Iggy Azalea’s Mother Iggy (MOTHER) meme coin has outstripped Andrew Tate’s Daddy Tate (DADDY) coin in market capitalization. This week, MOTHER swiftly bounced back, soaring over 35% in value, whereas DADDY struggled, plummeting 20% amid market fluctuations.
The rivalry between the meme coin intensifies with just a thin gap between their market capitalization.
Andrew Tate’s DADDY Meme Coin Approaches 50,000 Holders
According to data from DEX Screener, DADDY’s market cap is currently pegged at $69.7 million. On the other hand, MOTHER has a slight edge with a valuation of $75.7 million. Despite the fierce competition, MOTHER has shown remarkable resilience and recovery, contrasting sharply with DADDY’s downturn.
Originally, DADDY had surged past MOTHER in market valuation due to initial hype post-launch. However, recent trends have reversed these fortunes. Andrew Tate, known for his controversial statements, previously shared his motives for backing DADDY.
“I heard about a coin called MOTHER, so now I’m supporting a coin called DADDY to flip it for the patriarchy,” Tate said.
Read more: 11 Top Solana Meme Coins to Watch in June 2024
Currently, DADDY boasts 41,930 token holders, surpassing the 27,056 wallets holding MOTHER. Tate has sparked curiosity among his followers by hinting at a potential surprise once DADDY hits 50,000 holders, likely involving significant token burns.
Moreover, both celebrities are integrating their meme coins into broader business endeavors. On June 10, Iggy Azalea announced that her telecommunications company, Unreal Mobile, would accept MOTHER and Solana (SOL) for purchasing phones and monthly cell plans. This move is supported by a partnership with Sphere Labs, which aims to embed cryptocurrency into everyday transactions.
Simultaneously, Andrew Tate is exploring utilities for DADDY, including its transformation into a non-fungible token (NFT) to reduce its supply significantly. He plans to do that by buying the coin with his own money and burning it at certain market caps.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Furthermore, Tate plans to integrate the DADDY coin with his Real World University, offering exclusive access and potential staking rewards to coin holders. This approach aims to generate daily cryptocurrency rewards for university members, further enhancing the coin’s appeal.
“The case of the Daddy token is a rare example of how a project initially not associated with a celebrity is suddenly endorsed by one. This sets a precedent—perhaps other celebrities will consider how to capitalize on existing assets and even engage in direct competition with other crypto assets, like the MOTHER—DADDY rivalry,” Max Jones, the founder at Memepad.ai told BeInCrypto.
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