Davido’s coin crashes over 90% in value days after launch

Nigerian music sensation David Adeleke, widely known as Davido, has entered the cryptocurrency space with the launch of his meme coin, $Davido.

Announced on May 29, 2024, the coin is currently valued at $0.007783 USD and has rapidly gained traction, achieving the number one spot on DEX screener.

Davido has collaborated with notable blockchain platforms Phantom and Solana to realize his project.

Since its debut, $Davido has been on an upward trajectory, drawing significant interest from fans and investors alike.

Taking to his verified X handle (formerly Twitter), Davido expressed his excitement: “It’s just ME! #1 on DexTools.”

Following Solana’s official welcome, Davido declared: “The King of SOL is here! $DAVIDO.”

The coin’s performance is being closely watched, with many anticipating its future in the competitive cryptocurrency market.

Nigerians, both domestically and abroad, now have the opportunity to earn in US Dollars, potentially making as much as $17,000 (25 million naira).

However, his meme coin has faced significant criticism from Nigerians after its value plummeted just a day after its release.

The Pump.fun platform, the coin quickly garnered attention but saw a steep decline of over 93 per cent in its value, trading at $0.000010.