Davido launches a new crypto token

[Charles-Tim]

The laws are meant for the poor if not how is he still working freely after the scam he pulled.

This is the work of the SEC but they are not crypto literate enough. Nothing is gotten correctly in this country. Instead to look for ways to move forward, to change the national anthem to the old one formed by the British before independent is what they could offer. Almost all the government decisions are just wrong, like the new SEC governor.

[Promocodeudo]

We are in a lawless country. This is a pure scam. Although, we knew it would be. What is the work of the SEC? I knew this new SEC governor will be like the old SEC governor that did not know much about cryptocurrencies as well, as he hailed Kucoin for removing naira P2P. If I am the SEC chairman or governor or whatever it is called, the government will be in lawsuit against davido and huge amount of fine would be demanded from him which might be up to $1 billion.

The lawsuit and fine are not because he created a token but because it is a pump and dump project. He made over $670000 from the token and sold $470000 which was what actually crashed the price of the token. It would have been wise of him not to sell at first at all. This is how a shit project looks like.

This is not his first crypto scam, remember he also promoted a scam meme token Rapdoge in 2021, pumped it up and few hours later the token was dead. Next he launched the $ECHOKE token, made some cash from presale and the token was never launched. I'm surprised so many people do not know he's history of fraud activities. He's not making enough money from his music and he needs money to stay relevant by scamming his followers.

The laws are meant for the poor if not how is he still working freely after the scam he pulled.

Many people know this thing already, but the problem with most Nigerians is that they can do anything as far as they fan or follow a particular celebrity, it is too bad that someone like davido will be doing this kind of bullshit at this time that hardship is bombarding Nigerians, the major problem is that the government themselves may not do anything about this even when the understand that this is fraud in action because the person involved being davido is covered based his family background and they so called connections he and his family has, this kind of stuff can not happen openly in the civilized nations, once they findout that they motive for the creation of this coin was to scam people of their money, the owner and the developers are going in for it, there is know two ways about it but in this country it will be mispriotized, the government will start chasing shadows instead of investigating and fighting it from the right direction.

[Igebotz]

The laws are meant for the poor if not how is he still working freely after the scam he pulled.

This is the work of the SEC but they are not crypto literate enough. Nothing is gotten correctly in this country. Instead to look for ways to move forward, to change the national anthem to the old one formed by the British before independent is what they could offer. Almost all the government decisions are just wrong, like the new SEC governor.

The truth is that the SEC, CBN, and EFCC enjoy news like this because it reinforces their work, which they have been fighting for years: bitcoin is not safe, and it is created out of thin air. Davido created a token out of thin air, with no team, developers, tokenization, road map, or exchange listing.

NairaEX has been crashed since last month, preventing clients from accessing their money, social media, or the support team, leaving them with no method to contact them, and don't forget the Patricia fraud from last year. With all of the local rugpull going on, our chances of getting a licenced locally adopted exchange for the p2p marketplace are slim. I expected NairaEx to be Nigeria's next major exchange in a few years. Now I'm disappointed

[Marykeller]

Like this nah, Davido don dent em image and reputation for the country. This is the second time, Davido has scammed well-meaning Nigeria for no just cause. The first time he scammed Nigeria was in November 2021, with the name coin "$Echoke''. He got it market at then, and it later collapsed. Nobody as of then raises alarm over it or took Davido to court to explain and defend himself why he created a shitcoin. Since nothing of such happened, he went ahead to create another scammed coin, believing he's going to leave without harm, guilty, or charged to court because he had the fame and connection to beat any accusations that would be brought before him by the government and crypto believers.

That not being said, I think we Nigerians forget things easily and we d lose guard ourselves when investment matter pumps up by failing to research or invest with little money that we can lose without regret if we later get scammed. Had it been Nigeria's never invested or invested with the little, leaving to invest because Davido owes the coin.

