Experts from the analytical platform Bubblemaps warn about suspicious activity in the DADDY memcoin project, promoted by kickboxing star Andrew Tate.

Bubblemaps reports that ahead of the launch of the Daddy Tate (DADDY) memcoin on June 9, unknown insiders purchased about 30% of the total supply of the crypto asset worth more than $45 million and distributed it across 21 wallets.

On the same day, before DADDY began to be advertised on the X network, the Daddy Tate team sent another 40% of the total supply of memcoin to Andrew Tate, who became an ambassador for the project and committed to promoting the asset on social networks. On June 14, social network X reported that Tate burned all of his DADDY coins.

Bubblemaps experts urged crypto investors to exercise caution as insiders are “suspiciously active in DADDY memcoins, and one of the suspicious wallets could destroy the project’s liquidity pool.”

Now DADDY traded priced at $0.269. Over the past 24 hours, its price has fallen by 15.88%. This is 0.01% below its all-time high of $0.346483, reached on the morning of June 14. DADDY’s 24-hour trading volume exceeded $41 million, and its market capitalization reached $275 million.

Earlier, former professional kickboxer and blogger Andrew Tate said that he plans to completely abandon fiat currencies and invest over $100 million in various digital assets and Bitcoin.