Andrew Tate's DADDY meme coin dethrones Iggy Azalea's MOTHER after 450% surge
- Andrew Tate's DADDY token surpassed Iggy Azalea's MOTHER after reaching a $300 million market cap.
- Suspicion surrounds DADDY token with analysts claiming that Tate possesses 40% of its total supply.
- Andrew Tate and meme coin trader Ansem engage in a war of words following DADDY token's rise.
Social media influencer Andrew Tate's DADDY token surpassed Iggy Azalea's MOTHER token on Thursday after he declared he "is taking over." Meanwhile, speculation arose among crypto community members, suggesting insider activity in DADDY's rise.
Andrew Tate storms crypto meme sector with aim to 'crash Solana'
Social media personality and former boxer Andrew Tate has stirred massive attention following his active promotion of Daddy Tate (DADDY), a Solana-based meme token. Tate began promoting various crypto tokens on Friday, claiming he "will crash Solana."
Also read: Base meme coins bleed, with BRETT, BENJI, CHOMP, KEYCAT posting double-digit losses
DADDY token surpassed Iggy Azalea's MOTHER in market cap, hitting $200 million shortly after a post by Tate on X endorsing the token. The two tokens were neck-and-neck with each other before DADDY landed the final blow, hitting $300 million in market cap.
The sudden rally of the DADDY token has not occurred without suspicion. Bubblemaps, an on-chain analytics firm, recently revealed controversial data surrounding the token, claiming that there might be serious insider trading activity.
Data by Bubblemaps shows that insiders bought 30% of the supply at market launch a few hours before Andrew Tate began promoting the token on X. Bubble maps also stated that Tate sent 40% of the total supply to a wallet but promised not to sell any of his tokens.
Read more: Top trending meme coins PEPE, BOME, TRUMP: Bearish signs persist
"Andrew Tate stuck to his word and didn't sell any tokens. But here's the catch:
11 wallets, funded through Binance with nearly identical amounts at the same time, bought 20% of $DADDY on June 9th, before @DaddyTateCTO's first tweet," Bubblemaps alleged.
Some other community members have expressed concerns that Tate could sell off his tokens anytime, as the recent trend with celebrity meme coins has been over the past month. According to Bubblemaps, Tate's holdings are worth $64 million.
Despite the suspicious activity surrounding the token, some meme traders seem happy about DADDY and support the plan to hit $1 billion in market cap.
Also read: Meme coins among largest gainers following crypto market recovery after lower CPI inflation data
Following the recent trend with DADDY, Andrew Tate has gone into a war of words with popular meme coin trader Ansem on the X platform. Ansem had also previously released a failed DADDY Ansem token, which has dropped over 90% since its initial launch.
Both influencers have continued to argue with each other and have even agreed to a boxing match.
"Let's box. I will fight with one hand. Loser donates 10M to a coin of the winner's choice," said Tate.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
