Musk's Admission Sinks Dogecoin as Tate's DADDY Token Collapses 97%

Tate's Solana-based meme coin DADDY has taken a devastating hit, plummeting more than 97% from its June 2024 peak as Andrew Tate faces mounting legal pressure. The influencer and his brother Tristan were arrested by US Marshals in Miami on Saturday under a sealed warrant related to UK extradition proceedings.

The charges against the brothers include rape, trafficking, sexual assault, and offenses relating to indecent images of a child and extreme pornography. Malcolm McHaffie, head of the CPS special crime division, confirmed the decision to prosecute, stating that the charges involve seven alleged victims and span offenses allegedly committed between July 2010 and August 2017.

DADDY's market capitalization has collapsed to less than $5 million, down 50% in the past week alone. Its trading volume has thinned to roughly $429,000 over 24 hours, making it susceptible to sharp price movements.