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Davido breaks silence amid alleged $Davido coins fraud
Afrobeat star Davido continues to promote his $Davido coins despite facing allegations of causing his followers financial losses on their investments. This controversy emerged after some fans blamed him for their losses, although a few others reported making profits from the token.
In a recent post on the X platform, Davido addressed his $Davido coins, encouraging his fans to join the community. He wrote, “Join the community $DAVIDO! More spaces coming soon and you’ll be REALLY excited by who we got coming up next! @davidotoken_sol.”
In a follow-up post, Davido added, “Those who joined the space with me and @blknoiz06 got to witness me creating my @phantom wallet and receive $100 via the @solana network in a matter of seconds!”
Despite the mixed reactions, Davido remains optimistic and actively engaged in promoting his cryptocurrency venture.
Join the community $DAVIDO ! More spaces coming soon and you’ll be REALLY excited by who we got coming up next! @davidotoken_sol
— Davido (@davido) May 30, 2024
Those who joined the space with me and @blknoiz06 got to witness me creating my @phantom wallet and receive $100 via the @solana network in a matter of seconds!
— Davido (@davido) May 30, 2024
Recall, On May 30, 2024, Davido launched his meme coin in partnership with Phantom and Solana, adding another surprising move to his repertoire. The coin initially gained significant popularity, soaring to 14 times its initial value as early investors took large profits. However, like many meme coins, the $Davido coin soon dipped dramatically, dropping to less than $0.001579—a 90% decrease in its valuation.
Nigerians on social media have reacted strongly to the coin’s performance, with some observers labeling it a quick cash grab. Before launching his own cryptocurrency, Davido had promoted other coins, $RAPDOGE and $ECHOKE, both of which also tanked in value.