Andrew Tate’s crypto ‘Daddy Tate’ crashes over 60% since launch
The post Andrew Tate’s crypto ‘Daddy Tate’ crashes over 60% since launch appeared on BitcoinEthereumNews.com.
Once touted as the next big thing in the meme token world, Andrew Tate’s “Daddy Tate” cryptocurrency has seen a staggering decline since its launch. Trading at $0.09411, the token has plummeted 60.28% from its peak, and 39.28% over the last month alone, according to the latest data from CoinMarketCap on November 13. DADDY all-time price chart. Source: CoinMarketCap This drastic fall has sliced Daddy Tate’s market cap from a high of $120 million down to $56 million, with only nine green days out of the past 30—a troubling sign for holders. Since reaching DADDY’s all-time high of $0.28677 on June 14, 2024, Daddy Tate has been on a downward trajectory, hitting a cycle low of $0.04991 on August 5. The highest price it achieved since that low was $0.185184, but it appears unable to maintain any significant recovery. This volatility has left many questioning the token’s long-term viability, especially as its market cap continues to erode, despite the broader cryptocurrency market value hitting an all-time high with Bitcoin (BTC) briefly hitting $90,000. Mommy beats Daddy since launch In past tweets, Tate himself made bold claims suggesting Daddy Tate would “beat Mommy”—a nod to the rival token “Mother Iggy” (MOTHER). However, in comparison, MOTHER has seen a 211% increase since its own launch in May and currently trades at $0.06. MOTHER all-time price chart. Source: CoinMarketCap As of the latest data from Solscan, Daddy Tate boasts a 62,760-strong holder base, though the token distribution remains highly concentrated: 21.89% of the supply is held by just 10 addresses, a slight decrease from the previous 25.36%, indicating a gradual move toward decentralization. DADDY token holder chart. Source: Solscan Despite these figures, the overall sentiment remains mixed. DADDY token’s high initial trading volume and rapid accumulation of holders initially signaled strong community backing,…
Filed under: News - @ November 13, 2024 1:20 pm