• Davido has ventured into cryptocurrency as he recently launched his meme coin named $DAVIDO
• This comes amid the viral Tapswap and other crypto meme coins making waves in Nigeria
• The newly introduced coin has since been met with different reactions, especially from crypto enthusiasts
• In a chat with Legit.ng, Akinwunmi Joshua, a Crypto trader, shared his opinion on Davido's meme coin

Afrobeats star David Adeleke, aka Davido, has led the way in the music industry, becoming the first Nigerian act with a meme coin in his name.

On Wednesday, May 29, Davido announced the launch of his meme coin named $DAVIDO.

The DMW label owner made the announcement via his X handle as he shared a screenshot showcasing his coin, which operates on Solana’s blockchain platform.

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Recall that while speaking about his family wealth in April, Davido revealed why he ventured into cryptocurrency.

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Barley hours after launch, $DAVIDO has already reached the top spot on DEX Screener, gaining major attention from Davido’s fanbase in Nigeria.

Reactions on social media showed several of the singer's fans have invested in the new meme coin, leading to a rise in the rate as they applauded the singer.

This is coming amid the viral Tapswap and other related cryptocurrency meme coins that have been making waves in Nigeria in the past few weeks.

Reactions trail Davido's meme coin

Legit.ng captured some of the reactions as many expressed doubts about the legality of the singer's new coin. Read some of the comments below:

emmylucre:

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"30bg without Grammy is 30naira."

headboi_1:

"Baba use style drop his cashtag."

gratitude_is_suitable_for_me:

"Been a while bro trend."

iamkellyeazy1:

"Team 30BG, we gallant, No Retreat No Surrender."

theycallmeodp:

"he like to talk too Much Why."

richdahkids:

"We all know our laye na attention seeker but we still love am like that."

megacollins_dseekerman:

"First Africa artist to pull this."

dominicvibez:

"Me and guys will be tapping aggressively."

boy_kimmich007:

"We no go tap this one in vain ❤❤ OBO4lyf $DAVIDO."

Davido's coin looks like a one-man project - Cryptocurrency trader

Akinwunmi Joshua, a cryptocurrency trader, said only Nigerians can push Davido's coin following its crash.

According to Joshua, Davido's coin looks like a one-man project.

"It is a big deal if he decides to sell his concert with the coin," he said.

Davido spent N927 million in a day

Davido, during a recent interview with Zane Lowe, shared how he made roughly $1.1m from his Capital One Arena concert in Washington, DC.

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However, what caught most people's attention from the interview was Davido revealing how he re-invested more than half of his profits back into production.

The Unavailable singer is known for speaking about his finances, among others.

Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.

Source: Legit.ng

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