In a predominantly bearish market with Bitcoin nearing $60,000 and a 3% decline, the meme coin DADDY, associated with Andrew Tate, has shown remarkable resilience, surging 40% in the last 24 hours. DADDY’s market capitalization briefly touched $100 million, establishing itself as one of the day’s top-performing assets.
At the time of reporting, DADDY was priced at $0.1657, marking a 30% increase in the past 24 hours.
DADDY’s ascent was fueled by a video release where Andrew Tate encouraged coin holders to join his “university,” The Real World. Tate set a 72-hour deadline for accumulating DADDY, promising a major announcement aimed at revitalizing the cryptocurrency sector. “You will understand that we will build a space based on honor, hard work, and diligence, rather than simply being first, lucky, pulling the rug, or being a stealthy anonymous,” Tate affirmed.
Additionally, The Real World organization announced that Tate would host a live broadcast to unveil an “unfair” advantage exclusively for his students. “What do we mean by ‘unfair’? Well, DADDY’s 40% surge in the last 24 hours while the entire market is down is the perfect example,” Tate’s team explained.
From a technical standpoint, DADDY exhibits a Volatility Contraction Pattern (VCP), an optimistic signal indicating decreasing volatility and tighter price consolidations, often preceding a significant breakout.
Investors should be mindful of the risks associated with trading celebrity meme coins, given the history of “pump and dump” maneuvers that can lead to substantial losses. Moreover, concerns persist about insiders holding substantial amounts of Andrew Tate’s DADDY coin, which could trigger a drastic devaluation if they decide to liquidate their positions.
Disclaimer:
The views and opinions expressed in this article are solely for informational purposes and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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