2024

Memecoin

Tate

Daddy Tate

<p>The post <a href="https://coinpedia.org/news/memecoin-madness-daddy-tate-daddy-sees-5-6m-profit-in-insider-trading/">Memecoin Madness: Daddy Tate (DADDY) Sees $5.6M Profit in Insider Trading&nbsp;</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The latest memecoin mania has introduced a new player in the crypto world, with the recent launch of the Daddy Tate (DADDY) token. Promoted by controversial figure and former kickboxer Andrew Tate, this Solana-based token has quickly caught the eyes of investors.&nbsp;</p> 
<p>While the hype around this memecoin has been growing, recent insider trading activities have shed light on <a href="https://coinpedia.org/crypto-live-news/daddy-token-surges-450-after-andrew-tates-endorsement/">significant gains</a> made by early investors.</p> 
<h2 class="wp-block-heading" id="h-insider-trading-activities-nbsp">Insider Trading Activities&nbsp;</h2> 
<p>Prominent blockchain analytical firm Lookonchain has revealed significant insider trading activity involving Daddy Tate (DADDY) tokens. According to their analysis, an insider sold 15.14 million $DADDY tokens for 11,752 $SOL, equivalent to $1.74 million. Initially, the cost of acquiring these tokens was less than $2,000, resulting in a massive profit.</p> 
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   <p lang="en" dir="ltr">2/ Before <a href="https://twitter.com/DaddyTateCTO?ref_src=twsrc%5Etfw">@DaddyTateCTO</a> published his first post, the insider spent only 13.2 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($1,950) to buy 29.8M <a href="https://twitter.com/search?q=%24DADDY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DADDY</a> via 3 wallets.<br><br>Then he sold a small portion and transferred most of it through multiple addresses multiple times, finally flowing to "DpL2Tm".<a href="https://t.co/n64QYGsgqV">https://t.co/n64QYGsgqV</a> <a href="https://t.co/oZzG5lb4Am">pic.twitter.com/oZzG5lb4Am</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1801460605939028002?ref_src=twsrc%5Etfw">June 14, 2024</a>
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<p>The insider’s journey began with purchasing 29.8 million DADDY tokens for 13.2 SOL (around $1,950) across three different wallets.</p> 
<p>Before the official promotion by DaddyTateCTO, the insider strategically sold a small portion of their holdings and transferred most of the remaining tokens through multiple addresses. The insider then sold a small portion and transferred the majority of the tokens through multiple addresses, eventually, these tokens ended up in the “DpL2Tm” wallet.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-rapid-sell-off-resulted-in-5-6m-profit">Rapid Sell-off: Resulted In $5.6M Profit</h2> 
<p>Just 18 hours ago, the insider transferred a large amount of $DADDY to new wallets and began selling. In total, the insider sold 15.14 million $DADDY for 11,752 $SOL ($1.74 million).&nbsp;</p> 
<p>Despite the sell-off, the insider still holds 14.7 million $DADDY tokens, currently valued at $2.8 million. This entire sequence of transactions has resulted in a total profit of $5.6 million, translating to a 2,875x return on the initial investment.</p> 
<h2 class="wp-block-heading" id="h-tate-buring-daddy-token-nbsp">Tate Buring Daddy Token&nbsp;</h2> 
<p>In another mindblowing finding, Bubblemaps, an on-chain analytics platform, reports that insiders now control a significant portion of the meme coin’s circulating supply, valued at over $45 million out of a total of 1,000,000 tokens.</p> 
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   <p lang="en" dir="ltr">2/ On June 9th at 21:24 UTC, <a href="https://twitter.com/DaddyTateCTO?ref_src=twsrc%5Etfw">@DaddyTateCTO</a> sent 40% of the <a href="https://twitter.com/search?q=%24DADDY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DADDY</a> supply to <a href="https://twitter.com/Cobratate?ref_src=twsrc%5Etfw">@Cobratate</a>.<br><br>Andrew Tate later bought and burnt $10k worth of tokens<br><br>This is verifiable on-chain:<a href="https://t.co/05HfS1Idyg">https://t.co/05HfS1Idyg</a></p>— Bubblemaps (@bubblemaps) <a href="https://twitter.com/bubblemaps/status/1800845714135924773?ref_src=twsrc%5Etfw">June 12, 2024</a>
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<p>The platform also noted that, at launch, the deployer address of the <a href="https://x.com/bubblemaps/status/1800845714135924773" target="_blank" rel="noreferrer noopener nofollow">memecoin sent 40% of the token</a> supply to Andrew Tate. Tate positions DADDY as a cultural revolution and desires to reach a $1 billion market cap.&nbsp;</p> 
<p>He has claimed that he would publicly burn all his tokens once DADDY’s market cap reaches a point where his 40% stake is worth $100 million.</p> 
<p>DADDY, a Solana-based memecoin, has now reached a market capitalization of $300 million and is currently trading at $0.22, marking a staggering 200% increase in just one day.</p> 
<p>Also Read : <a href="https://coinpedia.org/price-analysis/sell-trade-triggered-for-this-memecoin-can-shibarmy-lift-the-shiba-inu-price-above-bearish-heat/">Sell Trade Triggered for This Memecoin: Can ShibArmy Lift the Shiba Inu Price Above Bearish Heat?</a></p>

Memecoin Madness: Daddy Tate (DADDY) Sees $5.6M Profit in Insider Trading

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