"DADDY Surges 110% on Trump's Backing, Meme Coin Mania Rises Again?"

DADDY Spikes 110% After Trump Backs Andrew Tate – Is Meme Coin Mania Back?

Celebrity meme coin Daddy Tate (DADDY) has reignited hopes of a "meme coin mania" resurgence following a significant surge, boosted by US President Donald Trump's support. The coin, associated with controversial influencer Andrew Tate, surged 108.21% to a peak of $0.077 over 16 hours before retracing by 35%.

The rally comes on the heels of reports that the Tate brothers' travel ban has been lifted, allowing them to leave Romania after being held there since 2022. The Trump administration is said to have pressured Romanian authorities to remove travel restrictions on Andrew and Tristan Tate.

In July 2024, Andrew Tate had announced plans for a "global tour" to promote DADDY, including stops in Tokyo, Dubai, and Miami. However, these plans were thwarted when a past EU travel ban lift was overturned. If these tour plans resurface, they could generate global hype for meme coins, attracting new liquidity and potentially reigniting the meme coin mania.

While sentiment towards meme coins remains strong, liquidity has dried up amid recent uncertainties. As the bull market matured and broader economic concerns, such as Trump's "tariff war" and tensions with NATO allies, came into play, meme coins have suffered. Celebrity-backed meme coins like TRUMP and MELANIA fueled the last meme coin wave, and DADDY could be next if US President Trump continues to engage with the Tate brothers.

DADDY, a low-cap coin, remains highly volatile and is currently in a discovery phase, establishing new support levels. The surge marks the end of a descending channel that had bound DADDY in consolidation throughout February. While the breakout initially targeted $0.5235, hype drove the meme coin far beyond that level. The Relative Strength Index (RSI) spiked to 88, leading to a sharp correction as buying pressure was exhausted and profit-taking kicked in. However, selling pressure may be easing, with the MACD line trending upward and poised to form a golden cross as it approaches the signal line.

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