- Daddy Tate token gained traction after the community takeover and Andrew Tate’s active involvement, despite a recent price drop.
- Travala partnership boosts Daddy Tate’s profile, enabling bookings for over 2.2 million hotels with the meme coin.
- Andrew Tate’s newfound freedom and $500,000 investment in Daddy Tate signal potential for future value increase.
Daddy Tate, the meme coin inspired by internet personality Andrew Tate, is making waves in cryptocurrency. Launched on the Solana blockchain 29 days ago, it quickly gained attention. The token’s community took over on June 13 after the developer abandoned the project. Andrew Tate has been vocal about the token, purchasing large amounts since June 11.
Travala Partnership and Market Movements
Travala, a booking site, has added Daddy Tate to its list of accepted cryptocurrencies. Travala was built on Binance BNB Smart Chain; over 2.2 million hotels can be booked globally, with a means of payment being cryptocurrencies such as Bitcoin and Ethereum.
Despite Tate’s confirmation of the collaboration with Travala, CoinGecko statistics indicate that the announcement resulted in an 8% decline in the token’s value to $0.1453. Daddy Tate’s market capitalization fell to $91.9 million, a more than 48% decrease, from its top of $0.2849 on June 28.
However, Tate’s involvement signifies a new trend: celebrities actively backing their tokens. In addition to Andrew Tate, other celebrities, such as Nigerian musician Davido and media personality Caitlyn Jenner, have launched their meme coins on Solana.
Legal Victory and Increased Visibility
In a turn of events, Andrew and Tristan Tate won their appeal, allowing them to leave Romania and travel across Europe. This newfound freedom enables Tate to participate in more public engagements, potentially boosting the visibility of the Daddy Tate project. According to Whale Insider, the Daddy Tate meme coin has surpassed 44,000 token holders, marking a significant milestone for the community.
Additionally, Andrew Tate recently loaded his public wallet with $500,000 (about 3,600 SOL), sparking speculation about a possible market buy and burn. Such a move would reduce the token supply and increase demand, potentially driving up its value.
In a video announcement, Tate expressed excitement about marketing his token and himself. He hinted at massive plans for Daddy Tate, including a European tour for DADDY stakes, a potential Netflix appearance, and the release of a book. Tate’s newfound freedom and active promotion could significantly impact the token’s future.
Moreover, Tate’s plans for Daddy Tate could lead to increased interest and investment in the token. The Daddy Tate project exemplifies the growing trend of celebrity-backed cryptocurrencies in the meme coin sub-culture.
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