Andrew Tate's $DADDY Token Sparks Controversy Amidst Price Surge 💙
Andrew Tate’s recently launched $DADDY token has become a focal point in the crypto market, experiencing a dramatic surge in value while also drawing significant controversy. The Solana-based token saw its price rise by over 450% in the past few days, reaching a market cap of approximately $300 million.
Tate's aggressive promotion of the token on social media, including a series of tweets starting on June 11, has been a major driver behind its rapid appreciation. However, on-chain analytics firm Bubblemaps has flagged substantial insider trading activity, alleging that insiders acquired 30% of the token supply before Tate’s promotional efforts began.
Bubblemaps’ investigation revealed that multiple wallets funded through Binance bought 20% of the token supply just before Tate’s public endorsement. These wallets are believed to be linked, holding a combined value of around $30 million. Furthermore, Tate himself holds 40% of the token’s supply, worth over $100 million, which he has vowed not to sell but only to burn or buy more.
The controversy surrounding $DADDY comes amid ongoing legal issues for Tate, who is facing serious charges in Romania. Despite the legal challenges and the controversy, Tate remains a prominent and influential figure in the cryptocurrency space.
