Andrew Tate’s DADDY memecoin has plunged roughly 97% since its peak earlier this year, now trading near $0.008 with a market cap below $5 million. The influencer’s ongoing legal battles in a Miami detention center have become the main factor influencing the token, overshadowing any blockchain activity, as only a small number of holders remain active.
The token was around $0.007 on Friday, a steep drop from its June 2024 high of about $0.29. Immediately after Tate's arrest, DADDY lost over 25% of its value within two days, and its market capitalization halved in the past week. Trading volumes are thin, with only around $429,000 changing hands over 24 hours, making the price sensitive to even minor sell-offs.
Blockchain analysis reveals that 40% of the total DADDY supply is held in Tate’s wallet, highlighting extreme token concentration. This factor has exacerbated the token’s decline, especially after news broke of a hack linked to Tate’s Online University in late 2024, which already weighed on price performance.
Other memecoins associated with the Tate brothers have suffered similar collapses amid the 2024 celebrity token craze. For example, TOPG, another purported Tate token possibly without authorization, is down 99.8% from its June peak and trades with less than $200 in daily volume. Likewise, Tate Terminal (TATE) has plunged over 99% since October, even though Andrew Tate had promised to hold his airdrop, which he sold for about $23,000.
Meanwhile, Tate and his brother Tristan, 39 and 38 respectively, were arrested recently by US Marshals under a sealed warrant tied to extradition proceedings to the UK. Reports confirmed that Andrew Tate was tweeting from a Miami jail cell where he awaits his extradition hearing.
