Andrew Tate’s cryptocurrency Meme Coin, Daddy Tate (Daddy), collided with a new all-time low on July 1, reaching the lowest price for Solana-based tokens since its launch, reaching $0.0288.
Despite the sharp decline, the 24-hour trading volume surged to $1 million, showing a 16.86% increase, suggesting that volatility is being drawn to short-term traders, even as long-term holders continue to bleed.
Dad is currently trading at $0.0296. coinmarketcap. Although tokens have seen a modest recovery from the lowest intraday prices, market sentiment remains weak.
At that peak, Papa Token reached a market capitalization of $12,069 million. As of July 2, the market capitalization had plummeted to just $17.79 million, placing the total amount at #835 among all cryptocurrencies.
Whale concentrations and papatoconomy
There are currently 69,826 unique wallet addresses that hold Daddy, reflecting a strong community base despite the price decline.
However, Solscan’s blockchain data revealed that Daddy’s total supply is 599.63 million tokens, with the top 10 holders controlling 107.58 million tokens, or 17.94% of the circular supply. There is concern among analysts about the possibility of adjusted sales pressure or liquidity operations.
What’s next for Andrew Tate’s cipher?
The Andrew Tate brand gave Daddy early momentum, but the token failed to maintain its value amid the lack of utility and roadmap beyond wider market fatigue and hype.
Papa Tate’s price action these days has shaken up confidence, especially as many early investors find themselves deep in the water.
