Early Buyers of Andrew Tate’s DADDY Meme Coin Apparently Sitting on $45M in Unrealized Value

Since Tate-linked wallets haven’t transacted any DADDY tokens since their release on June 9, approximately 30% of the token’s total supply have been bought by other wallets prior to its extensive promotion on X.

On the 9th of June, at 21:24 UTC, @DaddyTateCTO transferred 40% of the $DADDY tokens to @Cobratate, as announced by BubbleMaps. Notably, 11 wallets, which had been previously funded through Binance with nearly identical sums around the same time, purchased 20% of $DADDY on the same day, prior to @DaddyTateCTO’s initial tweet about the transaction.

Approximately 10% of a token’s total supply is held in two other clusters monitored by Bubblemaps, equivalent to around $30 million based on present market values.

As a crypto investor, I’m currently unable to fully cash out my positions due to the limited availability of liquidity in the token trading pools, which amounted to approximately $2.4 million as of Thursday.

At present values, the tokens in Tate’s personal wallet amounting to $65 million have yet to be traded.

As a researcher investigating this emerging development, I’ve uncovered an intriguing connection: This crypto token marks the first known involvement of the contentious social media personality. Remarkably, following the announcement of this association, the token’s market capitalization surged to a staggering $240 million within mere days of its launch. Data from DEXTools reveals a 55% price increase over the previous 24 hours.

As a researcher studying the meme coin ecosystem, I’ve noticed that DADDY is the latest addition to the list of celebrity-supported tokens gaining popularity. Unlike past instances where celebrities merely endorsed projects or protocols, they are now directly involved in issuing, backing, and promoting these tokens, primarily on platform X.

In May, American media figure Caitlyn Jenner, along with rappers Iggy Azalea, Trippie Redd, Lil Pump, and Davido, unveiled their tokens via the Solana-powered Pump Fun platform. However, the value of most of these launches has plummeted approximately 90% from their peak prices.