TL;DR
- Meme coin DADDY surged 35% after Andrew Tate’s announcement encouraging accumulation.
- The token faces insider buy controversy, whereas rival coin MOTHER’s value has sharply declined.
DADDY Heads North Once more
One of many newest sensations within the meme coin area of interest – DADDY – noticed its value hovering by 35% prior to now 24 hours. It at present trades at round $0.15 (per CoinGecko’s knowledge), whereas its market capitalization stands simply shy of the $100 million milestone.
The token’s newest rally might have been triggered by an attention-grabbing announcement from Andrew Tate (a former kickboxer and a fashionable on-line influencer). He urged all DADDY holders to build up as many belongings as they’ll within the subsequent 72 hours (round 48 hours left), claiming he has ready a “grand plan” after that interval:
“We’re going to construct a spot constructed on honor, onerous work and diligence versus merely being in first, getting fortunate, rugpulled. I’ve been engaged on this for a very very long time, and that is your 72-hour warning.”
A number of weeks in the past, Tate revealed supporting DADDY so it will possibly flip MOTHER (one other meme coin) “for the patriarchy.” He additionally promised to burn his stash, insisting he doesn’t need cash however chaos.
It’s price mentioning that DADDY turned the topic of big controversy after crypto analytics agency Bubblemaps maintained that insiders bought 30% of the provision at launch. The entity additional said that Tate acquired 40% of all DADDY tokens, that are at present price greater than $35 million.
Final month, the previous kickboxer, recognized for his misogynist views, launched his personal meme coin, ticked RNT. The token can be nicely within the inexperienced, registering an 8% enhance for the day.
What About MOTHER?
DADDY’s rival, introduced by the Australian mannequin and rapper Iggy Azalea, has been underperforming these days. Its value is down 14% on a day by day scale and virtually 50% within the final week.
Just like DADDY, MOTHER triggered some individuals to lift eyebrows. One of many critics was Ethereum’s co-founder Vitalik Buterin, who stated:
“I’m feeling fairly sad about “this cycle’s movie star experimentation” up to now. […] Ashton and Mila’s Stoner Cats was vastly extra honorable than something we’ve seen from this 2024 movie star meme coin period – no less than there was an precise present being funded.”
MOTHER’s downfall ought to function a reminder that coping with the meme coin area of interest might be fairly harmful and result in essential monetary losses. If you’re about to hop on the bandwagon, please check out our devoted video beneath:
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