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DADDY Token Promoted By Andrew Tate Surges 137% Amid Insider Trading Allegations

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Daddy Tate price
Daddy Tate price

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A Solana meme coin by the name of Daddy Tate (DADDY) that’s promoted by controversial social media commentator Andrew Tate surged 137% amid insider trading allegations.

The recent pump pushed DADDY’s market cap above $300 million, according to DEX Screener data. DADDY is currently the top trending Solana token on DEXTools and trades at $0.2582 as of 5.02 a.m. EST.

Why Andrew Tate's Social Media Accounts Are Being Removed ...

Insider Trading Allegations Cloud DADDY

DADDY’s strong performance has been accompanied by controversy after its promotion by Tate, a former professional kickboxer.

Bubblemaps, a crypto analytics firm, said on June 12 that it found “huge insider trading activity on $DADDY”

“Insiders bought 30% of the supply at launch before Andrew Tate started to promote it on X,” the firm said in a Jun. 12 post on X. 

All of these purchases were funded through Binance, and had “nearly identical amounts at the same time,” Bubblemaps added.

The firm added that it was unable to confirm whether these purchases belonged to the same group of investors, but said “the timing and amounts strongly suggest they do.”

Andrew Tate Says He Will Never Sell Tokens Sent To His Address

Bubblemaps said a small concentration of wallets hold one-fifth of DADDY’s supply and warned that if those wallets started selling it “could crash” the crypto’s liquidity.

Tate has not yet touched the 40% chunk of the supply that he holds.

“Scamming jeets dont trust anyone because they think everyone is a scammer jeet like them,” Tate posted in response to the allegation.

He added that he has no intention of selling tokens that were sent to his wallet, and that he “will only burn or buy.”

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