DADDY Meme Coin Dives 40 Percent Following Andrew Tate Arrest

The DADDY meme coin experienced a significant price drop after influencer Andrew Tate was detained in Miami on July 19. British authorities issued 38 new criminal counts against him and his brother Tristan, including allegations of human trafficking and sexual exploitation. Since the arrest, the token price has plummeted by roughly 40 percent.

The coin is currently trading at approximately $0.0092. Its total market value has also taken a hit, falling from $8 million to less than $5 million. This decline highlights how sensitive meme tokens are to the personal circumstances and social media activity of the figures who promote them.

Initially launched as a rival to the Iggy Azalea backed MOTHER token, DADDY previously saw a massive surge in popularity, once reaching a market capitalization near $100 million. However, the token lacks fundamental utility and relies heavily on speculative social media hype. With legal pressures mounting for Tate, investors are watching to see if the coin can maintain any remaining value.