DADDY memecoin craters 97% while Andrew Tate tweets from a Miami cell

Andrew Tate’s DADDY memecoin was trading around $0.007 on Friday. That is more than 97% off its 2024 high.

The influencer posted on X from the Miami cell where US Marshals are holding him. He faces a UK extradition fight.

DADDY craters as its own wallet concentration bites

DADDY lost more than a quarter of its value in the two days following Tate’s arrest. Its market cap has fallen 50% in the past week to less than $5 million. In June 2024, Tate chose the coin as his personal token. It hit a high of about $0.29 that same month.

On July 19, DADDY was trading around $0.0112, down 24% in just one day, with a market cap of around $6.7 million. Trading was thOver 24 hours, only ~$429,000 was traded, enough that even small sell orders push the price hard. The token was already down 96% from its June 2024 high of $0.2886, and not far from its all-time low of $0.0045.

Blockchain analytics firm Bubblemaps has found that 40% of the total supply went directly to Tate’s wallet from DADDY’s deployer. Cryptopolitan reported about this concentration as far back as November 2024, as the token was already declining on news of a hack at Tate’s Online University.

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