As a researcher with a background in the cryptocurrency market, I find the recent developments surrounding meme coins DADDY and MOTHER quite intriguing. Both projects have experienced remarkable price increases within a short time frame, with DADDY witnessing a 400% daily surge after endorsements from Andrew Tate and MOTHER rising by 700% in just 30 days following its launch by Iggy Azalea.
TL;DR
- Meme coin DADDY saw a 500% increase after endorsements from Andrew Tate. It is surrounded by controversy over insider holdings.
- MOTHER, launched by Iggy Azalea, rose 700% in 30 days despite criticism from Ethereum co-founder Vitalik Buterin.
DADDY on the Move
Despite the recent market downturn, the cryptocurrency sector has experienced significant growth this year. Many major cryptocurrencies have reached new record highs in the past few months. The niche of meme coins has fueled this excitement as it is home to tokens that undergo massive price hikes within a short time frame. The latest buzz is around DADDY, which is built on the Solana platform.
As a researcher studying the cryptocurrency market, I came across a meme coin that emerged in early June. At first, its price growth was modest. Yet, something significant happened on June 13 – multiple endorsements from Andrew Tate, a renowned former kickboxer and current social media sensation, sent its price soaring.
In one of his recent social media updates, he disclosed his intention to help overthrow “MOTHER” (a rival meme coin) by supporting “DADDY.” This action, he explained, is in the name of upholding the patriarchy. Additionally, he declared that he will destroy his existing holdings, asserting that he seeks disorder rather than financial gain.
Daddy hit a new Athletic Hour price of around $0.36 several hours ago, according to DexScreener’s information, but has since retreated to approximately $0.25 currently. This represents a significant gain of over 4x from its previous value on a daily basis.
It is interesting to note that the meme coin became the subject of huge controversy after crypto analytics firm Bubblemaps maintained that insiders purchased 30% of the supply at launch. The entity further stated that Andrew Tate received 40% of all DADDY tokens, which are currently worth more than $100 million.
Recently, a well-known figure on social media launched his own meme coin named RNT. The value of this coin reached an all-time high of more than $0.05 on June 5. However, it experienced a significant decline in the subsequent days and now hovers around $0.013 according to CoinMarketCap’s records.
As a researcher studying the cryptocurrency market, I was taken aback when I learned about Tate’s decision to introduce a meme coin, given his earlier stance that he would never be involved in creating a cryptocurrency.
How’s MOTHER Doing?
As a crypto investor, I’ve noticed that the meme coin endorsed by Australian model and rapper Iggy Azalea has seen an impressive surge in value. In just 30 days, it reached an all-time high (ATH) of $0.23 on June 6, representing a massive 700% increase. Currently, the coin hovers around the $0.16 mark, while its market capitalization is approximately $155 million.
Just like Daddy’s actions raised some questions, Mother elicited similar reactions. Vitalik Buterin, one of Ethereum’s co-founders, voiced criticism among the skeptics.
I’ve been quite disappointed with the celebrity experiments during this cycle so far. Among them, Ashton and Mila’s Stoner Cats stood out as a more reputable endeavor. At least, there was a legitimate show being produced in contrast to the current era of celebrity meme coins.
Read More
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- AEVO PREDICTION. AEVO cryptocurrency
- REF PREDICTION. REF cryptocurrency
- COW PREDICTION. COW cryptocurrency
- STARL PREDICTION. STARL cryptocurrency
- MOOV PREDICTION. MOOV cryptocurrency
- USD PLN PREDICTION
- BRG PREDICTION. BRG cryptocurrency
2024-06-13 14:30