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A Solana meme coin by the title of Daddy Tate (DADDY) that’s promoted by controversial social media commentator Andrew Tate surged 137% amid insider buying and selling allegations.
The latest pump pushed DADDY’s market cap above $300 million, in response to DEX Screener knowledge. DADDY is presently the highest trending Solana token on DEXTools and trades at $0.2582 as of 5.02 a.m. EST.
Insider Buying and selling Allegations Cloud DADDY
DADDY’s robust efficiency has been accompanied by controversy after its promotion by Tate, a former skilled kickboxer.
Bubblemaps, a crypto analytics agency, stated on June 12 that it discovered “large insider buying and selling exercise on $DADDY”
1/ We discovered large insider exercise on $DADDY 🚨
Insiders purchased 30% of the provision at launch, earlier than Andrew Tate (@Cobratate) began to advertise on X, and are presently sitting on $45M+
A thread 🧵 ↓ pic.twitter.com/UyB4SpAs9Z
— Bubblemaps (@bubblemaps) June 12, 2024
“Insiders purchased 30% of the provision at launch earlier than Andrew Tate began to advertise on X,” the agency stated in a Jun. 12 submit on X.
All of those purchases have been funded by means of Binance, and had “almost an identical quantities on the identical time,” Bubblemaps added.
The agency added that it was unable to substantiate whether or not these purchases belonged to the identical group of traders, however stated “the timing and quantities strongly counsel they do.”
Andrew Tate Says He Will By no means Promote Tokens Despatched To His Deal with
Bubblemaps stated a small focus of wallets maintain one-fifth of DADDY’s provide and warned that if these wallets began promoting it “may crash” the crypto’s liquidity.
Actual Gs know that their cash is secure with an actual G.
Scamming jeets dont belief anybody as a result of they suppose everyone seems to be a scammer jeet like them.
You see your self in others.
I’ll by no means promote what was despatched to my pockets, I’ll solely burn and purchase.
Without end.
Diamond palms. https://t.co/E0qHIa0Bt3
— Andrew Tate (@Cobratate) June 12, 2024
Tate has not but touched the 40% chunk of the provision that he holds.
“Scamming jeets dont belief anybody as a result of they suppose everyone seems to be a scammer jeet like them,” Tate posted in response to the allegation.
He added that he has no intention of promoting tokens that have been despatched to his pockets, and that he “will solely burn or purchase.”
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