An investigation by Bubblemaps recently identified substantial insider trader activity related to Andrew Tate’s token DADDY. Insiders reportedly acquired 30% of the token’s supply at its inception, before Tate’s promotion on social media platforms. These insiders allegedly hold over $45 million worth of $DADDY currently. Following the publication, Tate blocked Bubblemaps on X.
The DADDY deployer address sent 40% of the token to Andrew Tate, who bought $10,000 from the asset and burned it. However, the supply sent by the deployer address is still in his possession.
Furthermore, although Tate said he wasn’t selling any of his tokens and stuck with his word, 11 wallets funded through Binance with nearly identical amounts simultaneously bought 20% of DADDY on June 9th.
“Since they are funded through Binance, we can’t 100% confirm they belong to the same group. However, the timing and amounts strongly suggest they do. These wallets hold ~19% of the total supply, worth $30M at the current price. One wallet selling could crash the liquidity,” added Bubblemaps’ team.
Additionally, two clusters of wallets, connected through a single address and holding 10% of the supply, bought in before Tate’s first tweet and are currently sitting on $16 million.
Therefore, while Tate has not sold his tokens, the insider activity on $DADDY suggests a potential risk for traders. Moreover, Tate still holds the 40% of tokens transferred to him, now worth $64 million, which he has not yet burned, leaving open the possibility of him selling in the future.
