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Davido’s $DAVIDO Token Crashes 93% After Launch

Boom RadioNG | May 30, 2024

Nigerian superstar Davido’s foray into the crypto world with his $DAVIDO token proved short-lived, as the meme coin suffered a dramatic 93% value drop within a day of launch.

Initial Hype and Quick Profit

Launched on the Solana blockchain, the $DAVIDO token initially generated excitement, with Davido reportedly making a quick profit of over $473,000 within 11 hours. However, the hype quickly faded.

Steep Decline and Uncertain Future

The token’s value plummeted by 93%, currently trading at a mere $0.000010. This raises concerns about the long-term viability of the project, especially for investors who bought in at the peak.

Not Davido’s First Crypto Venture

This isn’t Davido’s first crypto venture, having previously promoted $echoke and Racksterli, which faced criticism and accusations of being a Ponzi scheme.

Davido Performing

Meme Coins: A Risky Investment

While meme coins have gained popularity, they are highly speculative and prone to volatile price swings. Investors should exercise caution and conduct thorough research before investing in such projects.

Written by Boom RadioNG

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