Andrew Tates cryptocurrency plummets following significant announcement
Ever since its inception, the meme-based cryptocurrency Daddy Tate (DADDY), associated with the renowned British-American social media figure and former professional kickboxer Andrew Tate, also known as Top G, has experienced a surge in popularity and value, thanks to Tate’s promotion.
Following Tate’s statement that he has “never seen mommy beat DADDY” and his revelation about transforming this digital asset into a utility token, the price of DADDY has continued to rise, surpassing Iggy Azalea’s MOTHER coin. On June 18, data indicated that $DADDY will soon be utilized as a payment method to access The Real World, a significant milestone for our supporters and investors.
On June 15, Tate made an announcement through his The Real World educational platform that they will start accepting DADDY as a payment method, resulting in a substantial 30% price increase within two days of the declaration. However, the journey for DADDY took a different turn as the value dropped from $0.1983 to $0.1281, a decrease of over 35%, following Tate’s plans to convert DADDY into a non-fungible token (NFT) labeled as a “non-gay token (NGT).”
In a surprising twist, a prominent X user named lyx.eth or DexGemsReal highlighted the similarities between DADDY and another popular memecoin, Pepe (PEPE), suggesting that Tate’s cryptocurrency could achieve similar price levels to PEPE in the near future.
As of the most recent data retrieved on June 18, DADDY’s price stands at $0.1281, showcasing a 37.70% decline in the last 24 hours and an overall drop of 45.93% since its trading metrics were introduced on CoinMarketCap. Despite the fluctuations, DADDY has attracted a significant amount of interest, with the number of DADDY holders increasing to over 38,310 on June 18, reflecting an 11.8% rise from the previously reported 34,266 holders.
It is essential to acknowledge the volatility of prices in the crypto industry, especially with new tokens influenced by public figures’ statements. Therefore, conducting thorough research and being aware of potential risks are crucial before investing in such assets.