On May 30, 2024, Davido launched his meme coin through a partnership with Phantom and Solana in what was another surprising move by the superstar.
The meme coin quickly gained popularity after its launch and soared as high as 14 times in value as early investors took huge profits.
However, as with several meme coins, Davido's $Davido coin soon dipped in value dropping to less than $0.001579 which is a 90% dip in its valuation.
Nigerians on social media have reacted to Davido's meme coin with some observers calling it a quick cash grab.
Before launching his crypto coin, Davido was alleged to have previously promoted other coins $RAPDOGE and $ECHOKE both of which tanked in value.
Following Davido's meme coin launch and its subsequent tank in value, Wizkid with whom he recently engaged in a beef with has posted what is considered to be a veiled dig at Davido.
In the post shared on his X account, Wizkid said "Work smart so you no go dey hustle like fool."
The post has generated reactions online as the beef between the two Davido and Wizkid seems to be waxing stronger.