Nigerian musician Davido recently launched a new cryptocurrency token named $DAVIDO, which experienced a dramatic collapse just a day after its introduction.

According to CoinMarketCap, the token’s value plummeted to $0.000010 by Thursday morning, representing a decline of over 93% from its peak on Wednesday.




The sudden drop in value occurred after on-chain data indicated that Davido was cashing out his holdings. Analysis by Lookonchain revealed that Davido had created the meme coin using the Pump.fun platform. He initiated the project with an investment of 7.5 Solana tokens, equivalent to $1,275, and then developed the $DAVIDO token.

Following the creation of the token, Davido purchased 203 million $DAVIDO tokens and proceeded to sell a portion of them, yielding a profit exceeding $473,000. Despite selling some of his holdings, he still had an unrealized profit of over $207,000.




Davido, known for his successful music career, has amassed a significant following on social media, with over 15 million followers on his X account and nearly 4 million subscribers on his YouTube channel.

His hit song “Fall” has garnered more than 285 million views on YouTube over the past six years. Additionally, his 108 videos on YouTube have collectively been streamed over 1.6 billion times.

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https://crispng.com/davido-launches-davido-meme-crypto-token-heres-what-you-should-know-about-it/

GBAJUE COIN

this should be a crime but sadly, many ignoramus will WILLINGLY buy into this yeye nonsense, and lose their investment....