Davido launches a new crypto token

[Marvelockg]

Davido is making wave after he laughed a new meme coin that's known as $davido. The meme coin which operates on the Solana blockchain was launched on Wednesday, may 29th and Barley hours after launch, $DAVIDO has already reached the top spot on DEX Screener, gaining major attention from Davido’s fanbase in Nigeria.

We all know how influential davido is and his relationship with the PDP and the governor who is a key stakeholder in our nation and seeing him making such a positive move in the Nigerian crypto adoption, it's certainly a bullish development for all crypto enthusiast in Nigeria.

Let's share our take on this development.


Source: https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.legit.ng/entertainment/celebrities/1594860-davido-launches-meme-coin-davido-tapswap-crypto-waves-nigerians-react/&ved=2ahUKEwiki5iBh7WGAxXyU0EAHbcMDxgQFnoECB0QAQ&usg=AOvVaw1uC1vxPF9rOigpXXc0OzGh

[Igebotz]

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

[CryptopreneurBrainboss]

We all know how influential davido is and his relationship with the PDP and the governor who is a key stakeholder in our nation and seeing him making such a positive move in the Nigerian crypto adoption, it's certainly a bullish development for all crypto enthusiast in Nigeria.

No it's not bullish, if you reason am well e fit be more reason wey go make the government to not allow cryptocurrency for the country because dem go dey consider am as an avenue for people to scam people. You dun go see wetin people dey cry wey buy the coin, only the first set of people profited and davido too dun sell to cashout. I sure say na the money wey him wan go use clear him private key wey him buy. Why him go launch a token wey no get utility, if to say him say fans fit dey use the token to buy him music or concept tickets then e for get small value and reason to hodl but this one him just launch e own memecoins come dey expect am to do well without adding anything positive to Nigerians.

Within dey pain me pass na say him come still sell some tokens after just few jours of launching, wetin dat one they tell you be say him no carry the project for mind. Either him just wan cashout or him no know anything about the coin but must have been convinced that it'll make sense for him to launch a token amd he bought into the Idea and started promoting it because i no see any benefit of his project to am or Nigerians. Memecoins are for pumps and dumps and those aren't what we should be pushing forward as what crypto is about or we'll be pushing the wrong message to the outside world and those joining the industry. This one no follow so make we stay away from am abeg.

[Charles-Tim]

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.

[nelson4lov]

So the current meta right now is that celebrities are launching their own shitcoins with the primary purpose of just hyping up the token prior to launch, pump it once live and then dumped on poor plebs that buy the top. For Davido, Solana official handle tweeted that they've welcomed him to their ecosystem and some of their ecosystem projects like Phantom wallet and Drip tweeted at Davido to which he did a quote reply. Someone did some on chain sleuthing and discovered that he received around 7 sol which he initially used to buy and own 20% supply at launch. Went on to dump.

It's a very disappointing meta, really. First we had the presale meta that failed and now celebrities just dumping wildly on their fans/followers.

[Stepstowealth]

Let's share our take on this development.

Where is the position of the security exchange commission on this, can he not get arrested for this kind of acts because he is a celebrity and he has obviously used his position to exploit his supporters and fans into buying a project that is a scam?
If there's really no punishment for this many other celebrities will be encouraged to try their own too, knowing that they can get away with it as well and make money from it too.

[Y3shot]

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

Deleting thread like this is not the best, some people may not know if token like this  is not a good one and they may show interest to get the token because it is own by their favourite artist.  I think it will be better for thread not to be deleted so that people can learn and see reasons why they shouldn't invest in project like this.

[Davidvictorson]

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

Deleting thread like this is not the best, some people may not know if token like this  is not a good one and they may show interest to get the token because it is own by their favourite artist.  I think it will be better for thread not to be deleted so that people can learn and see reasons why they shouldn't invest in project like this.

The thread should not be deleted unless the OP is encouraging novice to invest in the coin through misinformation.

This is not the first time Davido or whoever is running the shitshow in his name has created this kind of shitcoins. He should be ashamed of himself. A man that has no principle will fall for anything.

Note to other people who think that they can cash out from this or other similar schemes - it is never going to work in your favour. The system has been designed to only favour the creator, their family and friends. No you cannot bypass it. It is how the shitcoins schemes work.

[Barikui1]

Davido is making wave after he laughed a new meme coin that's known as $davido. The meme coin which operates on the Solana blockchain was launched on Wednesday, may 29th and Barley hours after launch, $DAVIDO has already reached the top spot on DEX Screener, gaining major attention from Davido’s fanbase in Nigeria.

We all know how influential davido is and his relationship with the PDP and the governor who is a key stakeholder in our nation and seeing him making such a positive move in the Nigerian crypto adoption, it's certainly a bullish development for all crypto enthusiast in Nigeria.

Let's share our take on this development.


