Davido launches coin, $Davido, amid other crypto trends

30BG Boss, David Adeleke, popularly known as Davido launched a meme coin called $Davido on Wednesday, May 29.

The coin was created using the popular crypto platform known as http://Pump.fun.

Davido launched the coin via his X handle on Wednesday accompanied by a tagline: “The pump stops when time stops.”

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Davido teamed up with leading blockchain platforms Phantom and Solana to realise his vision as the $Davido meme coin garners attention, captivating both fans and investors.

However, the worth of $Davido, the new crypto token by the musician crashed, a day after launch.

Data by CoinMarketCap shows that the token was trading at $0.000010 on Thursday morning, down by over 93% from its highest point on Wednesday when it was launched.

Meme coins are digital tokens inspired by internet memes. The pioneering cryptocurrency in this genre is Dogecoin (DOGE), which gained considerable attention upon its launch in 2013. Dogecoin remains one of the top 10 largest cryptocurrencies currently, boasting a market capitalization of just over $8 billion.

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