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Andrew Tate-Backed Solana DADDY Token Rises 450% Amid Insider Buying Calls
Just a year later disavowing cryptocurrencyformer kickboxer and social media personality Andrew Tate started to spending spree of meme coins late last week, shilling a number of tokens in the process. The latest token he approved skyrocketed beyond Market capitalization of $275 millionbut on-chain analysts say there was significant domestic activity before the surge.
DADDY is the latest in a series of tokens that self-proclaimed misogynist Tate has publicly supported. Tate affirmations that he chose DADDY as his direct rival Iggy Azalea’s MOTHER token in an attempt to, as he said“flip it for the patriarchy.”
Since launching on June 9, the Solana-based DADDY token has increased in value, but it wasn’t until Tate started promoting the project that it really started to grow. On Tuesday afternoon, Tate posted his first tweet referencing the token before actively investing in the project in the early hours of Wednesday morning.
As a result, the Solana token increased by more than 450% to a price of $0.28 in the last 24 hours. But the start of cryptographic analysis Bubble maps alleged foul play, claiming that much of the supply was purchased at launch and that more was purchased before Tate promoted it on Twitter.
Bubblemaps claims that shortly after the token’s launch, DADDY’s creator sent Andrew Tate’s public wallet 40% of the supply, while Tate later purchased and burned $10,000 worth of additional tokens. But how proclaimed by Tate himselfhe didn’t sell any tokens.
Instead, nearly 20% of the total supply was grabbed by just 11 wallets funded through Binance, all before the meme coin went live on its site. Twitter account for the first time. Bubblemaps cannot confirm the source of these wallets, but the company believes the timing and amount purchased “strongly suggests” that they all came from the “same group.”
“These wallets hold approximately 19% of the total supply, worth $30 million at the current price,” Bubblemaps said on Twitter late Wednesday, ahead of the latest earnings. “Selling a portfolio could cause liquidity to collapse.”
In addition to this group, the analyst firm highlighted another group of portfolios it holds 10% of the supplyall purchased before Tate’s first tweet, which Bubblemaps says apparently attempted to do so cover his tracks dividing the funds into separate portfolios.
For now, Tate says he will not sell any crypto tokens, even going as far as selling them publicly denounce cryptocurrencies again on Twitter. That said, there is nothing stopping him from selling his share of over $100 million worth of DADDY tokens that make up 40% of the total supply.
“Real Gs know their money is safe with a real G,” Tate tweeted in response to concerns, as fears circulated that it could dump on investors. “I will never sell what was sent to my wallet, I will burn it and only buy it.”
Not all of Twitter has delivered on its promise as a pseudonymous crypto influencer Ansem– which he had previously Tate slammed, challenging him to a boxing fight—accused him of possessing portfolios with suspicious activities. Tate’s answer to these serious accusations there was simply: “Shut up, bitch.”
All this happens in the midst of Tate’s trail for alleged human trafficking and rape in Romania. Most recently, in March, British authorities issued a separate arrest warrant for Andrew Tate and his younger brother Tristan on charges of rape and sexual assault. Romanian authorities agreed to extradite the influencer only after the conclusion of the trial in their country.
Tate is currently in Romania awaiting trial. He is forbidden to leave the country.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.