Andrew Tate’s memecoin down 97% while he tweets from cell

Andrew Tate’s DADDY memecoin has shed half its value and is currently trading 97% below its 2024 peak — a plunge that’s coincided with Tate’s latest arrest and his incarceration in Miami’s Federal Detention Center.

US Marshals arrested Tate, 39, and his brother Tristan, 38, on Saturday on a sealed warrant pursuant to UK extradition proceedings outside Miami’s James L. Knight Center. The pair were en route to a boxing event that Andrew was slated to co-host.

It is not the pair’s first time in government detention and they continue to use these experiences to attract media attention.

Indeed, Tate spent some time on Thursday tweeting about jail life, including being housed next door to an alleged cannibal who “screams through the night.”

Whether personally or through a proxy with internet access, Andrew posted to X, “I am being held in SHU,” referring to the Special Housing Unit at the Federal Detention Center of Miami, a US Bureau of Prisons facility.

He inaccurately claimed that it’s “the highest level of security which exists” and continued to embellish his tale, “No commissary. No visits. No contact with the outside world.”

This “no-contact” experience includes over three million impressions on a single post and a dozen posts or retweets over the past 48 hours, not to mention exposure from his other social media channels and countless media stories about the incident.

UK seeks criminal proceedings against Andrew Tate

Britain’s Crown Prosecution Service has authorized 38 further charges against the Tate brothers, involving four more alleged victims and bringing the total to seven. 

Andrew personally faces seven fresh counts of rape, trafficking, and assault, and charges over child sex-abuse images and extreme pornography.

Tristan faces two rape counts, one sexual assault count, and three trafficking counts.

Malcolm McHaffie, head of the CPS special crime division, spoke on the matter, saying, “We have decided to prosecute Andrew and Tristan Tate for further offences including rape, arranging or facilitating trafficking for sexual exploitation and offences relating to indecent images of a child.”

The brothers appeared before Judge Lauren Louis on Monday, with another hearing set for Monday, July 27.

For now, they remain at the Federal Detention Center in downtown Miami. 

Justice Department filings this week asked the court to keep the pair secured throughout extradition proceedings, alleging that both brothers strangled women unconscious before raping them.

Their lawyer, Joseph McBride, told reporters, “This feels political.”

Read more: Andrew Tate liquidated again amid fresh trafficking charges

DADDY the Tate brothers’ memecoin wreckage

Tate adopted DADDY, a Solana memecoin, as his personal token in June 2024. On Thursday afternoon it traded around $0.008, 97% below its all-time high of $0.29. 

Its market capitalization now hovers below $5 million. The token shed more than a quarter of its value in the two days after the arrest, and is down 50% over the past seven days.

None of this should surprise anyone. Bubblemaps found that DADDY’s deployer sent 40% of the entire token supply straight into Tate’s own wallet. 

The Tate brothers endorsed more than 10 Solana memecoins during 2024’s celebrity token frenzy, and most soon collapsed by around 99%.

TOPG, another Tate-themed and possibly unauthorized memecoin, now trades 99.8% below its June 2024 peak on less than $200 of daily volume. Another, Tate Terminal, sits more than 99% below its October 2024 high.

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