Nigerian singer Davido’s new meme coin, $DAVIDO, launched on Wednesday with much fanfare but has seen its value plummet by over 93% in just one day. The coin launched on the Pump.fun platform is currently trading at a fraction of a cent, causing frustration among fans and investors who believed Davido’s endorsements.

Social media is flooded with comments expressing disappointment and accusations of being misled. Many fans invested their hard-earned money based on Davido’s promotion, only to see it vanish overnight. The swift decline has also raised questions about the legitimacy of the project.

This comes despite Davido partnering with reputable blockchain platforms to launch the coin. The future of $DAVIDO remains uncertain, with many questioning its long-term viability.