Andrew Tate’s DADDY Coin Soars Past Iggy Azalea’s MOTHER Token Amid Insider Trading Allegations

Discover how Andrew Tate's DADDY coin surged ahead of Iggy Azalea's MOTHER token amid insider trading claims. Is it worth the hype? Read now!

Published on Jun 13, 2024  |  06:48 PM IST |  128.9K
Image Source: GETTY
Image Source: GETTY

Andrew Tate’s new DADDY memecoin is making waves. Trading at $0.3328, its market cap has soared to $333 million. How did it climb 238% in just 24 hours? Even more intriguing, this rise comes amidst insider trading allegations. Tate holds 40% of the total supply and vows not to sell.

But can he be trusted? Meanwhile, Iggy Azalea’s MOTHER token also saw a boost. Announcing that holders can buy mobile phones and subscriptions, the token surged 30%.

But is it enough to compete with DADDY? What’s driving these coins? Are they genuine opportunities or just hype-fueled risks?

Big investors holding huge bags of DADDY, should you be worried?

Andrew Tate launched his DADDY memecoin on June 11, and it quickly gained traction on the Solana platform, known for its popularity with memecoins. As soon as he tweeted about it, the coin began to soar. Tate, holding 40% of the total supply, has made a bold promise.

Despite Tate’s assurances, blockchain investigator Bubblemaps has raised serious concerns. According to Bubblemaps, “11 wallets, all funded with nearly identical amounts through Binance simultaneously, acquired 20% of DADDY on June 9.” These wallets now hold 19% of the total supply, valued at $63 million.

One particular wallet, identified as "4SfQWh," connects two other clusters, which collectively hold another 10% of the supply. These clusters made their purchases before Tate’s tweet, raising suspicions of insider trading.


Bubblemaps added, “The amounts and timing strongly suggest they are part of a single group.” This revelation puts a question mark over the coin’s meteoric rise. Meanwhile, Tate’s own holdings, worth $133 million, remain unburned, which means he could sell at any moment, potentially impacting the coin's value drastically.

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In contrast, Iggy Azalea’s MOTHER token has also seen a surge, though not as dramatic. Azalea announced that MOTHER token holders could use it to purchase mobile phones and subscriptions from her relaunched telecommunications company. This utility-driven approach boosted the token’s value by 30%.

The rapid rise of these coins, driven by celebrity endorsements and social media hype, highlights the volatile and unpredictable nature of the memecoin market. While some see opportunities, others warn of the high risks involved.

So, what’s your take on this memecoin frenzy? Are you intrigued by the potential rewards, or are you cautious of the risks?

Also Read: UFC PR Team Forced to Hold Meetings Over Sean Strickland’s ‘Unadulterated’ Behavior

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Mrinal Mishra has made a mark as a combat sports writer, with more than a year of dedicated coverage

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