finbold.com
Once touted as the next big thing in the meme token world, Andrew Tate’s “Daddy Tate” cryptocurrency has seen a staggering decline since its launch.
Trading at $0.09411, the token has plummeted 60.28% from its peak, and 39.28% over the last month alone, according to the latest data from CoinMarketCap on November 13.
This drastic fall has sliced Daddy Tate’s market cap from a high of $120 million down to $56 million, with only nine green days out of the past 30—a troubling sign for holders.
Since reaching DADDY’s all-time high of $0.28677 on June 14, 2024, Daddy Tate has been on a downward trajectory, hitting a cycle low of $0.04991 on August 5.
The highest price it achieved since that low was $0.185184, but it appears unable to maintain any significant recovery. This volatility has left many questioning the token’s long-term viability, especially as its market cap continues to erode, despite the broader cryptocurrency market value hitting an all-time high with Bitcoin (BTC) briefly hitting $90,000.
Mommy beats Daddy since launch
In past tweets, Tate himself made bold claims suggesting Daddy Tate would “beat Mommy”—a nod to the rival token “Mother Iggy” (MOTHER).
As of the latest data from Solscan, Daddy Tate boasts a 62,760-strong holder base, though the token distribution remains highly concentrated: 21.89% of the supply is held by just 10 addresses, a slight decrease from the previous 25.36%, indicating a gradual move toward decentralization.
Despite these figures, the overall sentiment remains mixed. DADDY token’s high initial trading volume and rapid accumulation of holders initially signaled strong community backing, yet the token’s steep declines raise questions about its resilience.
As it stands, the token is down 67% from its all-time high, and the path forward may hinge on how Tate and his team manage the current volatility and find ways to reinvigorate interest.
Featured image via Shutterstock