Wizkid Sends Cryptic Message as Davido’s Cryptocurrency Tanks
Nigerian singer Ayodeji Ibrahim Balogun, known as Wizkid, has seemingly taunted fellow musician David Adeleke, also known as Davido, following the significant deflation of Davido’s newly launched cryptocurrency coin, $Davido.
The cryptocurrency, launched in partnership with Phantom and Solana, initially saw its market value surge past $10 and ranked number one on the DEX screener as of Wednesday night. However, in a dramatic turn of events, over 80% of that value has been wiped out, with the coin’s market capitalization dropping to $2.1 million amidst a massive selloff by Davido’s social media followers.
According to Dailycoin, a crypto data outlet, Davido himself extracted a substantial sum of $474,000 from the token before distancing himself from it. This action has led to prominent voices in the cryptocurrency community labeling $Davido as a “Crypto Scam.”
Justin Gallum, a cryptocurrency analyst, was outspoken about his view that Davido should face legal consequences. “If you bought the $DAVIDO meme coin expecting to cash out profits, I’m here to tell you that you were outright scammed by Davido himself. This is textbook behavior for a crypto rug pull scam,” stated Rume, an analyst on Channel TV and other media platforms.
Adding to the controversy, Wizkid took to his X handle to post a cryptic message, “Work smart make you no go dey hustle like fool,” which many interpret as a jab at Davido.
While some fans who managed to cash out from $Davido have shared their relief and happiness on social media, others have voiced their financial losses. Davido has yet to officially respond to the “scam” allegations but took to X on Thursday night to thank everyone who joined the $Davido community. “I want to thank everyone that joined the $DAVIDO community last night!” he said.
As of the time of this report, the value of the $Davido coin was still fluctuating.
