• SEC warns against $DAVIDO meme coin, citing speculative risks and lack of regulatory oversight.
• $DAVIDO surged to $10 million market cap quickly but lacks fundamental investment value.
• Davido’s involvement highlights popularity but also raises concerns about speculative nature.

The Nigeria Securities and Exchange Commission (SEC) has issued a warning against investing in $DAVIDO, a meme coin linked to Nigerian musician David Adeleke, also known as Davido. The warning, highlighted by crypto news source Legit.ng, comes as interest in the digital currency grows, and emphasizes the risks associated with speculative investments.

$DAVIDO launched with enthusiasm and quickly gained popularity, reaching a market capitalization of $10 million in just four hours. Using platforms like Phantom and Solana, Davido promoted the coin as a digital tribute to himself, targeting his large social media following.

However, the SEC’s …

The post Nigerian SEC Issues Warning on Davido-Linked Meme Coin $DAVIDO appeared first on Coin Edition.

• SEC warns against $DAVIDO meme coin, citing speculative risks and lack of regulatory oversight.
• $DAVIDO surged to $10 million market cap quickly but lacks fundamental investment value.
• Davido’s involvement highlights popularity but also raises concerns about speculative nature.

The Nigeria Securities and Exchange Commission (SEC) has issued a warning against investing in $DAVIDO, a meme coin linked to Nigerian musician David Adeleke, also known as Davido. The warning, highlighted by crypto news source Legit.ng, comes as interest in the digital currency grows, and emphasizes the risks associated with speculative investments.

$DAVIDO launched with enthusiasm and quickly gained popularity, reaching a market capitalization of $10 million in just four hours. Using platforms like Phantom and Solana, Davido promoted the coin as a digital tribute to himself, targeting his large social media following.

However, the SEC’s …

The post Nigerian SEC Issues Warning on Davido-Linked Meme Coin $DAVIDO appeared first on Coin Edition.