Iggy Azalea’s Mother Iggy (MOTHER) meme coin has overtaken Andrew Tate’s Daddy Tate (DADDY) coin in market capitalization. This week, MOTHER surged over 35% in value, while DADDY plummeted 20% amid market fluctuations. The rivalry between the two meme coins intensifies, with only a thin gap separating their market capitalizations.
Andrew Tate’s DADDY meme coin nears 50,000 holders.
According to DEX Screener, DADDY’s market cap is currently $69.7 million, while MOTHER holds a slight lead at $75.7 million. Despite fierce competition, MOTHER has shown remarkable resilience and recovery, contrasting sharply with DADDY’s recent downturn.
Initially, DADDY surged past MOTHER in market valuation due to early hype. 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.
Currently, DADDY boasts 41,930 token holders, surpassing the 27,056 wallets holding MOTHER. Andrew Tate has sparked curiosity among his followers by hinting at a potential surprise once DADDY hits 50,000 holders, likely involving significant token burns.
Meanwhile, 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, aiming to embed cryptocurrency into everyday transactions.
Simultaneously, Andrew Tate is exploring utilities for DADDY, including transforming it into a non-fungible token (NFT) to significantly reduce its supply. He plans to achieve this by purchasing the coin with his own money and burning it at certain market caps.
Furthermore, Tate plans to integrate the DADDY coin with his Real World University, offering exclusive access and potential staking rewards to coin holders. This strategy aims to provide daily cryptocurrency rewards for university members, 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, founder of Memepad.ai, told BeInCrypto.