DADDY Token Drops 26% After Andrew Tate Arrest

The DADDY meme coin saw its price slide by 26 percent over the last two days. The token fell from roughly 0.0147 dollars to 0.0108 dollars by July 20. This drop follows a volatile month for the asset, which had briefly climbed toward 0.03 dollars earlier in July before starting its current descent on July 18.

The decline coincided with the arrest of Andrew and Tristan Tate. Authorities detained the brothers after a prosecutor in the United Kingdom moved forward with serious charges, including multiple counts of rape and human trafficking. British officials are now seeking to extradite the brothers to face these allegations, which reportedly stem from actions occurring between 2010 and 2017.

This market reaction adds to a difficult period for the Tate brothers regarding their crypto holdings. The DADDY token has struggled for much of its existence, currently sitting down over 95 percent from its all time high. Traders should monitor the situation closely, as the ongoing legal uncertainty and the high volatility of influencer led tokens often lead to sudden price shifts.