DADDY Vs. linked to Andrew Tate. Iggy Azalea’s MOTHER

TL;DR

Meme DADDY coin saw a 500% increase after Andrew Tate endorsements. It is surrounded by controversy over privileged holdings. MOTHER, launched by Iggy Azalea, surged 700% in 30 days despite criticism from Ethereum co-founder Vitalik Buterin.

DADDY on the move

Despite the recent market correction, the cryptocurrency sector has recovered substantially since the start of the year, with many leading assets hitting new all-time highs in recent months. The meme coin niche has contributed to the general frenzy as it is full of tokens witnessing double and even triple digit price increases in a short period of time. The last sensation is Solana’s DADDY.

This meme coin saw the light of day in early June and initially saw only mild gains. However, its price skyrocketed on June 13 after multiple endorsements from Andrew Tate, a former kickboxer and current online influencer.

In one of his X posts, he revealed that he supports DADDY so he can launch MOTHER (another meme coin) “for the patriarchy”. He also vowed to burn his deposit, claiming he doesn’t want money but chaos.

DADDY hit an ATH of $0.36 a few hours ago (according to DexScreener data) before returning to its current level of around $0.25. That still represents a 400% increase on a daily basis.

It is interesting to note that the meme coin became the subject of a huge controversy after crypto analytics firm Bubblemaps claimed that experts bought 30% of the supply at launch. The entity further stated that Andrew Tate received 40% of all DADDY tokens, which are currently worth over $100 million.

Not long ago, the social media personality introduced his own meme currency, branded RNT. Its price peaked above $0.05 on June 5, but plummeted in the following days to its current mark of $0.013 (according to CoinMarketCap data).

Some might have seen Tate’s decision to launch a meme coin as a surprise, given his previous stance that he will “never launch a crypto”.

How is MOTHER?

This meme coin, touted by Australian model and rapper Iggy Azalea, is up 700% in 30 days, reaching an ATH of $0.23 on June 6. It currently stands at around $0.16, while its market capitalization is around $155 million.

MOTHER Price, Source: CoinMarketCap

Similar to DADDY, MOTHER raised some eyebrows. Ethereum co-founder Vitalik Buterin was among those who criticized it, saying:

“I’m feeling pretty unhappy about the ‘celeb experimentation this cycle’ so far. (…) Ashton and Mila’s stoner cats were far more honorable than anything we’ve seen since this era of coins of celebrity memes in 2024; at least there was an actual show funded.”

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