Timeless

<a href="https://bitcoinworld.co.in/davidos-new-crypto-token-davido-lost-93-after-launch/" title="Davido’s New Crypto Token, $DAVIDO, Lost 93% After Launch" rel="nofollow"></a>
Nigeria’s Afrobeat superstar, David&nbsp; Adeleke (Davido), on Wednesday, announced the launch of a crypto token or meme coin inspired by himself – “Timeless Davido” ($DAVIDO). 
Timeless Davido ($DAVIDO) is the latest addition to the new wave of celebrity-themed meme coins making the news in the crypto industry at the moment. 
Davido <a href="https://twitter.com/davido/status/1795932129697714484">announced</a> the launch of the $Davido token on his X handle on Wednesday and the tweet was acknowledged by the official Solana handle. 
This resulted in a frenzy in the Nigerian X space and a surge in the market capitalization of the token hours after its launch. 
Although the rave around the token has cooled off just a day after its launch, here are five important things to note about the $Davido token. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 The King of SOL is here ! <a href="https://twitter.com/search?q=%24DAVIDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAVIDO</a> <a href="https://t.co/dUaq0tQsOR">https://t.co/dUaq0tQsOR</a> 
 — Davido (@davido) <a href="https://twitter.com/davido/status/1795932129697714484?ref_src=twsrc%5Etfw">May 29, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-launched-on-solana-blockchain-span">Launched on Solana blockchain&nbsp;</h3> 
The $Davido token was launched on the Solana blockchain and it was created on Wednesday using the popular Platform Pump Fun which allows crypto users to create a token in a matter of minutes. 
Crypto research tool, Lookonchain, reported that Davido received 7.5 SOL worth $1,275 as startup capital which he used to create the $Davido token. 
The Solana blockchain is known for processing over 65,000 transactions in a second and has low fees. 1 Sol is currently worth N238,769 
<h3 id="span-style-font-weight-400-profit-of-473-000-in-11-hours-span">Profit of $473,000 in 11 hours&nbsp;</h3> 
After creating his $Davido token with his 7.5 SOL initial capital, Davido spent 7 SOL to buy 203 million $Davido tokens which made up about 20.3% of the total supply. 
He sold 121.88 million $Davido tokens, making a profit of over $473,000 in just 11 hours. He still has an unrealized profit of $207,000. 
<img fetchpriority="high" decoding="async" class="wp-image-73493 aligncenter" src="https://bitcoinworld.co.in/wp-content/uploads/davido-430x300.png" alt="" width="559" height="390" srcset="https://bitcoinworld.co.in/wp-content/uploads/davido-430x300.png 430w, https://bitcoinworld.co.in/wp-content/uploads/davido.png 603w" sizes="(max-width: 559px) 100vw, 559px"> 
<h3 id="span-style-font-weight-400-davido-token-value-has-plunged-by-93-span">$Davido Token Value Has Plunged By 93%&nbsp;</h3> 
Despite the excitement and the rave created online by the launch of the $Davido tokens, the party was short-lived as the meme coin lost over 93% of its value by the next day. 
The token is currently down by 93% from its highest point on Wednesday. 
According to data from CoinMarketCap, the coin is currently trading at $0.000010 just a day after its launch. The coin also has a current liquidity of $291,000. 
<h3 id="span-style-font-weight-400-not-davido-s-first-crypto-project-span">Not Davido’s First Crypto Project&nbsp;</h3> 
$Davido token launch is not the first time the Afrobeat superstar has gotten involved in the wild world of cryptocurrencies. 
It was reported that the superstar previously launched $echoke on the Binance Smart Chain to provide a host of services, including non-fungible tokens, entertainment, media, and hospitality. The project was short-lived and was long forgotten. 
He also <a href="https://youtu.be/kmu757cxw_M">promoted</a> Racksterli, a Ponzi <a href="https://bitcoinworld.co.in/us-doj-busts-botnet-boss-yune-wang-for-orchestrating-130m-cyberscam/">scheme</a> that allegedly defrauded users of ₦1 billion, on YouTube, prompting backlash and arguments for a more responsible use of his star power.&nbsp; 
The journey for the newly launched $Davido token remains uncertain for long-term holders of the token given the unsavory news of the coin losing 93% of its value the next day. 
<h3 id="span-style-font-weight-400-what-to-know-span">What To Know</h3> 
The $Davido meme coin is the latest addition to the recent wave of celebrity-themed tokens in the crypto industry. It remains uncertain the long-term trajectory of the $Davido token and whether it would be able to increase its valuation allowing its long-term holders to profit from it. 
Memecoins are increasingly becoming a very important part of the crypto industry with an overall market cap of about $66 billion. 
Nairametrics earlier reported the top five promising memecoins of 2024 who are currently increasing in valuation and pulling a bullish trend in the crypto market. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
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Davido’s New Crypto Token, $DAVIDO, Lost 93% After Launch

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