The Solana token traded around $0.007 on Friday as Tate and his brother faced U.S. detention tied to UK extradition proceedings and a widening criminal case in Britain.
Andrew Tate’s DADDY memecoin was trading around $0.007 on Friday, leaving it more than 97% below its 2024 peak after a fresh selloff tied to his arrest and long-running concerns over concentrated token ownership. The token lost more than a quarter of its value in the two days after Tate was arrested, while its market capitalization halved over the past week to less than $5 million. DADDY, a Solana memecoin, was adopted by Tate as his personal token in June 2024 and reached about $0.29 that same month. On July 19, it changed hands around $0.0112 after falling 24% in one day, with a market cap near $6.7 million and roughly $429,000 in 24-hour trading volume, a thin market that can amplify even modest sell orders. Blockchain analytics firm Bubblemaps said 40% of total supply went directly from the deployer to Tate’s wallet, a concentration that has drawn scrutiny as the token declined. Weakness has also spread across other Tate-linked tokens. More than 10 Solana memecoins backed by the Tate brothers crashed by about 99% during the 2024 celebrity token rush. TOPG, another Tate-branded token, was down 99.8% from its June 2024 high on less than $200 of daily volume, while Tate Terminal traded more than 99% below its October 2024 peak. The market drop came as Andrew Tate, 39, and his brother Tristan, 38, were arrested Saturday by U.S. Marshals under a sealed warrant related to UK extradition proceedings. Bedfordshire Police said the brothers were detained in the United States following a major crime unit investigation into sexual offences. In Britain, the Crown Prosecution Service approved 38 further charges, bringing the total case to 59 offenses and seven alleged victims. A hearing is scheduled for Monday, July 27 before Judge Lauren Louis.