TL;DR

• Meme coin DADDY noticed a 500% enhance after endorsements from Andrew Tate. It’s surrounded by controversy over insider holdings.
• MOTHER, launched by Iggy Azalea, rose 700% in 30 days regardless of criticism from Ethereum co-founder Vitalik Buterin.

DADDY on the Transfer

Regardless of the current market correction, the cryptocurrency sector has rallied considerably for the reason that begin of the yr, with quite a few main property hitting new all-time highs prior to now few months. The meme coin area of interest has contributed to the general frenzy because it is stuffed with tokens that witness double and even triple-digit worth will increase in a brief time period. The most recent sensation is the Solana-based DADDY.

This meme coin noticed the sunshine of day earlier in June and initially charted solely gentle beneficial properties. Nonetheless, its worth skyrocketed on June 13 after a number of endorsements from Andrew Tate, a former kickboxer and present on-line influencer.

In one among his X posts, he revealed supporting DADDY so it may flip MOTHER (one other meme coin) “for the patriarchy.” He additionally promised to burn his stash, claiming that he doesn’t need cash however chaos.

DADDY reached an ATH of $0.36 just a few hours in the past (per DexScreener’s knowledge) earlier than retracing to its present stage of roughly $0.25. This nonetheless represents a whopping 400% enhance on a day by day scale.

It’s attention-grabbing to notice that the meme coin turned the topic of large controversy after crypto analytics agency Bubblemaps maintained that insiders bought 30% of the availability at launch. The entity additional said that Andrew Tate obtained 40% of all DADDY tokens, that are presently price greater than $100 million.

Not way back, the social media character launched his personal meme coin, ticked RNT. Its worth peaked at over $0.05 on June 5 however plummeted within the following days to hit its present mark of $0.013 (per CoinMarketCap’s knowledge).

Some might need considered Tate’s resolution to launch a meme coin as a shock, contemplating his earlier stance that he “won’t ever launch a crypto.”

How’s MOTHER Doing?

This meme coin, introduced by the Australian mannequin and rapper Iggy Azalea, is up 700% on a 30-day foundation, tapping an ATH of $0.23 on June 6. As of the second, it hovers across the $0.16 mark, whereas its market capitalization is round $155 million.

Just like DADDY, MOTHER brought about some folks to boost eyebrows. Ethereum’s co-founder Vitalik Buterin was amongst these criticizing it, saying:

“I’m feeling fairly sad about “this cycle’s superstar experimentation” up to now. (…) Ashton and Mila’s Stoner Cats was vastly extra honorable than something we’ve seen from this 2024 superstar meme coin period – no less than there was an precise present being funded.”