Crypto insider transforms 2000 into 174 million through meme coin linked to Andrew Tate
Once again, the ever-changing cryptocurrency market has showcased its ability to provide massive returns. A recent investment saga involving the meme coin Daddy Tate (DADDY) serves as a perfect example, with an alleged “insider” turning a $2,000 investment into $1.74 million in a surprisingly short timeframe.
The mysterious individual took advantage of the specific market conditions surrounding Daddy Tate, a meme coin associated with the well-known British-American social media personality and ex-kickboxer, Andrew Tate. While Tate was not directly involved in the creation or management of the coin, his endorsement significantly impacted its performance in the market.
The individual behind these lucrative transactions was identified as an “insider” by the blockchain analytics firm Lookonchain, suggesting that they had an early and advantageous position in the trading of DADDY tokens. This insider initially purchased 29.8 million DADDY tokens across three wallets for a total of 13.2 Solana (SOL), equivalent to approximately $1,950. As anticipation grew, fueled by promotions from the DaddyTateCTO account, the insider executed a series of strategic moves, including selling portions of their holdings and transferring tokens through various addresses before consolidating them in a specific wallet known as “DpL2Tm.”
In just 18 hours after these maneuvers, the insider sold 15.14 million DADDY tokens for 11,752 SOL, translating their investment into around $1.74 million. Despite this significant profit, the trader still retains 13.96 million DADDY tokens, now valued at an estimated $2.8 million, resulting in a total profit of approximately $5.6 million—a remarkable 2,875-fold increase on their initial investment.
According to a report by Bubblemaps on June 12, insiders now hold a substantial portion of DADDY’s circulating supply, valued at over $45 million out of a total of 1 billion tokens. Daddy Tate, a meme coin based on Solana, has reached a market capitalization of $262.94 million and is currently trading at $0.266, showing a 12.27% increase in the last 24 hours.
As the frenzy surrounding meme coins continues, the future of Daddy Tate remains a subject of great speculation and interest among cryptocurrency enthusiasts. This trade exemplifies the potential for extraordinary returns within the crypto space, especially when leveraging market dynamics and timely information.
However, it is crucial to remember the high risks associated with cryptocurrency trading. The remarkable success of Daddy Tate serves as a reminder of both the opportunities and dangers present in the crypto market, where fortunes can be made or lost in the blink of an eye.
Disclaimer: The information provided in this article should not be considered as investment advice. Investing in cryptocurrencies is speculative, and your capital is at risk.
