Andrew Tate's Daddy Tate Airdrop Fuels Token's 7% Surge, Eyes $6 Million Market Cap

Daddy Tate (DADDY) experienced a 7% surge in price to $0.2075, as Andrew Tate announced an airdrop for DADDY holders, including a token called The Real World (TRW). The celebrity promotes DADDY, which has gained traction within a symmetrical triangle pattern, suggesting a bullish outlook. Technical indicators like RSI and MACD support a positive momentum, with RSI rising towards overbought territory and MACD showing a bullish crossover. Trading volume, however, dropped by 26%.

Andrew Tate, the controversial social media influencer and entrepreneur, announced an airdrop for The Real World (TRW) token, backed by his educational business [1]. This announcement came amidst a surge in DADDY's price, which experienced a 7% increase to $0.2075.

Tate's announcement has generated significant buzz within the DADDY community, with many speculating that the value of TRW is directly linked to his enterprise's profits, reportedly amounting to $20 million monthly [1]. This bullish outlook is further supported by technical indicators.

The Relative Strength Index (RSI) for DADDY has been rising towards overbought territory, suggesting a bullish momentum [2]. Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, indicating a potential trend reversal [2].

However, the trading volume for DADDY has dropped by 26% since the price surge, which could be a cause for concern for some investors [2].

Despite the potential regulatory challenges from the US Securities and Exchange Commission (SEC), Tate expressed confidence in his readiness to handle inquiries [1]. However, concerns about insider activities have been raised by on-chain analytics platforms like Lookonchain and Bubblemaps [1].

Lookonchain highlighted a notable transaction in which an insider sold 15.14 million DADDY coins for about $1.74 million after acquiring them for merely $1,950, resulting in a profit magnification of nearly 2,875 times [1].

It is essential for investors to exercise caution and thoroughly research before investing in any cryptocurrency, especially those involving airdrops and potentially regulatory challenges.

Sources:

[1] BeInCrypto. (2022, May 10). Andrew Tate Shares Plans For The Real World (TRW) Token. https://beincrypto.com/andrew-tate-daddy-meme-coin-airdrop/
[2] CoinMarketCap. (2022, May 10). Daddy Tate (DADDY). https://coinmarketcap.com/currencies/daddy-tate/
[3] Lookonchain. (n.d.). Daddy Tate (DADDY). https://lookonchain.info/project/DADDY
[4] Bubblemaps. (n.d.). Daddy Tate (DADDY). https://bubblemaps.com/assets/0x5058c2e712341f1f2f19d8260619e7b6