Superstar Afrobeat artist Davido Adeleke is under heavy criticism after fans experienced significant financial losses just 24 hours after investing in his $DAVIDO meme coin.
The singer launched this cryptocurrency, which operates on Solana’s blockchain technology.
Initially, the token gained popularity, attracting numerous supporters who invested heavily. However, once the coin’s value surged, Davido allegedly cashed out his earnings, causing the price of $DAVIDO coins to plummet dramatically.
One disappointed fan shared a screenshot showing the collapse, revealing that after investing over $150, his account balance had dropped to just $20, representing an 86.6667% loss.
This incident has sparked a wave of backlash against Davido, as many fans feel betrayed by the sudden devaluation of the meme coin.
Reacting, fans say…
aideinfluence: “I missed out on the first space. Came online, the PR was good and I thought he had created magic, so I bought the top. 30BG suppose fit run 30M nau. I waited until the midnight space, it was then I knew the mistake I made. The moment he spoke on that space, everyone started selling. I cried.”
yobrxxzy: “Davido as a musician grossed $192k. Davido as an influencer made $473k. Wizkid was right at the end of the day.”
UnkleAyo: “I hope Davido knows that he can go to jail for coordinated scams. SEC currently has filed charges against Jake Paul, Soulja boy, Lil yachty and Lindsay Lohan. He’s also not a “first offender”. He’s not poor. I don’t know why he’s moving like a fool and a fraudster.”
FaruqBashar: “Davido did same thing a lot of big crypto influencers did here to get rich, Gas up a project, then dump on the community. The game is the game, eat or get eaten.”
