Lionel Messi’s brief foray into memecoin promotion reignited debate about celebrity-backed crypto projects and hype-driven markets. In July 2024, Messi used his massive Instagram reach to endorse a little-known Solana-based token called $TIME.
Messi’s $TIME endorsement and the initial surge
Messi sharing $TIME on Instagram exposed the token to tens of millions of his fans. The post sparked a rush of buying activity, pushing $TIME’s price sharply upward within hours. On July 27, 2024, the token hit an all-time high of $0.00007954, fueled almost entirely by the visibility of Messi’s name rather than any technical development.
The power of Messi’s name
Messi has endorsed a long list of companies and products over the course of his career, spanning sportswear, beverages, tourism campaigns, and, more recently, cryptocurrency. Brands like Adidas, Pepsi, Budweiser, and Gatorade have sought his global appeal. Messi signed an extraordinary lifetime contract with Adidas reportedly worth around $10 million per year. His partnership is said to have driven record sales for Adidas in North America. Businesses know the power of his name and image. Even brief social media mentions from Messi tend to generate outsized attention, a pattern that carried over into his short-lived crypto promotions in 2024.
The eight-time Ballon d'Or winner’s next signing might be one closer to his heart: Newell’s Old Boys vice president has said the club are aiming to bring Messi back to the club that named a stand after him. Juan Manuel Medina told TN in Argentina that Messi signing was a project for Rosario, the province, and Argentina football as a whole. The idea originated in 2024, per The Athletic.
Why celebrity-driven crypto hype is risky
Messi’s involvement in crypto brought attention, but it highlighted how superficial celebrity-driven hype can be. Endorsements can trigger sudden inflows of capital, but they rarely change the fundamentals of a project. When expectations are built on fame alone, disappointment often follows.
Solana-based tokens like $TIME are often compared with Ethereum and other major blockchains, especially when crypto supporters discuss how different networks support gaming, payments, and digital ownership. Ethereum gaming insights reveal that the benefits of using cryptocurrency include lower transaction fees, faster processing times, and increased privacy. Those advantages matter when a token is tied to an ecosystem or service that people actually need. Memecoins like $TIME often struggle to connect those benefits to real-world usage.
Rapid decline after the hype faded
The excitement around $TIME didn’t last long. By July 29, 2024, only two days after its peak, the token had dropped to around $0.000036. While the 24-hour trading volume remained active at roughly $6.1 million, the price decline showed how quickly sentiment shifted after the initial hype.
It wasn’t Messi’s first crypto-related promotion. Earlier in the month, on July 9, 2024, he had endorsed another Solana memecoin, $WATER. That token saw a similar spike before collapsing by more than 90 percent in 20 days. For many traders, $TIME looked like a repeat opportunity to catch a fast pump, while others saw warning signs based on recent history.
This kind of movement is common with celebrity-endorsed tokens. A surge driven by social media exposure tends to attract short-term traders looking for quick gains. When early buyers take profits and new demand slows, prices often fall just as fast as they rose.
Mascherano says Messi can play at World Cup 2026
In other Messi news, Inter Miami boss and former teammate Javier Mascherano has said “Yes, why not?” when asked whether Messi could play at the World Cup this year. It would be the sixth finals of his career, a feat that would be matched by Cristiano Ronaldo and Guillermo Ochoa if they are selected.
Messi has previously said he hopes to play at the World Cup and “at worst” he will be watching it live.
The Argentina star has ruled himself out of the match against Spain, scheduled for March 27.
Messi joined by de Paul permanently
Having had Rodrigo de Paul on loan in the last MLS season, Miami signed Messi’s Argentina teammate permanently for $15 million. He is now one of the three marque players allowed on the team. De Paul’s new salary will be announced by the MLS Players’ Association in the spring but is expected to be closer to what he earned at Atletico Madrid.
According to a report from The Guardian, Messi’s presence at Miami has helped persuade players to accept smaller salaries than they would otherwise. Goalkeeper Dayne St Clair, left-back Sergio Reguilón, defender Micael, defensive midfielder David Ayala, and attacker Berterame have joined in the off-season.
Such players might have counted as marquee signings for MLS rivals. They are simply part of the regular squad at Miami, who are seen as favorites for the title in 2026. Los Angeles FC are widely seen as their likeliest challengers, with Vancouver Whitecaps, San Diego FC, FC Cincinnati and Philadelphia Union hoping to spring a surprise.