Competition is increasing among celebrities: Iggy Azalea’s memecoin is left behind!

A memecoin introduced by influencer and fighter Andrew Tate has overtaken rapper Iggy Azalea’s memecoin.

Tate has been promoting Daddy Tate (Daddy Tate), a Solana memecoin that he has been promoting on X since at least June 11. DADDY) has reached the $300 million market cap and is currently trading at $0.30, up 218 percent, according to DEX.

Meanwhile, Azalea’s Mother Iggy ( MOTHER ) memecoin’s market cap has fallen by nearly half from its peak of $267.58 million on June 6 to approximately $153 million. Data shows that its price has also fallen since its peak of $0.27 on June 6 and has traded at $0.15, with an increase of over 7 percent in the last day.

Inside trading suspicion brought controversy

Daddy Tate sparked controversy when he alleged that an analytics firm had questionable insider activity regarding the token.

Crypto analytics firm Bubblemaps said in its June 12

It is claimed that before Tate’s first X post, on June 9, 11 wallets purchased 20 percent of DADDY, which is now worth approximately $61.4 million. Bubblemaps stated that it could not confirm whether these were related to the same cluster, but the timing and measurements definitely showed that they were.

With a small concentration of wallets holding one-fifth of the token supply, the firm warned that a wallet sale could drain liquidity. More wallets connected to the cluster reportedly held 10 percent, or approximately $30 million, of the token supply purchased before Tate’s first post.

Bubblemaps said Tate currently has 40 percent of its token supply untouched and could start selling it at any time. A share worth approximately $122.8 million. In response to Bubblemaps’ thesis, Tate said: “I will never sell what is sent to my wallet, I will just burn it and buy it.”

The analytics firm said it found similar activity on MOTHER last month, with insiders buying 20 percent of its supply at launch before Azalea first shared about the token.