Sam Cooling
Last updated:
June 13, 2024 at 21:20 GMT+3
| 3 min read
In the latest headline-grabbing stunt by the controversial influencer Andrew Tate, a new meme coin called Daddy token has fired up into over $300 million market cap.
This article will analyze DADDY’s current price trends in light of insider dumping by the B-List Brawler, and look to see whether a newer project with genuine developers, PlayDoge, represents a more promising investment opportunity.
Yet, with this coin standing as just another example of a celebrity’s dwindling moment of fame being exploited for quickfire profits from their closest fans, Tate’s family name now joins the ranks of fellow washed-up celebrities such as Iggy Azalea, Lil Yachty, and Rich the Kid.
Despite tapping into Tate’s followers’ obvious ‘Daddy Issues’ to manipulate fans’ goodwill from the start, the scale of insider dumping activity on Tate’s loyal army of teenage boys has still shocked the crypto community.
Andrew Tate Sells-Out: DADDY Price Dumps As Insiders Rinse War Room And Leave Tate Fans Rekt.
As price action tumbles amid a realization amongst holders that this is, in fact, a classic scam, Andrew Tate’s DADDY Coin is currently trading at a market price of $0.242 (representing a 24-hour change of +30.76%).
This comes as DADDY price tumbles down from its all-time high at $0.3655, which amid insider selling, triggered the beginning of the end for this short-lived Solana meme coin.
So far, a -42% retracement has swept into the chart, and desperate ranks of more than 18,880 holders are now attempting to mount a defense at the convergence between a lower support level and the lower trendline.
Therefore $0.22-$0.25 forms a critical level for DADDY price, with everything to play for, as a downtick from here would trigger a capitulative bleed-out.
Indeed, with allegations of insider dumping already fuelling the sell-off, it’s difficult to imagine where upside momentum could come from.
Whilst the ever-benevolent scammer Tate has offered to burn around $100 million of the token, this still appears to be a late-stage token move, and could indicate his anticipation of the sell-pressure to come.
After all, with a present market cap at $233M, and lacking the genuine meme power that creates giants, the value-proposition to late-entrants remains mediocre at...
https://cryptonews.com/news/daddy-tok...
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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
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bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple
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