🪙 Will you invest in $DAVIDO memecoin?

Today’s Menu ☕️

🪙 $DAVIDO meme coin: an investment opportunity or not?
🏢 GITEX Africa 2025 to Showcase Nigeria’s Thriving Tech Scene, Building on 2024 Success
🪙 PayPal USD (PYUSD) Now Available on Solana Blockchain
📉 Huggies maker, Kimberly-Clark to stop production three years after investing $100m in Nigeria

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🪙 CRYTOCURRENCY

$DAVIDO meme coin: an investment opportunity or not?

Nigerian music superstar and Grammy award nominee, Davido (real name David Adeleke) sent shockwaves through the crypto world on Wednesday, with the launch of his own memecoin, $DAVIDO. Davido took to his X handle to announce the launch of the token, and the official Solana handle acknowledged his tweet.

Immediately after launch, the coin soared in price, fueled by fan enthusiasm and celebrity backing. Davido took to his X platform to actively promote the token to his followers. He encouraged them to hold onto their tokens, expressing his own strong belief that the market cap would reach $30 million. Within four hours after launch, it rose to a $10 million market capitalisation.

On Thursday morning, the token price witnessed a downturn, trading at $0.000010 marking a decline of over 93% from its peak on Wednesday. The musician had sold 121.88m DAVIDO for 2,791 $SOL, worth approximately $474,000. This sharp price drop and concerns about the project’s legitimacy have sparked a debate online: is $DAVIDO a legitimate project or a potential “rug pull” scam?....continue reading

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🏢 TECH EVENTS

GITEX Africa 2025 to Showcase Nigeria’s Thriving Tech Scene, Building on 2024 Success

Nigeria’s vibrant technology ecosystem is set to take centre stage in 2025 as the country hosts GITEX Africa, the premier tech event on the continent. This landmark event follows a successful 2024 edition in Marrakech, Morocco, where a number of Nigerian startups made their mark, highlighting the country’s burgeoning tech scene.

The announcement, made on Thursday afternoon, follows the signing of a Memorandum of Understanding (MoU) between the National Information Technology Development Agency (NITDA) and the Dubai World Trade Centre (DWTC), the organizers of GITEX...........continue reading

🪙 CRYPTOCURRENCY

PayPal USD (PYUSD) Now Available on Solana Blockchain

Global payment giant PayPal has launched its stablecoin, PYUSD, on the Solana blockchain, aiming to increase its footprint in the stablecoin market. Previously, PYUSD was available exclusively on the Ethereum blockchain, marking Solana as its second blockchain integration.

Why Solana?

The Solana blockchain is renowned for its high-speed processing and low transaction costs, making it particularly beneficial for commerce. According to blockchain analytics platform Artemis, Solana is the most used blockchain for stablecoin transfers. This makes it an ideal platform for PYUSD as it continues to be utilized for payment purposes........continue reading

OTHER STORIES

• Fitbit Ace LTE: Hands On With Google's First Smartwatch for Kids. Fitbit's first smartwatch for kids focuses on gaming and safety. Unveiled on Wednesday, the $229 Fitbit Ace LTE has a built-in arcade with a variety of games that both emphasize movement and encourage kids to take breaks to unlock more to play. It's available for preorder now and will hit store shelves on June 5.…….read more

• Huggies maker, Kimberly-Clark to stop production three years after investing $100m in Nigeria . Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.……read more