Crypto Traders Cry As They Record Huge Loss On $Davido Coin

Davido Adeleke, a superstar Afrobeat artist, is facing major backlash after fans lost a considerable amount of their money after investing in $DAVIDO meme coins just 24 hours after it was launched.

Nigerian singer Davido has recently been embroiled in controversy surrounding a meme cryptocurrency he established, which operates on Solana’s blockchain technology. The token, known as $Davido, initially gained significant popularity, attracting numerous supporters and substantial investments.

However, allegations have surfaced that Davido cashed out his earnings once the token’s value soared, leading to a sharp decline in the coin’s price.

A notable instance highlighting the impact of this crash involved a fan who shared a screenshot revealing a drastic loss.

The fan had invested over $150 in $Davido coins but found their investment plummeted to just $20, translating to an 86.6667% loss.

Following this incident, many disgruntled fans took to the social media platform X (formerly known as Twitter) to voice their accusations of fraud against Davido.

They expressed their frustration and regret for trusting the musician and investing in the cryptocurrency, feeling misled by his promotion of the token.