The DADDY token, a meme coin on Solana linked to Andrew Tate, saw a slight pump of 11% to $34 million in market capitalization, immediately after news of the new investigation into this controversial figure in Florida emerged. However, like previous occasions, this increase did not last long, and the value of DADDY quickly fell to $31.7 million.
Is this just another pump & dump scheme, or does DADDY actually have a chance to revive?
Andrew Tate is Under Investigation Again in Florida
Andrew Tate and his brother Tristian Tate left Romania and flew to Florida last week after the Trump administration pressured #Romania to restrict their movement.
As soon as he set foot in the US, Florida Attorney General James Uthmeier confirmed that there is a criminal investigation targeting the Tate brothers. He stated:
"They have publicly admitted to grooming, trafficking, and abusing women worldwide—many of whom are underage victims."
Uthmeier's office also stated that it has issued subpoenas and search warrants, officially launching a comprehensive investigation.
Every Time Andrew Tate Appears, Does DADDY Pump?
The meme coin #daddy was heavily promoted by Andrew Tate on social media and tends to increase in price whenever Tate appears in the news.
📌 In June 2024, DADDY reached a market capitalization peak of $209 million, but then plummeted by 85%.
📌 Last week, when Tate left Romania for Florida, DADDY increased by 78%.
📌 This time, when information about the new investigation in Florida was revealed, DADDY also surged 11% before falling again.
This shows that despite the controversies and legal troubles, the name Andrew Tate still has a significant influence on a segment of meme coin investors.
Does DADDY Have a Chance to Revive?
Although DADDY has significantly decreased from its peak, some holders remain optimistic that Andrew Tate's name will continue to keep DADDY active.
Currently, aside from the new investigation in Florida, Andrew Tate still has:
🔹 Awaiting trial in Romania on charges of human trafficking, money laundering, and forming a criminal organization.
🔹 Facing charges of rape and sexual assault in the UK.
🔹 Being investigated for tax evasion in the UK.
With this series of lawsuits, Tate will undoubtedly continue to appear in the news for a long time, and each time, it is likely that DADDY will experience another short-term pump.
However, like most meme coins associated with personal names, the investment risk in DADDY remains extremely high, and whether it can fully recover is still a big question mark. 🚨