As this don happen, it's an eye-opener for Nigeria that crypto no be about fame or investment done because of sae na celebs or bishop of my church get am, na why peso need to trust and invest on am be that, while in the real case, it is not to be so. There are things to consider before one takes an investment approach.

[Richbased]

Like this nah, Davido don dent em image and reputation for the country. This is the second time, Davido has scammed well-meaning Nigeria for no just cause.

Snip~

Na for people wey dey like follow anything wey celebrities dey do na, as I no dey follow celebrities e get any time wen dem go fit scam me? One thing you go know be say no body care about reputation for dis country again because of wetin dem dey gain and tomorrow now dem go begin talk rubbish say dem hack his account.

Wetin dey baffle me be say upon the whole money wey most of this celebrities dem get yet dem still dey allow themselves to be used for scams like dis so imagine a situation whereby you be yin fan and you come fall victim to dis kind tin you go still continue to dey listen to his musics or subscribe to his channels. For God's sake dis guy was born with silver spoon and on a norm everywhere sure for am wetin him come go dey stain himself for shit project like dis now. Considering the fact say this kind scam been don happen before now him come still carry dis one come no be to kill his career kpatakpata be dat?

[DaNNy001]

I read on Punch that it has dumped 90% already. It is better you avoid this token.

It is nothing new more than Davido and the developers behind this will make money from people. The price will then fall and people will complain.

This is a pump and dump project, it's a scam project. I deleted the first thread and you created it again. I'm locking this thread. Stay away from it.

I am seeing it all over the news, even I saw it on a an article on Binance. Be it scam project or not, it is better to leave it without deleting it. Make it obvious it is a pump and dump project is better than deleting what can be educative for people to avoid it.

Yeah I suppose you are right, some information here can be very helpful especially with cases like this that the whole society can be mislead into thinking that this particular shit ass project is worth putting into , the worse part of this project is that because of his famous and over popularity as a musical and social media star a lot of people would be moved already to get their selfs involved in buying the coins especially people with low level mentality about cryptocurrency and Bitcoin at a large.

[AVE5]

This is a pump and dump project, it's a scam project. I deleted the first thread and you created it again. I'm locking this thread. Stay away from it.

Edit. Unlocked

Very true a pump and a dumping project. You can imagine The token's market capitalisation increased to $10 million, but it also rapidly decreased to $2.2 million, according to TechPoint analysis
The fast skyrocket increase and the quickly depreciation already entails that that was a one of the projects that's built on defraudlent potential values to the developer that definitely ones attains that significant selfish Interest the coin would be a dump.
Let's not be too conducive to embrace the project as to be compassionate of patronize our own home made because it's not differed from the dead and dumping Memcoins that has been a no go area for investors which we've also be discussing in the forum.

Just like as @CryptopreneurBrainboss has pointed, it could be an added avenue where the government would hold upon to the already falseful speculations that cryptocurrencies are scam.
Considering the political influence, that alone could lead a beefing to the crash of the coin where the opposition parties would oppose or conspire against the crash of the coin, hence the developers interests alone is fearful already.

[Zanab247]

I believe we have seen some new tokens like this in the market, people thought it will not going to help people to make profits and it turn to a popular token in the market that is bringing profits to people.

Is it because the owner of the token is from Nigeria, there are some Nigeria tokens in the crypto industry and they are doing well but you will not know that the owner is from Nigeria, because they know what will happen to them , if people find out the owners of the token is from Nigeria and even Nigeria government will not take it easy with the owner.

I guess I will use little money to invest in this crypto token, to see if it will going to favor me because everything about cryptocurrency is try your luck  and see before you can encourage other people to invest.

[teamsherry]

For a project to successful it needs more than just good publicity, it requires intelligence and a good understanding behind it, what i see here is a big ponzi scheme that would take many Nigerians unaware because of big promotion, davido is influenced but that doesn't mean he has the best interest of the public at mind, well if you ask me I would advice keep of from unknown creations 

[SmartCharpa]

I believe we have seen some new tokens like this in the market, people thought it will not going to help people to make profits and it turn to a popular token in the market that is bringing profits to people.