Source: https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.legit.ng/entertainment/celebrities/1594860-davido-launches-meme-coin-davido-tapswap-crypto-waves-nigerians-react/&ved=2ahUKEwiki5iBh7WGAxXyU0EAHbcMDxgQFnoECB0QAQ&usg=AOvVaw1uC1vxPF9rOigpXXc0OzGh

It's very sad and regrettable that someone like davido that is an inspiration to most upcoming artist will get involved with this shit show of a project, because I believe that this project is just measures put in place to milk investors of their hard earned money, which is very bad, I am not a fan of alt or shit coin because I sees them all as mostly unreliable, but this sudden lunching by davido and his team entails the obvious that it's a scam project, so I would advice all investors to stay off from it, because it's just a scam project.

Concerning the deleting of this post, I support the idea of oga Charles tin, let it not be deleted, let people learn from it,  so that they will know that, not everything anyone put out in the market are real,  they are mostly scam, so let's think and act wisely.

[Cryptomultiplier]

My take on the new launched $davido coin is simple. Crypto currency will thrive in this country whether the government likes it or not and this bold move is a big support to every cryptocurrencies investor and that is a big go ahead for every potential investor to delve right into the crypto space not fearing the news about Binance or kraken or Okx not pairing the Naira with USDT or with BTC.

Am sure this is a signal to others to come up with their own initiatives that will spur on and encourage the move for crypto currency adoption and acceptance for payments after transaction, payments of taxes and services too.

[Marvelockg]

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

I was having network issues at the time I made this post and and never knew it was deleted in the first place as it was still appearing as though I had not posted it earlier. But that being said, the reason why I shared it here is that I saw a lot of people on the social media space applauding davido for making such move and to enable me get clarity on the whole matter, I felt it's best I share it here since the impute from this forum will come from individuals that knows the feasibility of getting involved in a token as this.

We all know how influential davido is and his relationship with the PDP and the governor who is a key stakeholder in our nation and seeing him making such a positive move in the Nigerian crypto adoption, it's certainly a bullish development for all crypto enthusiast in Nigeria.

No it's not bullish, if you reason am well e fit be more reason wey go make the government to not allow cryptocurrency for the country because dem go dey consider am as an avenue for people to scam people. You dun go see wetin people dey cry wey buy the coin, only the first set of people profited and davido too dun sell to cashout. I sure say na the money wey him wan go use clear him private key wey him buy. Why him go launch a token wey no get utility, if to say him say fans fit dey use the token to buy him music or concept tickets then e for get small value and reason to hodl but this one him just launch e own memecoins come dey expect am to do well without adding anything positive to Nigerians.

yeah! I saw a post on nairametrics Facebook page that the token lost 95% after launch which I feel will be a solid reason the FG can lay hold on to tighten up there measures against the crypto sector. I wasn't initially looking at the effect any negative outcome of the project will have on the Nigerian crypto space and with a dump that has happened this fast, it's true that this is surely not a bullish development.

Within dey pain me pass na say him come still sell some tokens after just few jours of launching, wetin dat one they tell you be say him no carry the project for mind. Either him just wan cashout or him no know anything about the coin but must have been convinced that it'll make sense for him to launch a token amd he bought into the Idea and started promoting it because i no see any benefit of his project to am or Nigerians.

you know that most of this our top celebrities sometimes behaves like politicians and can do anything to get the attention of the public. It's possible that this move isn't even about the money that he intends getting from the project but might just be looking for ways to gain more firm.

I read in an article that davido is the first celebrity that has a token that's coined after his name $davido and you know that that's just what they like.

The big question is that, since we're not allowed to even carry out a crypto transactions on most of the exchange and even on our mobile banking apps, what happens now that we have someone that's openly involved in crypto? Will his account be blocked or face a possible sanction or questioning from the EFCC or our authority?

[Igebotz]

Within dey pain me pass na say him come still sell some tokens after just few jours of launching, wetin dat one they tell you be say him no carry the project for mind.

He just created the Twitter community for the scam token after being dragged on Twitter and stating that he wants to learn how to lock tokens. I mean, how do you go into crypto and launch without knowing the basics? He paid for PR, got all the hype from Phantom and Solana Blockchain, and dumped the token halfway through, just like other celebrities' tokens in the past. He knew what he was doing, and anyone who still believes the second round hype is doing so at their own risk. He's only attempting to pump it again so he can eventually grab his remaining token.

Am sure this is a signal to others to come up with their own initiatives that will spur on and encourage the move for crypto currency adoption and acceptance for payments after transaction, payments of taxes and services too.

He has already instilled a negative mindset of distrust in locally launched tokens and instilled dread in those who bought in crypto for the first time, seeing their hard-earned money liquidate in a matter of hours. He has also paved the road for other celebrities to use their fans' support to create a token and dump it on them for quick profit. Davido does not appear to be as wealthy as he claims; I believe he lives beyond his financial means.

The big question is that, since we're not allowed to even carry out a crypto transactions on most of the exchange and even on our mobile banking apps, what happens now that we have someone that's openly involved in crypto? Will his account be blocked or face a possible sanction or questioning from the EFCC or our authority?

