Nigerian Afrobeat singer Davido Adeleke is facing heavy criticism from fans after they suffered significant financial losses following their investment in his $DAVIDO meme coins.
The cryptocurrency, which operates on Solana’s blockchain platform, was launched by the singer, but its value plummeted shortly after fans invested heavily.
The sudden crash in value resulted in fans losing a big amount of money, with one investor sharing a screenshot of their account showing a loss of over 86% of their initial investment of $150, leaving them with only $20.
This has led to an outpouring of anger and disappointment on social media platforms, with many fans accusing Davido of fraudulent act and expressing regret for trusting him and investing in the cryptocurrency.
See reactions from Davido’s fans
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 croed. 😭”
Olamide0fficial noted: “Take from the poor to feed the poor. Davido’s math 😂”
thesheddyking penned: “Person say Davido don move from 003 to 419 😭.”
yobrxxzy noted: “Davido as a musician grossed $192k. Davido as an influencer made $473k. Wizkid was right at the end of the day.”
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.”
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.”
