Summary:
⚈ Recent gains likely stem from broader market momentum, not renewed hype.
⚈ DADDY remains 81% below launch price, with little chance of full recovery.
After suffering a catastrophic collapse as the influencer stopped promoting it and as scam allegations emerged, Andrew Tate’s crypto meme coin, Daddy Tate (DADDY), entered something of a comeback in April.
Daddy Tate is up 25.96% in the last 30 days, 21.70% in the last week of trading, and a respectable 4.94% in the 24-hour chart, as the cryptocurrency is, at press time on May 2, changing hands at $0.05032.
Why DADDY meme coin is rising
Examining the influencer’s X account reveals that he has been sparingly promoting the meme coin and the cryptocurrency exchange platform Photon in between posts about the importance of being wealthy and ChatGPT admitting ‘women are useless.’ Thus, the rally appears linked to the broader market.
DADDY’s rise in the second half of April and at the start of May is in line with Bitcoin’s (BTC) rally within the same time frame.
Considering that BTC traditionally has a market leadership role for cryptocurrencies and that many other digital assets also mirror it, Daddy Tate’s surge could be a case of the ‘rising tide lifting all boats.’
Some may speculate that the meme coin may have gotten a boost from a still-obscure scam seeking to take advantage of President Donald Trump’s decision to offer Official Trump (TRUMP) cryptocurrency holders a dinner with the president.
However, it is relatively unlikely that the ‘Daddy Diner’ scam – promising the same as the TRUMP scheme but with the Tate brothers instead of the commander-in-chief – had a bearing on price by press time, as the associated account on X was only opened on May 1.
Is Daddy Tate set for a 2025 comeback?
Despite the recent positivity, it is relatively safe to say that DADDY is not making a genuine comeback. Examining the all-time chart reveals the meme coin is 80.95% below its initial price.
Lastly, while the original investors have no chance of getting their money back at this stage, more active traders could still profit with some skill and much luck thanks to the meme coin’s volatility.
Featured image via Shutterstock