Crypto is not prohibited in Nigeria, anyone can create and advertise it as long as you're not dealing with banks directly.

[sotelorene]

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

Deleting thread like this is not the best, some people may not know if token like this  is not a good one and they may show interest to get the token because it is own by their favourite artist.  I think it will be better for thread not to be deleted so that people can learn and see reasons why they shouldn't invest in project like this.

I think you are absolutely right about this your post, just as you take talk am many people fit fall mugu for this kind thing base on say na celeb something and not just celeb one of the biggest in Naija. Just like waiting sir cryptopreneurBrainboss talk, to me if Davido go fit package the thing well e fit make Government change mind for waiting they been wan do concerning digital currency but if en no package the thing well e go give government more reason to execute their plans.

[Fiasem20]

When I saw the news online I just know say this project na pump and dump scheme.Anybody wey put body go see the end result,Davido wan just use Nigerians shine most especially him fans wey no know anything about cryptocurrency.My question be say na everybody suppose be developer?Davido na musician and him dey do well for the  music industry,him don pass this stage to use Nigerians money take shine with him pump and dump scheme.Davido step wey him take on his new crypto token no go move the government to dey friendly on crypto rather e go give them more reasons to go against crypto because many people wey put body don dey cry wetin no nice.

[MainIbem]

I think you are absolutely right about this your post, just as you take talk am many people fit fall mugu for this kind thing base on say na celeb something and not just celeb one of the biggest in Naija. Just like waiting sir cryptopreneurBrainboss talk, to me if Davido go fit package the thing well e fit make Government change mind for waiting they been wan do concerning digital currency but if en no package the thing well e go give government more reason to execute their plans.

Well, it's left for Davido to do the needful, it's not bad for celebrity to have his own token, if you do your findings you go discover say for the football sector many clubs get their own fan tokens, and most of their fans still dey invest in those tokens for example the PSG, Juventus, Inter Milan, Roma, Tottenham and lot of other clubs get their fan token so maybe, OBO seeing the large number of fans em get worldwide decide to invest into Crypto by creating em own fan token. But then if em package well like you talk, if em no make am look legit and not a scam or another pump and dump project wey go make citizens lose their money and begin to rant for the media then em go force the government to further place more ban on Cryptocurrency, normally them dey find more excuse to use prove to us say them dey on the right track, so I believe say if em package  well eh fit change the mindset of ignorant government officials concerning Cryptocurrency. Well, my advise be say make person no go invest for project wey dem know nothing about, all in the name of am a Davido Fan cause normally OBO na very big name and true true plenty people fit fall mugu.

[HajiBagi]

Share waiting? You suppose know that this thing na scam thing na, Davido launch a new coin and make we Dey happy about it? Na waw for we Naija people oh, ah swear anybody that invest on that coin go lose money wey he no go fit explain am, before we should even thinking of buying the coin we should think about it that the government don’t want anything that concern cryptocurrency and person launch coin and we go take risk and invest, my brothers and sisters make we shine our eyes for this kind thing, i never see anybody wey launch coin for this our Naija day the coin later go well oh make we no later come Dey complain for this kind thing, Abi them get anybody wey get full assurance say the thing na legit thing?

[Miles2006]

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

Deleting thread like this is not the best, some people may not know if token like this  is not a good one and they may show interest to get the token because it is own by their favourite artist.  I think it will be better for thread not to be deleted so that people can learn and see reasons why they shouldn't invest in project like this.

I think you are absolutely right about this your post, just as you take talk am many people fit fall mugu for this kind thing base on say na celeb something and not just celeb one of the biggest in Naija. Just like waiting sir cryptopreneurBrainboss talk, to me if Davido go fit package the thing well e fit make Government change mind for waiting they been wan do concerning digital currency but if en no package the thing well e go give government more reason to execute their plans.

IMO, make everybody dey careful even if e concern davido or government crypto no be play play something besides we no want crypto adoption to spread like this because I don dey see negative comments for twitter about the token and e no go funny if people don dey get the wrong view abt crypto. Davido go know say na scam project but go still do wetin dey he mind although no be new something as Ronaldo don advertise many scam project too so I go say this habit common for celeb wella. I no too dey reason naija government and their so called opinion even if davido package this token well as their concern na just to cheat regardless the masses choice.

[Mate2237]

I saw the news today and I was like wow! How did he do that and if Nigerian programmers can do that then we should prepare our mind to see airdrop Ponzi Schemes because na dat area dem dey plenty and make nobody here fo fall for their traps. And according to the news many people invested in the Davido's memecoin token and later the token crashed yet Davido is still investing in the token. And as he is still promoting the token. And I don't think new can have a good cryptocurrency project in the country.

Boss Igebotz should not delete the thread. Even di project is a scam project it is better for use to discuss it here so people will be aware and not to fall for it again.

[Charles-Tim]

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.

[Igebotz]

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.