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 earlier.
It should be noted that the singer established a meme cryptocurrency that runs on Solana’s blockchain technology.
However, once the token gained popularity and numerous supporters invested substantially, the musician allegedly cashed out his earnings, causing the price of $Davido coins to plummet.
Sharing a screenshot of the collapse, a fan who had invested over $150 in the coin awoke to only $20 on his account, representing an 86.6667% loss.
Fans have subsequently flocked to the X platform to accuse Davido of fraud, expressing their displeasure for believing him and buying in the cryptocurrency.
Reacting to the post;
Olamide0fficial noted: “Take from the poor to feed the poor. Davido’s math 😂”
thesheddyking penned: “Person say Davido don move from 003 to 419 😭.”
aideinfluence said: “I missed out on the first space. Came online, the PR was good and I thought he had created magic, so I bought the top. 30BG suppose fit run 30M nau. I waited until the midnight space, it was then I knew the mistake I made. The moment he spoke on that space, everyone started selling. I cried.”
yobrxxzy noted: “Davido as a musician grossed $192k. Davido as an influencer made $473k. Wizkid was right at the end of the day.”
FaruqBashar added: “Davido did same thing a lot of big crypto influencers did here to get rich, Gas up a project, then dump on the community. The game is the game, eat or get eaten.”
UnkleAyo stated: “I hope Davido knows that he can go to jail for coordinated scams. SEC currently has filed charges against Jake Paul, Soulja boy, Lil yachty and Lindsay Lohan. He’s also not a “first offender”. He’s not poor. I don’t know why he’s moving like a fool and a fraudster.”
