Andrew Tate’s DADDY TATE Coin Collapses to Record Low
Finbold Research reveals that DADDY TATE (DADDY), linked to influencer Andrew Tate, plummets to approximately 0.018, its lowest value since inception. The rapid decline follows a decrease in early speculative interest, making it one of the most discussed celebrity cryptocurrencies in 2024.
Early Success and Current Drop
Launched in June 2024 with significant online promotion by Tate, DADDY initially reached a market cap of around 113 million within the first week, surpassing Iggy Azalea’s MOTHER token, trading at over 0.26. The current valuation signifies a drop of more than 90%, reducing the market cap to about 11 million.
On-chain Activity and Holders
Analysis by Finbold highlights concerns in DADDY’s on-chain activity. Solscan data reveals 599.63 million tokens with 66,304 holders. Notably, there has been a decrease from 68,446 holders on August 15, indicating a loss of over 2,100 wallets in less than three months. Concentration is another trouble spot, with the top 10 wallets holding 18.98% of all tokens, equivalent to 113.8 million DADDY.
Expert Insights
Senior Research Analyst Jordan Major notes that DADDY TATE illustrates the typical life cycle of hype-driven assets, surging on brand recognition but lacking utility or sustained user growth. Finbold’s Head of Content, Diana Paluteder, points out a trend in celebrity-related tokens where initial enthusiasm wanes due to a lack of enduring fundamentals. The decreasing holder count and market cap of DADDY signal a more cautious investor landscape.
Market Trend and Future Prospects
The trend of influencer-backed tokens facing scrutiny for governance transparency and value sustainability aligns with DADDY TATE’s downward trajectory in 2025. Finbold plans to continue monitoring on-chain metrics and market sentiments to gauge DADDY’s future stability.
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