# DADDY TATE

> Daddy Tate (DADDY) is a Solana memecoin launched by social influencer Andrew Tate in June 2024.

- Canonical URL: https://iq.wiki/wiki/daddy-tate
- Categories: Cryptoassets
- Tags: Memecoin
- Created: 2024-06-14T11:13:47.249Z
- Last updated: 2024-07-26T17:34:41.988Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**The $DADDY memecoin**, also known as Daddy Tate, is a [Solana](https://iq.wiki/wiki/solana)-based token promoted by the controversial social media influencer Andrew Tate. Launched on June 9, 2024, it gained attention and reached a market capitalization of $240 million within three days. [\[1\]](#cite-id-opu3n8qph3o)[\[2\]](#cite-id-z3v5jgv61ij)  
  
# Overview  
  
Upon the token launch, Andrew Tate announced his support for the DADDY memecoin, attempting to challenge rapper Iggy Azalea's newly launched memecoin [MOTHER](https://iq.wiki/wiki/mother-memecoin). [\[3\]](#cite-id-a8funupyo4)  
  
On why he chose this project, he responded:  
  
> “I’m doing this for three reasons. One is the culture. The second reason I’m doing this is because it’s f\*\*\*ing hilarious. I load up Twitter, I see some coin, I see someone right underneath it, ‘Bet my house on this coin, this one is going to work’, and then I FUD it.” He added that the third reason is because it’s a “unique experience.” - he said on a livestream with Rumble[\[8\]](#cite-id-v87l2k5csd)  
  
He mentioned his plan to burn all his DADDY tokens, aiming for a minimum of $100 million in value. [\[3\]](#cite-id-a8funupyo4)[\[5\]](#cite-id-tquu8w3on3p)  
  
> Im the $DADDY.  
> 200Mil market cap.  
> Im going to burn all of this shit live on Rumble.  
> My last burn was 37million dollars.  
> But now I refuse to burn less than 100million dollars.  
> No brokey burns.  
> Top G.  
> Built different. - he tweeted on June 12, 2024[\[4\]](#cite-id-5r6bqb36vs)  
  
In a live stream Inside The Real World, Tate burned $100+ million worth of $DADDY with the aim to boost demand and increase the coin's market value to $1 billion as promised. [\[9\]](#cite-id-kbvhkd2knji)  
  
> “The burning was just the beginning of the crypto revolution.” - Andrew Tate said in an X space[\[9\]](#cite-id-kbvhkd2knji)  
  
## Controversy  
  
On June 7, 2024, Andrew Tate announced on X that he had [burned](https://iq.wiki/wiki/token-burn) over $10 million worth of Solana-based TOPG tokens. Tate received over 580 million TOPG tokens as a donation from an unnamed source. He stated that his intention behind burning the tokens was to cause chaos in the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) community, stating, "It's not about money. It's about sending a message." [\[3\]](#cite-id-a8funupyo4)  
  
On June 12, 2024, [Blockchain](https://iq.wiki/wiki/blockchain) data platform [Bubblemaps](https://iq.wiki/wiki/bubblemaps) highlighted suspicious insider activities surrounding the DADDY token. According to their report, insiders purchased 30% of the $DADDY supply at launch before Tate began promoting it on social media, and these insiders hold over $45 million worth of tokens. [\[3\]](#cite-id-a8funupyo4)  
  
> “On June 9th at 21:24 UTC, @DaddyTateCTO sent 40% of the $DADDY supply to @Cobratate,” (Tate's official X account) BubbleMaps posted. But here's the catch: 11 wallets, funded through Binance with nearly identical amounts at the same time, bought 20% of $DADDY on June 9th, before @DaddyTateCTO's first tweet.”[\[7\]](#cite-id-vhvr0rxuxfo)  
  
Additional transactions imply significant token purchases by wallets before the public announcement, raising concerns about market liquidity and integrity. Following this post, Tate blocked Bubblemaps on the X platform. [\[10\]](#cite-id-7dq43yxmv93)  
  
> "While Cobratate hasn’t sold his tokens, insiders seem to be active on $DADDY and are trying to cover their tracks. One of these wallets could nuke the liquidity pool.” - Bubblemaps warned[\[10\]](#cite-id-7dq43yxmv93)