Social media personality and former kickboxer Andrew Tate is known for his involvement in the cryptocurrency sector and commitment to making further investments in select digital assets.
In his latest move, Tate announced plans to invest $1 million in Daddy Tate (DADDY) coin once he reached 10 million followers on the X social media platform.
Once im at 10,000,000 followers Im going to buy 1,000,000 USD of $Daddy coin. https://t.co/rSKzPMrrOo
— Andrew Tate (@Cobratate) August 24, 2024Tate’s growing follower base, currently around 9.9 million, has contributed to the short-term growth of the Solana (SOL)-based meme coin.
DADDY token distribution. Source: Solscan
Elsewhere, Tate has previously expressed his dissatisfaction for the traditional finance system, prompting him to make a commitment to convert $100 million worth of fiat currency into Bitcoin (BTC).
DADDY price analysis
Overall, DADDY has experienced significant volatility but recently showed bullish momentum, breaking above key resistance levels.
As of press time, the token was valued at $0.093, reflecting a weekly growth of about 28%. On the daily chart, DADDY is up 15%.
DADDY seven-day price chart. Source: CoinMarketCap
In the meantime, with the meme coin still lacking key fundamental drivers of price growth, DADDY investors will rely on overall market trends and hope that Andrew Tate and his brother Tristan Tate avoid further legal troubles in Romania.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
