Several crypto analysts warned on Friday about the dangers of trading with the so-called “celebrity coins”, the current leading narrative in the meme coin space.
On-chain data tracker Bubblemaps identified insider trading activity in the token DADDY, Andrew Tate holds 40% of the supply. Crypto analysts slam meme coins launched by celebrities on Ethereum and Solana.
and are the trending celeb coins, gaining popularity on social media platforms like X. Social media influencer Andrew Tate’s DADDY token, which is among the most popular ones, has been surrounded by accusations of insider trading activity. Caitlyn Jenner’s JENNER, Iggy Azalea’s MOTHER and are other tokens in the category, based on meme coins referencing famous personalities that tend to endorse these tokens. Crypto data trackers identify insider activity in DADDY Bubblemaps, a crypto data tracker, evaluated the on-chain activity in addresses holding DADDY token and noted that Solana-based token’s 40% supply was sent to the celebrity Andrew Tate. The platform believes there is insider trading in wallets associated with DADDY.
gained nearly 5% in the past 24 hours.
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