Only a yr after disavowing crypto, former kickboxer and social media character Andrew Tate started a meme coin spending spree late final week, shilling various tokens within the course of. The most recent token he’s endorsed has skyrocketed previous a $275 million market cap, however on-chain analysts are alleging vital insider exercise forward of the surge.
DADDY is the most recent in a line of tokens that self-proclaimed misogynist Tate has publicly supported. Tate claims to have chosen DADDY as a direct rival to Iggy Azalea’s MOTHER token in an try and, as he put it, “flip it for the patriarchy.”
Since launching on June 9, the Solana-based DADDY token climbed in worth—but it surely wasn’t till Tate began selling the challenge that it actually began to leap. On Tuesday afternoon, Tate posted his first tweet referencing the token earlier than actively shilling the challenge within the early hours of Wednesday morning.
In consequence, the Solana token is up over 450% to a value of $0.28 over the previous 24 hours. However crypto analytics startup Bubblemaps has referred to as foul play, claiming that a big portion of the availability was purchased at launch with extra being bought earlier than Tate promoted it on Twitter.
Bubblemaps claims that shortly after the token launched, the creator of DADDY despatched Andrew Tate’s public pockets 40% of the availability, whereas Tate later purchased and burned an extra $10,000 value of tokens. However, as proclaimed by Tate himself, he didn’t promote any tokens.
As an alternative, practically 20% of the entire provide was snatched up by simply 11 wallets funded by Binance, all earlier than the meme coin posted on its Twitter account for the primary time. Bubblemaps can not affirm the supply of those wallets, however the agency believes the timing and quantity purchased “strongly counsel” all of them come from the “similar group.”
“These wallets maintain ~19% of the entire provide, value $30 million on the present value,” Bubblemaps mentioned on Twitter early Wednesday, forward of the most recent positive aspects. “One pockets promoting might crash the liquidity.”
Along with this group, the analytics agency highlighted one other cluster of wallets that holds 10% of the availability, all purchased earlier than Tate’s first tweet, which Bubblemaps mentioned has apparently been making an attempt to cowl its tracks by splitting funds into separate wallets.
For now, Tate claims that he gained’t promote any crypto tokens—going so far as to publicly denounce crypto once more on Twitter. That mentioned, there’s nothing stopping him from promoting his over $100 million share of DADDY tokens that make up 40% of the entire provide.
“Actual Gs know that their cash is secure with an actual G,” Tate tweeted in response to considerations, as fears circulated that he might dump on buyers. “I’ll by no means promote what was despatched to my pockets, I’ll solely burn and purchase.”
Not all of Twitter purchased his promise as pseudonymous crypto influencer Ansem—who had beforehand slammed Tate, difficult him to a boxing combat—accused him of proudly owning the wallets with suspicious exercise. Tate’s response to those critical accusations was merely, “Shut up hoe.”
This all comes amid the Tate’s path for alleged human trafficking and rape in Romania. Extra just lately, in March, British authorities issued a separate arrest warrant for Andrew Tate and his youthful brother Tristan on costs associated to rape and sexual assault. Romanian authorities agreed to extradite the influencer solely after the conclusion of his trial of their nation.
Tate is at present in Romania awaiting trial. He’s barred from leaving the nation.
Edited by Andrew Hayward
Disclaimer
The views and opinions expressed by the writer are for informational functions solely and don’t represent monetary, funding, or different recommendation.
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