Meme币WATER5分钟募集4100万美元，「德国亲王」与Gotbit联手再收割？

Original author: Frank, PANews

Although the market has been performing poorly in recent days, there are still people crazy about making money with MEME coin.

On June 21st, a MEME coin called WATER Coin raised over $41 million in its pre-sale phase. The project raised 200,000 SOL coins within the first minute of the pre-sale, and 300,000 SOL coins within the first five minutes, worth about $41 million. This makes it the largest pre-sale case of a MEME coin to date, with over 26,000 wallet addresses participating in the pre-sale. On June 24th, the WATER token was listed on Solana, reaching a market capitalization of over $1 billion. This dramatic achievement is remarkable for a new project without clear endorsement. PANews conducted an in-depth analysis of this project and found that the popularity of the WATER token is not accidental.

The infamous “German Prince” is the mastermind behind the scenes

According to PANews investigation, the team behind WATER is actually the team behind the hot MEME token BEER on Solana.

BEER Token is a beer-themed MEME Token that reached 30,000 SOL in presales on May 20 and was worth nearly $5 million. Since its launch, the price of the BEER Token has skyrocketed, with a maximum pump of 30 times and a market capitalization of up to $500 million. According to netizens, the team behind the BEER coin is Marcus Prinz von Anhalt (commonly known as Prinz Markus), a beer maker from Germany, Prinz Markus is a famous businessman in Germany who runs longest nightclubs and brothels. Gaining traction for his lavish lifestyle, in 2006 Marcus Prinz von Anhalt, who was formerly known as Marcus Prinz von Anhalt, spent millions of dollars to buy his new name, Marcus Prinz von Anhalt, which means Prince Markus von Anhalt, through adoption by the Prince’s wife. Since then, Prinz Markus has been fond of referring to himself as the “Prince of Germany” in the media. In 2014, Prinz Markus was sentenced to up to four years in prison for tax evasion and fraud, and was also charged with Money Laundering, tax fraud and human trafficking.

From Prinz Markus’s social media information, it can be seen that he has been enthusiastic about investing in the cryptocurrency field in recent years. After the launch of the BEER token, he has actively endorsed BEER multiple times. Currently, Prinz Markus has 7.74 million followers on Instagram, and the prizes in the holding activities launched by BEER, such as CYBERTRUCK and private jet trips, free beer supply, etc., have also been displayed on Prinz Markus’s social media. However, Prinz Markus’s reputation is not good, and some people directly call him a scammer on social media.

According to netizens, another co-founder of BEER is German entrepreneur Ben Bilski, who was previously a professional swimmer and has won the German championship several times. After retirement, he has been continuously starting businesses in the technology field and has previously founded NAGA Group AG (one of the highest valued fintech companies in Europe). In March this year, Ben Bilski resigned as CEO of NAGA Group AG. Public information shows that Ben Bilski is also enthusiastic about cryptocurrency investment.

In addition to two German entrepreneurs, Gotbit Hedge Fund is also the behind-the-scenes operator of BEER. Gotbit has explicitly stated on Twitter that it has partnered with BEER and helped with market cap management. Gotbit is a hedge fund specialized in helping tokens achieve market cap growth. Previously, on X platform, on-chain detective ZachXBT expressed caution towards any project collaborating with market maker Gotbit Hedge Fund, as a leaked report indicated significant issues with the services provided. In this document, Gotbit claims that its strategy is to push the price up to 10 times during the initial few minutes of price discovery to create FOMO and accumulate as much buying power as possible, reaching a peak and then selling all tokens. Judging from the price curve of BEER, it seems to align with this manipulation approach.

Unique Marketing Strategies

Unlike many MEMEs, the marketing campaign for BEER tokens is not on Twitter, but on Instagram and Telegram. Its main user group comes from Germany and Dubai. Additionally, BEER has done more design in gameplay, in addition to normal pre-sales. BEER has also launched various holding rewards activities and rewards after the market capitalization breakthroughs certain intervals. Rewards include a private plane trip to Munich Oktoberfest, annual beer supply, a Tesla Cybertruck, and personally customized brewed beer.

After its release, WATER adopted the same marketing strategy. The holding reward of WATER includes cruise ships, Maldives travel, and other content. In addition, the WATER token simulates the characteristics of water in token design, and named staking and token burning as freezing and evaporation.

In addition, the BEER team fully leveraged its influence on Instagram to promote to many users who are not familiar with cryptocurrencies, including creating tutorials on how to register a wallet and purchase BEER tokens from scratch. Athlete absolut_lukas has commented on the project multiple times and shared it. The blogger has 66,000 followers on Instagram, and a Twitter user named @Shayaniii revealed, ‘They have reached out to many influential people (not just cryptocurrency enthusiasts) and spread it like wildfire, including major rap artists like Luciano.’ Of course, the biggest boost comes from Prinz Markus himself, who has promoted the token multiple times on Instagram.

In addition, the BEER community also has 2 million subscription users in the Telegram channel.

The team continues to dump, and on-chain snipers suffer serious losses

Although the BEER token had a significant increase in the early stages, its price has plummeted with the frequent selling from the team. As of June 25th, the BEER token has dropped more than 90% from its peak price, and the market capitalization has fallen to around $50 million. LookonChain monitoring found that the BEER team’s associated addresses have dumped multiple times after the price surge, selling more than $3 million in total. In response, the BEER official stated in the Telegram community: ‘On-chain analysis shows that 95% of the quota has been sold in the recent panic. For the project, this is a very good signal, and we expect that the subsequent sales pressure will be greatly reduced.’

Perhaps seeing the powerful wealth-generating ability of MEME coin, WATER achieved unexpected results during its issuance. It obtained a presale amount of 41 million USD within 5 minutes, far exceeding its anticipated hard cap of 55,000 SOL. Eventually, WATER increased the hard cap to 250,000 SOL (approximately 32.5 million USD) and refunded 11,000 SOL from the participating bot accounts.

After the WATER token went online, it quickly rose nearly 10 times in a short period of time, and then fell all the way within a few hours. As of June 25th, its price dropped to as low as $0.00097, which is below the opening price of $0.0016.

In addition, the development team seems to have replicated the rat trading operation on BEER. According to lookonchain, the development team has transferred 844 million WATER tokens to 11 wallets that did not participate in the presale. According to PANews’ investigation, these 11 wallets have currently sold WATER tokens worth 2.36 million USD, while still holding tokens worth 1.75 million USD, which are being sold off continuously.

An on-chain sniper suffered heavy losses in this opening, the sniper whose address starts with 63KCv bought 15,000 SOL (worth about $1.9 million) after the opening of WATER, and in less than 10 minutes, sold only 9,306 SOL, worth $1.2 million, losing $710,000.

For the BEER team, the results of this presale far exceeded expectations. However, it seems difficult to replicate BEER’s route on the market, and the team’s usual rat trading strategy has been exhausted. I wonder how many people will be willing to pay for the next beverage MEME coin issuance.

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