The meme coin DADDY recently experienced a significant surge of 35% in its price within a 24-hour period. This surge brought its value to approximately $0.15, with a market capitalization close to $100 million. The catalyst for this price increase was an announcement made by Andrew Tate, a former kickboxer and popular online influencer, urging DADDY holders to accumulate more assets within a 72-hour window. Tate hinted at a grand plan that he has been working on for a long time, emphasizing values like honor, hard work, and diligence over mere luck or rug-pulling.
Despite DADDY’s recent price surge, the token has faced controversy regarding insider purchases. Crypto analytics firm Bubblemaps revealed that insiders acquired 30% of the token’s total supply at launch, with Tate himself receiving 40% of all DADDY tokens, totaling over $35 million in value. This controversy has raised concerns about the token’s fairness and transparency, especially considering Tate’s previous statements about flipping another meme coin, MOTHER, “for the patriarchy.”
While DADDY experienced a notable price increase, its rival meme coin, MOTHER, has faced a sharp decline in value. This decline, announced by Australian model and rapper Iggy Azalea, amounted to a 14% drop in daily price and nearly 50% decrease over the past week. Ethereum co-founder Vitalik Buterin criticized the celebrity experimentation within the meme coin space, highlighting MOTHER’s underperformance and contrasting it with past celebrity-driven projects like Ashton Kutcher and Mila Kunis’s Stoner Cats, which funded an actual show.
The contrasting fortunes of DADDY and MOTHER illustrate the volatile nature of meme coins and the risks associated with investing in them. While DADDY’s price surge and controversial background have garnered attention, MOTHER’s decline serves as a cautionary tale about the dangers of entering the meme coin niche without thorough research and understanding. As both tokens navigate the unpredictable world of cryptocurrency, investors should approach these investments with caution and be prepared for potential financial losses.
Leave a Reply