I don't find the "Daquan" meme funny at all. Basically, it's a meme created by Black Twitter that stereotypes the "hood" Black guy who exclusively dates upper middle class white girls.
Daquan is a pedophile, a money launderer (with the assistance of his white girlfriend), obsessed with sex, a rapist ("he let the whole squad hit"). He also shuns education. Supports violence. And is only concerned with making money (illegally) and being a rapper.