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Davido Faces Backlash Over Meme Coin Crash Amid Charity Donation Update

Famous singer Davido is facing renewed criticism after an update on his donation to 42 charity homes coincided with his fans’ significant losses from his meme coin, $Davido. The coin saw a dramatic rise shortly after its launch but crashed by over 90% within 24 hours, causing substantial financial losses for his supporters.

In response to the ongoing backlash, Davido shared a letter from the Coalition of Orphanages and Children’s Homes in Nigeria (COCHIN) regarding his February 2024 donation. The letter expressed gratitude and confirmed that 42 out of 52 orphanages under the coalition benefited from the funds.

Despite the positive impact of his charitable contributions, the controversy surrounding the meme coin has overshadowed the singer’s philanthropic efforts, leading to a wave of public outcry.

Reactions as Davido gives charity update amid $Davido coin fraud

Ugochukwu_96 said: “I just pity all those who invested in the rubb!sh coin of yesterday. Many people lost their hard earned money because they are too stubborn 😣. Today you’re giving to the orphanage to receive public praise 😒.Same script all the time. Take from Peter and give Paul. No wahala na😒.”

Yemihazan opined: “My children school fees was invested in $DAVIDO plis… Give us update.”

Irunnia_ penned: “I am surprised that people still fall for this. This is clearly important and how Nigerians have not yet recognized it is funny.”

lidocaine_v2 reacted: “Where is my money? I used my japa funds to invest in $DAVIDO like you advised. Give me my money back.”

SirDavidBent noted: “Man knows the game. An expert at it.
– Rug folks
– Use charity and giveaway to boju.
It’s still a bit of surprise that many educated people who sing his praises haven’t seen through the pattern yet.😂”

4o

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