Davido Sends Message to Fans Amid His Crashed Crypto Coin: “Thanks for Joining My Community”
- Nigerian singer Davido reacted to the pandemonium he stirred in the Cryptocurrency market recently
- It was reported that on Wednesday, May 29, the former DMW boss launched a meme coin, which runs on the Solana blockchain
- However, a few hours after that, the market value of his coin depreciated, leading to several calls outs, which he has addressed
- Legit.ng reached out to a Nigerian crypto expert to give an analysis of what possibly went wrong with $DAVIDO and things the singer can do about it
Nigerian singer David Adeleke, aka Davido, has appreciated his fans and supporters despite the negative reactions to his dipped crypto coin, $DAVIDO.
The internet currency was released on Wednesday, May 29, 2024, causing excitement among his admirers and enthusiasts.
Source: Instagram
To achieve his project, Davido collaborated with leading blockchain platforms Phantom and Solana.
Initially, $DAVIDO soared, reaching a market value of $10 million in four hours and gaining traction on DEX Screener.
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However, the elation was short-lived, as the coin's value fell the following day, Thursday, May 30.
Davido appreciates fans
Hours after he was called out by a large number of aggrieved netizens, the former DMW boss thanked everyone who joined the $DAVIDO community early enough.
He further claimed that some selected persons were lucky to receive $100 via the Solana platform.
"Those who joined the space with me and @blknoiz06 got to witness me creating my @phantom wallet and receive $100 via the @solana network in a matter of seconds!"
See his tweets below:
Davido's coin dipped because it lacks utilites, and we can't call it a scam yet - Crypto expert
In an exclusive chat with a Nigerian crypto expert, he pointed out why Davido's newly launched coin crashed in market value.
He claimed that $DAVIDO still holds potential if strategic steps are taken and suggested possible solutions the Grammy-nominated artist should seek to build value and trust with his digital project.
In his words:
"Davido's token is falling because he lacks community and utility. You can't just rule it out as a total scam, except Davio decides he will not talk about the project again. Then, it can now be ruled out as a scam.Then, it can be assumed that he has launched a project and just abandoned it. The project has a lot of potential to scale up more than it is doing now because it can tie his coin to many of his activities, like virtual concerts where people buy tickets using the token.
"The project is not dead yet; it still has potential. He should consult other crypto experts and try to create a stable community and utilities for different groups of people so that values can be attached to it.
They might be doing some other work underground.I noticed online that some experts have DMed Davido to help him create utilities for his token. "
Davido sparks reactions online
Legit.ng compiled the reactions to Davido's statement below:
@Ogo4200:
"After you don carry our money run."
@iamhbozz:
"Thank you too cos you earned me millions."
@b_pastor1:
"001 your coin turned out to be a scam .Nigerians are not happy with you."
@W0LF0FCRYPT0:
"You were dumping while on the space bruv."
@JuliusElum:
"We can still make this project great David, All you n ed is responsible team and a good advisory board. Your influence is global and relating your influence to just a pump and dump crypto project isn't great. My DM is open for a talk."
@KinqKudos:
"Davido has destroyed the little legacy left in him last night. His brand has been completely ruined and shattered. What a pity."
@osere_x:
"So your 30billion for account don finish , you come start ponzi."
@EmaazDr:
"AGAIN, THEY SAY YOU ARE A FRAUD. I DUNNO IF YOU HEARD."
@bigHotbaby1:
"Enjoy yourself 001 you didn’t force anybody…. Don’t stress it."
Orphanages appreciate Davido
In a recently released letter, the Coalition of Orphanages and Children's Homes in Nigeria (COCHIN) appreciated Afrobeats star David Adeleke 'Davido' over his generous donation to the body.
In February 2024, Davido made headlines after announcing a whopping N300 million donation to orphanages nationwide. COCHIN confirmed being a beneficiary of the singer's benevolent act.
According to the body, 42 of the coalition's 52 members benefited from the donation. The coalition stressed that no Nigerian, including the government, had shown such support before.
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Source: Legit.ng