Is it because the owner of the token is from Nigeria, there are some Nigeria tokens in the crypto industry and they are doing well but you will not know that the owner is from Nigeria, because they know what will happen to them , if people find out the owners of the token is from Nigeria and even Nigeria government will not take it easy with the owner.

I guess I will use little money to invest in this crypto token, to see if it will going to favor me because everything about cryptocurrency is try your luck  and see before you can encourage other people to invest.

You're right, everything about cryptocurrency is by lucky but joke apart me I know fit use my money invest in this new coin wey davido launched, I just dey pity people wey go use their money invest in this coin. The investment fit favor some people wey invest for the first time, but to be honest me I no trust this project at all. Davido launched coin? E just dey surprised me because people no understand say Davido na real hustler, na the way him go make more money him dey find. If na project wey go end well I believe say him no go sell am some hours after the launched. Davido wan rip his fans, if this project end up scam, OBO music go dey up again because na many of his fans go invest.

You don already explain am now, many people dey wey launched their coin for this same naija but we no fit know base on say we no like to dey fall for anybody trap. Those people know say immediately we find out say na person from naija owns the coin they no go invest again. We are all the same for this country our greediness too much, rich man go still dey find way to make more money, we no con dey pity each again. Those who invest good luck.

[Stable090]

Davido don get this plan for ground for long now. Him don probably get small idea about how influential this crpto stuff be and I guess Na one of the things why him been dey consider stop music. It's really a great idea.

Great idea promoting scam projects? I don’t think that makes any sense to me. If you want to stop music for other things, then you should go for something reasonable and not something that people will end up losing their money for. Davido should just be ashamed of himself, because most of the people that are going to fall victim are the people that call themselves his fans, some of them don’t even care to check the project, as long as Davido tweets about it, then they are investing their money in it, they call themselves die hard fans.
 
I think it’s just high time we stop following all these celebrities and influencers blindly, most of them just care about themselves, and they don’t care if their followers are going to lose or not, as long as they will be making their money. Davido will have made his money already, and his fans will be the ones crying because they will be the ones who lose.

[Mate2237]

Na meme na. So volatility go dey. I da use one eye look am sha lol.

I never rank am go memecoin but na airdrop or shitcoin. And those people we invest on it na because of shey na Davido get the project and them thick shey the project go do well because Davido get money so him go pump di project to the moon for them to get profit but him don show dem the opposite way. And for those wey get Sense go use dis one learn. And to know shey life no be to follow rich man because the rich man too e get weti him dey pursue to get so himself dey find money to get am. And now dat him don scam dem, dem go learn their hard lesson.

Oga me, di project wey don crash nai you dey here dey eye. Nawao. Abeg no eye na scam project be dat. And I hear shey Davido still dey invest oh.

[DaNNy001]

Na meme na. So volatility go dey. I da use one eye look am sha lol.

I never rank am go memecoin but na airdrop or shitcoin. And those people we invest on it na because of shey na Davido get the project and them thick shey the project go do well because Davido get money so him go pump di project to the moon for them to get profit but him don show dem the opposite way. And for those wey get Sense go use dis one learn. And to know shey life no be to follow rich man because the rich man too e get weti him dey pursue to get so himself dey find money to get am. And now dat him don scam dem, dem go learn their hard lesson.

Oga me, di project wey don crash nai you dey here dey eye. Nawao. Abeg no eye na scam project be dat. And I hear shey Davido still dey invest oh.

My brother you would be shocked on how many big celebrity for naija wey dey invest their money for crypto and some of them wey I know well well na this two female artists @ tems and ayarr star, they have been rumours that these two artist dey actually put their funds for crypto too especially Bitcoin.

For the aspect of davido failed project, Omo this just shows and also clear the notion of the particular thought of why people need to actually try to get or do some research before they jump into the rush of actually investing of any new project especially not the one wey one big celebrity prescribe for them.