Token

Tate

Mother Iggy

<ul> 
 <li>Daddy Tate token surges to $300M cap after a 218% increase in just 24 hours.</li> 
 <li>Bubblemaps flags insider trading with 30% of DADDY bought pre-promotion.</li> 
 <li>Despite market scrutiny, Tate promises to burn or buy tokens, not sell.</li> 
</ul> 
The cryptocurrency sphere witnessed a remarkable development as Daddy Tate (DADDY), a memecoin endorsed by the former professional kickboxer Andrew Tate, <a href="https://dexscreener.com/solana/zcdaw3jpcqey8jyvxnvmqs2cu35cyddy4ot7v8ednhz" target="_blank" rel="noreferrer noopener">soared</a> to a market capitalization of $300 million. This spike occurred after the token’s value jumped from 10 cents to 30 cents within a 24-hour period, reflecting a substantial 218% increase. 
Insider Activity Raises Concerns 
Concerns of insider trading emerged alongside the token’s rise. Bubblemaps, a crypto analytics firm, <a href="https://twitter.com/bubblemaps/status/1800845676948988298" target="_blank" rel="noreferrer noopener">reported</a> a suspicious pattern involving a select group of wallets. These wallets acquired 30% of DADDY’s total supply just days before Tate began promoting the token on social media platform X.&nbsp; 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Im the <a href="https://twitter.com/search?q=%24DADDY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DADDY</a>. 200Mil market cap. Im going to burn all of this shit live on Rumble. My last burn was 37million dollars. But now I refuse to burn less than 100million dollars. No brokey burns. Top G. Built different.— Andrew Tate (@Cobratate) <a href="https://twitter.com/Cobratate/status/1800826226900177387?ref_src=twsrc%5Etfw">June 12, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
According to Bubblemaps, this early buying spree involved 11 wallets purchasing 20% of the supply on June 9, actions prefunded by nearly identical transactions from Binance. 
This revelation has sparked discussions about market manipulation, as such concentrated ownership could pose risks to the token’s stability. Bubblemaps warned that sales from any of these major holders could significantly impact DADDQ’s liquidity and price. 
Comparison with Other Celebrity Tokens 
The scenario around Daddy Tate starkly contrasts with the performance of other celebrity-endorsed tokens, such as Mother Iggy (MOTHER) by rapper Iggy Azalea. While MOTHER also faced early insider buying allegations, its market cap has almost <a href="https://dexscreener.com/solana/hcpgh6b2yhnvt6jsemkrhyt8pvhu9xiaoxm4mmn2ibww" target="_blank" rel="noreferrer noopener">halved</a> from its peak, now standing at $153 million. 
In response to the allegations, Andrew Tate asserted on X that he would neither sell nor exploit his holdings but would rather engage in actions beneficial to the token’s ecosystem, like burning or buying more tokens. 
As the crypto market continues to evolve, the activities of high-profile influencers are likely to remain a focal point of regulatory scrutiny and investor caution. This trend underscores the volatile and often unpredictable nature of memecoins in the digital asset space. 
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</ul> 
The post <a href="https://cryptonewsland.com/andrew-tates-daddy-token-hits-300m-cap-amid-controversy/">Andrew Tate’s DADDY Token Hits $300M Cap Amid Controversy</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Andrew Tate’s DADDY Token Hits $300M Cap Amid Controversy

Crypto News Land

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