Andrew Tate, a controversial influencer and now a rising boxer, is making headlines as his cryptocurrency, Daddy Tate (DADDY), experiences a significant price surge. With just a day left before his highly anticipated boxing debut at the Misfits match on December 20, the meme coin has risen nearly 9% in the weekly chart, trading at $0.0166 at the time of publication.
DADDY Coin Outperforms the Crypto Market
The trading volume for DADDY has also surged, reaching approximately $759,000 with a 5% daily increase over the past 24 hours. This performance has outpaced the broader crypto market, which is only beginning to show modest recovery with a 0.4% rise. Meanwhile, major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), remain in the red, down 4.7% and 8% on the week, respectively.
Such momentum underlines the meme coin’s sensitivity to Tate’s activities, further fueled by comments from the influencer himself. Tate recently posted on X (formerly Twitter), advocating for cryptocurrency transactions in real estate investments, specifically in the UAE, while claiming tax-free advantages.
Market Buzz and Predictions
The excitement surrounding Tate’s boxing match has also spilled over to prediction markets. Platforms such as Polymarket and Kalshi reveal that bettors have given Tate an 82% chance of winning his fight. Should he win, it could drive an even greater rally for DADDY. However, given the unpredictable nature of meme assets, the outcome of Tate’s fight could see either a spike or a reversal.
Considering the Investment Opportunity
DADDY’s recent rise begs the question of whether its hype will sustain post-match or fade away like many other meme coins. For those intrigued by the crypto space, platforms like Uphold offer a secure way to trade cryptocurrencies. With options to buy, sell, or stake, platforms like these can simplify crypto investments for beginners and seasoned traders alike.
However, as with any meme coin, caution is advised. Cryptocurrencies are high-risk investments, and understanding the volatile nature of assets like DADDY is crucial before investing.
Final Thoughts
Whether you’re a fan of Andrew Tate or simply curious about the meme coin phenomenon, DADDY is making waves ahead of the boxing event. As the crypto market continues to evolve, keeping an eye on such unique trends can offer insights into the future of blockchain investments.
