celebrity Crypto –WATER (WATER)
I’ve noticed an intriguing development in the crypto world: Water, the latest meme coin, has gained significant popularity recently. At present, the price of Water is hovering around $0.000917, representing a substantial leap of 205% within just the past 24 hours.
Fourteen days have passed since the introduction of the Water digital currency, only to experience a drastic 93% plunge in value shortly after its launch. This price drop is often indicative of projects that have carried out a “rug pull,” a deceptive practice where developers abandon their project and take users’ funds with them. However, contrary to expectations, the Water development team has been actively working behind the scenes during this period to find a solution.
On July 8, the value of WATER surged by an astounding 418% following Lionel Messi’s endorsement on his Instagram stories. This renowned soccer star has a vast following, causing a significant surge in demand for the meme coin. However, earlier buyers have since cashed in on their profits, leading to a retracement of the price. The excitement and buzz surrounding the token will be a key factor in determining if it continues to climb higher.
As a crypto investor, I’m pondering over the potential of Water with a total token supply of 73 billion. Currently, its market capitalization hovers around $67 million. At its peak, Water reached an impressive market cap of over $800 million. Some investors are optimistic and questioning if this digital asset can regain those heights.
2. Mother Iggy (MOTHER)
In the vibrant world of cryptocurrency, Mother Iggy makes a significant impact, an innovative project spearheaded by renowned music sensation Iggy Azalea. Known for her online presence showcasing her physique, this celebrity has made headlines with her digital currency endeavor. She has forged alliances with esteemed partners MadLabs NFTs and Tensor.
With a supply of 990 million tokens residing on the Solana blockchain, Mother holds a unique position in the crypto market. The perception that Ethereum is too complex and expensive for non-crypto enthusiasts persists. In contrast, Mother capitalizes on its launch platform’s advantages and presents an excellent opportunity to bring mass audiences into the blockchain ecosystem. As a result, Mother could potentially outperform other projects due to Solana’s user-friendly nature and lower transaction fees.
MOTHER’s current price is at $0.0345, representing an 86% decrease from its record high. Yet, cryptocurrency advocates persist in viewing Mother Iggy as a unique chance and predict that it will eventually reach a market capitalization of $1 billion. Currently, MOTHER boasts a market cap of merely $34 million, contrasting with its historical peak of over $250 million. Azalea has been an active participant in Mother Iggy’s X (previously known as Twitter) spaces, demonstrating her proficiency in crypto and Web 3.0 technologies.
3. Daddy Tate (DADDY)
Approximately a month ago, on the Solana blockchain, the Daddy Tate meme coin was introduced. This coincided with the launch of Mother Iggy only a few days prior. The name DADDY derives from the famous internet persona, Andrew Tate. On June 13th, the responsibility for the project was handed over to the community following the departure of its developer. Since then, Mr. Tate has actively expressed his support for the Daddy Tate token and has made significant purchases involving large quantities since June 11th.
$DADDY the purging fire of $TRW
— Top G Mastery (@topgmastery) July 4, 2024
As a researcher studying the cryptocurrency market, I’ve observed that Daddy’s current price hovers around $0.1549 following a significant 13.8% decrease over the past 24 hours. Prior to this dip, Daddy reached an all-time high of $0.36 on June 12. Subsequently, it experienced a drastic downturn, plummeting approximately 79% within a week. However, since hitting its lowest point on June 21, Daddy’s price has been on the rise and is now moving inside an uptrend channel.
If the cost of Daddy’s stock is projected to climb by approximately 40% in the upcoming days to challenge the $0.22 resistance mark. Should bulls emerge as the victors, the price could surpass this barrier and surge towards reclaiming its previous peak price, which represents a potential increase of around 57%. Conversely, if bears gain control, Daddy’s stock might dip below the ascending trendline and aim for support near $0.07.
Conclusion
As the hype surrounding meme coins linked to celebrities like Messi’s WATER persists, a more significant trend is emerging. The upcoming 2024 bull market could surpass all previous ones due to the vast number of non-crypto adopters who have joined this year. Institutions such as BlackRock and Ondo Finance, as well as Telegram’s Notcoin and Hamster Kombat, are just a few examples of the increasing influx of liquidity into the crypto sector. This massive injection of funds will fuel prices to uncharted heights once the bull run commences.
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2024-07-09 14:17