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

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

The current pump pushed DADDY’s market cap above $300 million, in keeping with DEX Screener information. DADDY is at the moment 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, mentioned on June 12 that it discovered “enormous insider buying and selling exercise on $DADDY”

1/ We discovered enormous insider exercise on $DADDY 🚨

Insiders purchased 30% of the provision at launch, earlier than Andrew Tate (@Cobratate) began to put it up for sale on X, and are at the moment 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 put it up for sale on X,” the agency mentioned in a Jun. 12 put up on X.

All of those purchases have been funded by means of Binance, and had “practically similar quantities on the identical time,” Bubblemaps added.

The agency added that it was unable to verify whether or not these purchases belonged to the identical group of buyers, however mentioned “the timing and quantities strongly recommend they do.”

Andrew Tate Says He Will By no means Promote Tokens Despatched To His Deal with

Bubblemaps mentioned 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 assume 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.

Perpetually.

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 assume 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.”