Nigerian Investor Loses Over N180,000 in 24 Hours After Buying Davido Coin Meme

A Nigerian crypto investor, Itohan, has shared her cautionary tale of losing a significant amount of money after investing in the Davido Coin meme. She took to social media to express her disappointment and warn others about the risks of investing in unverified cryptocurrency schemes.

Itohan initially invested $157.68 (N210,000) in the Davido Coin meme, hoping to make a profit based on its strong promotional campaign. However, her optimism was short-lived as the value of the coin plummeted massively just hours after her purchase. When she checked her investment again, the value had decreased to $20.51 (N27,000), resulting in a loss of over N180,000 within 24 hours.

In the comment section, Itohan explained her rationale for investing, stating that she missed out on the first space and was convinced by the promotional campaign, thinking that Davido had “created magic.” She further revealed that she waited until the midnight space, only to realize her mistake when Davido spoke and everyone started selling.

Itohan’s story serves as a warning to others about the risks of investing in unverified cryptocurrency schemes and the importance of doing thorough research before making investment decisions. As the cryptocurrency market continues to evolve, it’s crucial to approach investments with caution and skepticism, especially when faced with overly promotional campaigns.

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