Gushiken Yona
Andrew Tate, a former kickboxer and controversial social media personality, slammed critics as DADDY flipped MOTHER following a triple-digit surge. The Tate-promoted meme coin has surged by 450% in the past 24 hours, overtaking Iggy Azalea’s MOTHER token and sparking allegations of insider trading amid its meteoric rise.
Since its launch over the weekend, the Solana-based DADDY token has steadily climbed in value. However, it wasn’t until Tate started promoting the project that it saw a significant surge.
In response to the accusations, Tate took to Twitter to address the “old dorks of crypto twitter,” accusing them of spreading fear, uncertainty, and doubt (FUD) about DADDY token because they are envious of his influence and ability to disrupt their established scams.
Tate further questioned the track record of these critics, asking his followers whether they had ever been enriched by these “nerds” or simply scammed and exploited. His defiant stance, summarized in the statement “No more bullsh*t,” underscored his unwavering confidence in DADDY and his rejection of the naysayers.
DADDY flipped MOTHER, the token created by Australian rapper Iggy Azalea, after surging by triple digits to $0.28 over the past 24 hours. The surge followed Tate’s endorsement and the token boasted a market cap exceeding $275 million, but accusations of insider trading have raised eyebrows.
While the DADDY meme coin had experienced a gradual climb in value since its launch, it was Tate’s promotion on X (formerly Twitter) that sparked the exponential growth. His initial tweet referencing the token on Tuesday afternoon was followed by active shilling in the early hours of Wednesday morning, fueling the token’s rapid ascent.
This aggressive promotion campaign catalyzed DADDY’s impressive rise. Tate’s recent act of shilling and launching a meme coin spending spree is a huge U-turn from what he publicly declared about a year ago, disavowing cryptocurrencies. DADDY is a direct rival to Azalea’s MOTHER and Tate said he wanted to “flip it for the patriarchy.”
However, the jubilation surrounding DADDY’s success is now clouded by allegations of foul play.
According to crypto analytics startup Bubblemaps, a significant portion of the DADDY’s supply was acquired at launch, with more tokens being purchased just before Tate’s public endorsements. They allege that shortly after DADDY launched, the token’s creator sent 40% of the supply to Andrew Tate’s public wallet.
Additionally, Tate reportedly bought and burned $10,000 worth of tokens, a move he claims was to support the token’s value. Despite these actions, Tate has asserted that he did not sell any tokens. These allegations of insider trading have cast a shadow over DADDY’s meteoric rise.
While the token currently sits at rank 5, with MOTHER trailing at rank 21, the ethical concerns surrounding Tate’s involvement and the token’s surge cannot be ignored. The rapid ascent of DADDY has sparked debates within the crypto community about the influence of high-profile endorsements and the transparency of token distributions.
As of 11:44 a.m. ET on Thursday, DADDY was trading at $0.2184, representing a 17.74% spike in value with a market capitalization of $224.3 million, based on the latest data from DEX Screener.
Disclaimer: Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
