Title: The Success of WATER Coin: A Dramatic Pre-Sale and the Controversial Figures Behind It
Although the market has been performing poorly in recent days, there are still people making a fortune with MEME coins.
On June 21, a MEME coin named WATER Coin raised over $41 million in the pre-sale phase. Within 1 minute of the pre-sale launch, the project raised 200,000 SOL, and within 5 minutes, it raised 300,000 SOL, with a total value of approximately $41 million. This made it the largest MEME coin pre-sale to date, with over 26,000 wallet addresses participating. On June 24, WATER token was listed on Solana, reaching a market value of over $1 billion. The success of this project was dramatic, especially for a new project with no clear endorsement. An in-depth analysis by PANews revealed that the popularity of the WATER token was no coincidence.
The notorious “German Prince” is the mastermind behind WATER Coin
According to PANews investigation, the team behind WATER is the same team that managed the MEME token BEER, which was hot on Solana. BEER, a beer-themed MEME token, had a pre-sale on May 20, raising nearly $5 million with 30,000 SOL. After its launch, the price of BEER token skyrocketed, reaching a peak market value of $500 million. It was revealed that the team behind BEER token included Marcus Prinz von Anhalt, also known as Prinz Markus, a German businessman known for his luxurious lifestyle. Prinz Markus has been involved in controversial legal issues, including tax evasion, fraud, money laundering, tax fraud, and human trafficking.
Prinz Markus has been actively involved in cryptocurrency investments in recent years, openly endorsing the BEER token after its launch. With 7.74 million followers on Instagram, Prinz Markus has significant influence. However, his reputation is tarnished, with some referring to him as a scammer on social media.
Another co-founder of BEER is German entrepreneur Ben Bilski, a former professional swimmer who later founded NAGA Group AG, one of Europe’s most highly-valued financial technology companies. Ben Bilski is known for his interest in cryptocurrency investments.
In addition to the two German entrepreneurs, the BEER team also includes the Gotbit hedge fund, which has openly collaborated with BEER to manage its market value. Gotbit is known for helping tokens achieve value growth.
Unique Marketing Strategies
Unlike other MEME tokens, the marketing of BEER token was not on Twitter but on Instagram and Telegram, targeting users from Germany and Dubai. The BEER token also offered various holding rewards and market value breakthrough rewards, including a private trip to the Munich Beer Festival, annual beer supplies, a Tesla Cybertruck, and custom-brewed beer.
WATER token adopted a similar marketing strategy after its launch, offering holding rewards such as a cruise and a trip to the Maldives. In addition, the token design of WATER mimics the qualities of water, naming staking and token burning as freezing and evaporation.
The BEER team leveraged its influence on Instagram to promote the token to users who were unfamiliar with cryptocurrency, even providing tutorials on how to register wallets and purchase BEER tokens. The team also collaborated with influential individuals and celebrities to promote the token, including a well-known rapper.
Continuous Selling by the Team, Severe Losses for Sniper Traders
Although the BEER token saw significant initial gains, the frequent selling by the team led to a steep decline in price, with a market value dropping to around $50 million. The team’s associated addresses were found to have sold over $3 million after the price surge. Similarly, the WATER token experienced a sharp rise and fall after its launch, with the development team transferring a large number of tokens to other wallets, causing significant losses for some traders.
In conclusion, while the pre-sale of the WATER token exceeded expectations, the controversial figures behind the BEER token and their marketing strategies have raised concerns about the sustainability of such projects in the future.