Andrew Tates cryptocurrency token reaches a market capitalization of 120 million
In a significant milestone for Andrew Tate, a controversial influencer, his cryptocurrency, Daddy Tate (DADDY), has achieved a market capitalization exceeding $120 million. This achievement marks a pivotal moment for the token, leveraging Tate’s extensive social media following and strong brand recognition.
Recently, DADDY’s market cap surged to $124.57 million, experiencing a remarkable 35% increase within a day and over 80% in the past week, according to the latest data from CoinMarketCap as of July 4th.
DADDY market cap 24-hour chart. Source: CoinMarketCap
Andrew Tate’s prominence on Twitter has notably propelled DADDY’s rise. Launched just weeks ago, this cryptocurrency has garnered substantial attention and swiftly appreciated in value, delivering impressive returns to early investors. Notably, one investor turned an initial $2,000 into $1.74 million, significantly enhancing Andrew Tate’s net worth.
Furthermore, DADDY has amassed a community of 47,600 holders, marking a nearly 40% increase since June 17th, as reported by Solscan.
Interestingly, the distribution of DADDY tokens shows that 25.36% of the supply is concentrated in 10 addresses, while the remaining 74.63% (447 million tokens) is distributed among other holders.
DADDY holders summary. Source: Solscan
As of the latest update, the Daddy Tate token is trading at $0.2181, reflecting a 34.63% increase over the past 24 hours and an 86.03% increase over the past week. Despite a 7.94% monthly decrease, DADDY has outperformed the broader market during a bearish trend.
DADDY price 7-day chart. Source: CoinMarketCap
Overall, Andrew Tate’s cryptocurrency has surged in value, driven by his fame as a former professional kickboxer and influencer. This success underscores the influence of influencer-driven financial ventures in today’s digital era. Nonetheless, potential investors should conduct thorough research and understand the associated risks.
Disclaimer: The content presented here is not intended as investment advice. Investing involves risks, and capital is at risk.