Nigerian Pop Artist Shills Meme Coin and Price Briefly Double – Subscribers Question Artist’s Motivations – Altcoins Bitcoin News

[ad_1]

Nigerian pop artist and celebrity Davido recently posted several tweets endorsing “rapdoge”, the so-called “first deflationary token fully backed by celebrities and rappers.” In one of the tweets, Davido told his 9.5 million followers to “buy $ 20, $ 100, or $ 1000 in rap doge tokens and be ready to make some money.”

Pump and dump

In one next tweetDavido, who has previously said he is considering starting a bitcoin trading company, asks, “Who listened to me about RapDoge?” After the coin was shilling by the artist on July 19, 2021, the price of the rap doge token jumped more than 100% as interest in crypto increased. However, at the time of writing, rapdoge, which promoters claim to be the next big coin, has seen its value return to pre-shilling levels.

Nigerian Pop Artist Shills to Meme Coin, Price Doubles Briefly - Subscribers Question Artist's Motivations

In the meantime, it looks like the pop artist’s latest endorsement for a crypto asset hasn’t been well received by some of his followers. As Cryptotvplus report explains, Davido’s shilling of the rapdoge token comes just months after Racksterli, a Ponzi scheme he promoted, which crashed.

When Racksterli broke down Davido reportedly stopped tweeting about it and now some of his supporters believe the celebrity might be trying to do the same with the rapdoge token.

Mixed reactions to Davido’s hype

Other Davido followers, like Twitter user Daniel Regha, insist the Nigerian artist, who recently released a song starring Chris Brown and Young Thug, needs to make sure a project is legitimate before promoting it. Regha tweeted:

Davido u has already influenced a Ponzi scheme company (Racksterli) that allegedly defrauded a lot of people, so be sure to check Rapdoge’s background so your followers don’t take your word for it and fall victim to second time scammers. . Only promote a brand if you are sure it is legitimate.

Do you think Davido’s rapdoge shilling was responsible for its brief price spike on July 19? Let us know what you think in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.


var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v3.2″;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source Link