Andrew Tate’s crypto down 50% since June inception
Andrew Tate’s crypto down 50% since June inception 
Cryptocurrency Jul 18, 2024 Share
The former kickboxing star and social media influencer, Andrew Tate, has been increasingly making a foray into the crypto markets in recent months.
The cryptocurrency offensive has been happening in various tones and covering various aspects of the industry. On the one hand, Tate has seemingly declared war on one of the biggest ecosystems – Solana (SOL) – and pledged to crash it.
On the other hand, he has been positive and even – at least rhetorically – maximalist in other areas, such as with his claim that he is abandoning traditional fiat currencies in favor of Bitcoin (BTC).
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I know I’m not supposed to do this in chaotic times but I’m about to leave fiat completely and ape over 100M into btc.
And I’ll even prove I did it.
I’m done with the banks.
I’m done with their money.
Done with the scams.
Then I’m going boating.
— Andrew Tate (@Cobratate) May 15, 2024
Finally, Andrew Tate has also leaped into the world of meme coins with the launch of the self-themed Daddy Tate (DADDY).
DADDY meme coin fails to land on solid ground
Though DADDY has had several notable rallies in its month-long existence, it has, by July 18, failed to find truly solid ground.
Indeed, like many similar coins and tokens, Daddy Tate saw a quick surge after its release, only to experience a profound plunge. The cryptocurrency received another boon only weeks later when Andrew Tate’s long legal struggle with the Romanian authorities apparently came to an end.
The news that the influencer is free to leave the country led to a quick surge sending DADDY from $0.11 to $0.23 within mere days, but the rally was squashed near the same time it was clarified the former kickboxer is still confined to the EU.
In total, Daddy Tate is down 46.63% since it launched in mid-June and its more recent trading hasn’t been substantially more positive as the meme coin is 19.88% in the red in the last 7 days. DADDY’s price today stands at $0.13.
DADDY all-time price chart. Source: CoinMarketCap
Meanwhile the top 10 holders collectively own 145,461,398.91 tokens (24.25%), as per the latest Solscan data.
DADDY distribution pie chart. Source: Solscan
Andrew Tate goes on a promotional offensive for DADDY
Still, July 17 and 18 have seen Andrew Tate make significant efforts to boost his meme coin. The influencer promised in an X post that if his promotional tweets received 5,000 retweets, he would match the biggest DADDY investment, if it was shared 10,000 times, he would double it, and 20,000 would lead to a gift-wrapped Lamborghini.
At press time, the posts stand at 12,000 retweets.
10k Retweets.
Biggest buy so far is 46k
So 46k x 2.
Get 5000 retweets on this ill add another 46k ontop. https://t.co/Qn4jyTtCEQ
— Andrew Tate (@Cobratate) July 17, 2024
Near the same time, the influencer also published a promotional video of himself and his brother – Tristan – gambling. The video caption made an association with DADDY and made the claim that an activity cannot be called gambling as long as the gambler is winning.
At the time of publication, it remains unclear how wise the tagline is, given Daddy Tate’s performance.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
