Battle of Controversial Meme Coins: Andrew Tate-Linked DADDY Vs. Iggy Azalea’s MOTHER

TL;DR

• Meme coin DADDY saw a 500% increase after endorsements from Andrew Tate. It is surrounded by controversy over insider holdings.
• MOTHER, launched by Iggy Azalea, rose 700% in 30 days despite criticism from Ethereum co-founder Vitalik Buterin.

DADDY on the Move

Despite the recent market correction, the cryptocurrency sector has rallied substantially since the start of the year, with numerous leading assets hitting new all-time highs in the past few months. The meme coin niche has contributed to the overall frenzy since it is full of tokens that witness double and even triple-digit price increases in a short period of time. The latest sensation is the Solana-based DADDY.

This meme coin saw the light of day earlier in June and initially charted only mild gains. However, its price skyrocketed on June 13 after multiple endorsements from Andrew Tate, a former kickboxer and current online influencer.

In one of his X posts, he revealed supporting DADDY so it can flip MOTHER (another meme coin) “for the patriarchy.” He also promised to burn his stash, claiming that he doesn’t want money but chaos.

DADDY reached an ATH of $0.36 a few hours ago (per DexScreener’s data) before retracing to its current level of approximately $0.25. This still represents a whopping 400% increase on a daily scale. 

It is interesting to note that the meme coin became the subject of huge controversy after crypto analytics firm Bubblemaps maintained that insiders purchased 30% of the supply at launch. The entity further stated that Andrew Tate received 40% of all DADDY tokens, which are currently worth more than $100 million.

Not long ago, the social media personality introduced his own meme coin, ticked RNT. Its price peaked at over $0.05 on June 5 but plummeted in the following days to hit its current mark of $0.013 (per CoinMarketCap’s data).

Some might have viewed Tate’s decision to launch a meme coin as a surprise, considering his previous stance that he “will never launch a crypto.”

How’s MOTHER Doing?

This meme coin, announced by the Australian model and rapper Iggy Azalea, is up 700% on a 30-day basis, tapping an ATH of $0.23 on June 6. As of the moment, it hovers around the $0.16 mark, while its market capitalization is around $155 million.

Similar to DADDY, MOTHER caused some people to raise eyebrows. Ethereum’s co-founder Vitalik Buterin was among those criticizing it,  saying :

“I’m feeling quite unhappy about “this cycle’s celebrity experimentation” so far. […] Ashton and Mila’s Stoner Cats was vastly more honorable than anything we’ve seen from this 2024 celebrity meme coin era – at least there was an actual show being funded.”