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The Daddy Tate price soared 23% in the last 24 hours to trade at $0.0964 as of 5.15 a.m. EST on trading volume that dropped 68% to $4.8 million.
The token first launched last month. Initially, the meme coin’s price skyrocketed. However, after a recovery in early July, it started spiraling down until early August. Since then, it has remained relatively flat until recently.
DADDY was inspired by Andrew Tate, who recently announced plans to invest $1 million in the meme coin after reaching 10 million followers on X. This was part of a campaign to expand his reach and influence on the platform. Tate is known for his controversial online presence, but over time, he started getting more involved in the crypto space in an attempt to promote the Solana-based meme coin and push its market cap to $1 billion.
Once im at 10,000,000 followers Im going to buy 1,000,000 USD of $Daddy coin. https://t.co/rSKzPMrrOo
— Andrew Tate (@Cobratate) August 24, 2024
Tate also burned over $150 million of DADDY tokens earlier this year in an attempt to reduce the supply and pump the token’s value.
Daddy Tate Price Prediction
The Daddy Tate price has been seeing a steady rise over the past day and a half. While it often encountered resistances that would initially cause minor rejections, the token would return and break them, only to rise to the next one and repeat the process.
Recently, the token saw its Bollinger Bands widen, which is a bullish signal that suggests an additional increase may be expected. This is further encouraged by the fact that the token’s price is pushing the upper band further up.
On the other hand, the token’s Relative Strength Index (RSI) value has been pushing higher and higher up, until it reached the overbought area. For a lot of traders, this is a very strong bearish signal, which could cause them to start selling. With the crypto industry’s high volatility, the DADDY token price could go either way.
Tate’s encouragement of buyers could be enough to help the token push higher in terms of value, while its RSI continues to delve deeper into the overbought zone. However, it will ultimately depend on how traders react in the short term. If a correction is to come, it might happen within the next few hours. That means that anyone who holds or plans to buy Daddy Tate tokens in the near future should be extremely cautious.
Promising Alternative To Daddy Tate
For those who are looking for an alternative to the Daddy Tate token, consider buying Crypto All-Stars (STARS) — a newly launched meme coin presale that seeks to connect the meme coin sector and revolutionize staking at the same time.
The project came out with an alternative smart contract for staking that, unlike others, does not limit the user to only its native cryptocurrency. Instead, it allows users to stake most major meme coins. It is known as MemeVault, and it supports the likes of Dogecoin, Pepe, Floki, Milady, Brett, Turbo, and many more, with the potential to expand its list further in days to come.
The MemeVault technology represents a major leap in the staking sector, and its goal is to enable meme coin staking under Crypto All-Stars’ umbrella. By making it possible to stake all the different meme coins in the same place, the project intends to promote unity among meme coins. At the same time, it will place itself at the center of it all.
Its ICO has been extremely successful, raising over $769k in only a little over a week, while its native STARS token currently sells for only $0.0014078 apiece. STARS can be bought using ETH, USDT, BNB, or credit/debit cards.
It is still fairly early in its ICO, so buying its token now before its price gets pumped through scheduled price boosts could be beneficial to investors. It is also worth noting that a popular crypto YouTuber, ClayBro, recently speculated that the project offers a 29x opportunity, and that it should not be missed by opportunity seekers.
Purchase STARS on its official website here.
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