Memecoins
Andrew Tate promoted the meme coin DADDY flips Iggy Azalea’s MOTHER
Andrea Tate promoted memetic currency DAD it overturned MOTHERthe token created by Australian rapper Iggy Azalea, second DEX Screener. This was what former kickboxer, Tate, was aiming for when he first promoted the token.
“I’m backing a coin called $DADDY to pitch it for the patriarchy,” Tate posted on Twitter, shortly after I first promoted it. “We’re bringing the G’s back, make me a fucking sandwich, bitches.”
The self-proclaimed misogynist launched a series of tweets promoting the token, claiming that he will never sell but burn instead 40% of the supply it keeps in its public wallet.
In turn, the token surpassed the market capitalization of $200 million by midday on Wednesday, upending in the process MOTHER which had a market capitalization of $192 million.
Shortly after, the MOTHER token launched by Iggy Azalea recovered a market capitalization of $200 million. While the artist visited the New York Stock Exchange and Forbes published an article touting her as a “pioneer of the creative economy,” the token has grown to a market capitalization of $212 million.
But this wasn’t enough to regain its place as the top influencer token as DADDY continued to grow. He soon moved on MOTHER is at an all-time high market cap of $240 million and quickly surpassed a market cap of $300 million, reaching a peak of $340 million. Meanwhile, MOTHER has fallen below $200 million.
Now the TateThe approved token DADDY has a market capitalization of $256 million, while MOTHER has fallen to $163 million. Tate, who is currently awaiting trial in Romania on alleged human trafficking and rape charges, took to Twitter to celebrate, claiming that he is “built differently” and it’s “taking over.”
All of this comes in between statements from internal buyers rallied against the DADDY token. Bubblemaps, crypto analytics startup posted a series of tweets which, according to them, shows that insiders purchased 30% of the total supply at the time of the token’s launch, in addition to the fact that Tate received 40% of the supply.
“Selling a portfolio could cause liquidity to collapse,” the team says published.
It is interesting to note that similar statements have rallied against the analytics firm’s Azalea MOTHER token. In this case, they believe 20% of the supply was cut with these wallets already selling $2 million at the time of publication.
This happens against the background of Tate’s trail for alleged human trafficking and rape in Romania, resulting in the influencer being banned from leaving the country.
In March, British authorities issued separate arrest warrants 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.
By Stacy Elliott.