Contrasting Bitcoin’s recent decline to $53,500, Andrew Tate’s Daddy Tate (DADDY) meme coin demonstrates resilience, suffering only a modest 5.64% drop over the past 24 hours. This occurs as the broader cryptocurrency market crashes, with major players like Ethereum (ETH) and Solana (SOL) taking sharp dives.
Meanwhile, Tate’s other meme coin, Real Nigger Tate (RNT), is up by over 17%. His meme coins surge amidst anticipation of an airdrop.
Andrew Tate Shares Plans For The Real World (TRW) Token
According to data from DEX Screenr, DADDY’s market capitalization has reached approximately $115 million, surpassing the 50,000-holder mark. This milestone is significant, particularly as Bitcoin endures its second-largest liquidation event in history.
Tate has teased even grander aspirations, forecasting a $1 billion market capitalization for the meme coin.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Amidst this, Andrew Tate, a controversial social media influencer, has announced an airdrop of The Real World (TRW) token, backed by his educational business. Tate claims that the value of TRW is directly linked to his enterprise’s profits, which reportedly amass about $20 million monthly.
“This token is going to be backed by the profits of the real world. Depending on how much of the tokens you own, depends how much of The Real World you own. If you own 1% of the token supply, you own 1% of The Real World,” Tate elucidated.
However, this bold initiative has not escaped scrutiny. Crypto investor Luke Martin voiced concerns about potential regulatory challenges from the US Securities and Exchange Commission (SEC).
“He either makes 9 figs or gets a 9 fig legal battle with the US government. Bold strategy,” Martin said.
Despite potential legal complications, Tate confidently asserts his readiness to handle SEC inquiries.
“If you knew the names working with me to handle SEC obligations, you wouldnt worry,” Tate said.
Conversely, on-chain analytics platforms like Lookonchain and Bubblemaps have raised alarms about insider activities connected to DADDY. Lookonchain highlighted a notable transaction in which an insider sold 15.14 million DADDY coins for about $1.74 million after acquiring them for merely $1,950. This transaction resulted in a profit magnification of nearly 2,875 times.
Read more: Crypto Scam Projects: How To Spot Fake Tokens
Moreover, Bubblemaps identified dubious trading patterns near DADDY’s launch, revealing that insiders had secured 30% of the total supply before Tate’s promotional activities commenced.
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