Andrew Tate’s crypto crashes over 70% this year 
Cryptocurrency Nov 29, 2024 Share
Though it started out relatively strong and hit a market capitalization of $120 million already in June, Andrew Tate’s meme coin Daddy Tate (DADDY) has fallen on hard times, much like the influencer behind it.
Specifically, the cryptocurrency has collapsed 70.51% in value since launch, and, at its press time price of $0.06988, it is more than 73% below its all-time highs (ATH), per data retrieved from CoinMarketCap on November 29.
DADDY TATE all-time price chart. Source: CoinMarketCap
A watershed moment for the meme coin came early in November when the popular digital detective and YouTuber Stephen Findeisen, better known as Coffeezilla, published a video investigation of Andrew Tate’s cryptocurrency dealings.
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Is Andrew Tate a cryptocurrency grifter?
Specifically, Findeisen accused Tate of pivoting from describing digital assets as scams and pledging never to defraud his audience with cryptocurrencies to actively promoting – for monetary compensation – numerous projects that plunged soon after the active advertising stage ended.
The YouTuber also pointed out such behavior is something of an Andrew Tate staple as the influencer also began his online career in earnest by running a pornographic webcam business and then pivoting to naming pornography as one of the great banes of Western civilization.
While people are permitted to change their opinions, Tate’s audience doesn’t appear to believe this was the case with the influencer’s pivot to cryptocurrency. Specifically, he called on his followers to bully Coffeezilla via email, and one was even very upfront about what they believed was going on, saying:
Coffeebreaks, it’s nothing personal but I really want Andrew to raise the price of Daddy’s coin, and he said he’s going to pump money into the coin for everyone who called you a [redacted]. Trust me it’s nothing personal but I’ve bought a lot of the coin and I have to do this so forgive me…
The Andrew Tate human trafficking case and DADDY meme coin
Still, DADDY meme coin’s fall from grace can’t be attributed to Coffeezilla’s video entirely. Such cryptocurrencies are generally in a perpetual cycle of waxing and waning – though most eventually just wane – and few that survive the initial pump become mainstays of the market.
Andrew Tate’s generally controversial personality could have also contributed to the decline in DADDY’s price. For example, while it appeared he managed to defend himself from Romanian police for a time, the case was restarted in 2024, likely further souring the influencer’s reputation.
That said, Romanian courts ordered the removal of some evidence after finding irregularities in the investigation and gave prosecutors a five-day deadline to decide whether to pursue the case further.
Though Andrew and his brother Tristan Tate celebrated the event as a major victory and the deadline has elapsed by November 29, there are no reputable English-language sources on subsequent developments at press time.
Finally, while meme coins always have a chance of rebounding and the final confirmation that Andrew Tate is out of the woods legally, it is worth pointing out that the history of the influencer’s involvement with digital assets – as described by Coffeezilla following his investigation – positions DADDY as an exceptionally risky bet.
Featured image via Shutterstock