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

Pumping and draining

In one subsequent tweetDavido, who previously said he was considering starting a Bitcoin trading company, asks, “Who was listening to me at RapDoge?” After the artist shilling the coin on July 19, 2021, the price of the Rap Doge token rose more than 100% as interest in the crypto grew. However, at the time of this writing, Rapdoge, which promoters claim to be the next big meme coin, is seeing its value returning to pre-shilling levels.

Nigerian pop artist donates a meme coin and the price briefly doubles - followers question the artist's motives

Meanwhile, the pop artist’s recent endorsement of a crypto asset doesn’t seem to have gone down well with some of his followers. As a Cryptotvplus report explains, Davido’s schilling of the Rapdoge token comes just a few months after Racksterli, a Ponzi scheme he sponsored that crashed.

When Racksterli refueled, Davido reportedly stopped tweeting about it, and now some of his followers believe the celebrity may 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 that the Nigerian artist, who recently released a song with Chris Brown and Young Thug, needs to make sure a project is legitimate before promoting it. Regha tweeted:

Davido You once lobbied a Ponzi systems firm (Racksterli) that allegedly cheated on a lot of people so make sure you do a background check on Rapdoge so your followers don’t take you at your word and fall victim to scammers a second time. Only make a brand known if you are sure that it is genuine.

Do you think Davido’s rap dog shilling was responsible for the brief price hike on July 19th? Let us know what you think in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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