Nigerian singer Davido's meme coin launch turns disastrous as Nigerians suffer losses, prompting social media backlash over his risky endorsements.
Popular Nigerian singer, Davido, shook the cryptocurrency market with the launch of his meme coin, $Davido, on May 29, 2024. Initially priced at USD 0.007783, it gained traction swiftly, attracting investments.
However, the coin's value plummeted, leaving investors enraged. Social media exploded with criticism, accusing Davido of endorsing risky ventures without due diligence. Many lamented significant losses, recalling past incidents like Racksterli.
Nigerians condemned Davido's involvement in volatile investments, citing his responsibility as a public figure.
