Famous Nigerian musician Davido issued a cryptocurrency named “DAVIDO” and earned half a million dollars in a few hours.
While the DAVIDO token and the fact that the Nigerian singer, known as a fraudster, made a large amount of profit in a short time made a big impact in the market, Solana's official X account published a welcome message to the Nigerian fraudster singer Davido.
While Solana's post also caused a reaction from crypto investors, ZachXBT also pointed out that Davido had supported some pyramid schemes in the past.
Solana-based memecoin DAVIDO experienced a huge rise and fall in a short time.
While DAVIDO was launched with pump and dump, Davido spent 7 SOL to purchase 20.3% of the total supply.
After the big rise, he sold some DAVIDOs for a profit of SOL 2,791 ($474.4 million).
Davido still holds 43.25 million DAVIDO tokens, making Davido the largest individual holding address, accounting for 4.32% of the total supply.
DAVIDO continues to trade at $0.00000965 at the time of writing.
*This is not investment advice.