Andrew Tate, a former kickboxer and social media personality, is recognized for his dedication to investing in specific digital assets and his involvement in the cryptocurrency sector.
Tate recently disclosed his intention to allocate $1 million to the Daddy Tate (DADDY) coin upon attaining 10 million followers on the X social media platform.
The Solana (SOL)-based meme coin has experienced short-term growth as a result of Tate’s expanding follower base, which is presently in the vicinity of 9.9 million.
Tate has recently been actively promoting DADDY, which includes the destruction of over $150 million of the token to influence its supply and value, over the past few months.
The anticipated investment by Tate will make a substantial contribution to the utility of DADDY, which he has pledged to increase to $1 billion in market capitalization.
In the aftermath of allegations that Tate engaged in insider trading in connection with DADDY, this prospective $1 million acquisition is being considered. Tate’s wallet was associated with the purchase of 30% of the total supply by insiders at the time of inception.
The token ecosystem is notably expanding its utility, which includes the anticipated implementation of staking. Users can further enhance the functionality of the coin by staking their tokens in exchange for TRW tokens.
Furthermore, Tate intends to integrate DADDY with his Real World University, providing exclusive access to meme coin holders.
DADDY, like other meme currencies, is the subject of controversy among a small number of investors with respect to token distribution. The top ten accounts possess more than 22% of the token’s supply, according to data from Solscan as of August 26.
In the past, Tate has expressed his dissatisfaction with the conventional finance system, which led him to pledge to convert $100 million in fiat currency into Bitcoin (BTC).
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