Andrew Tate-Themed Cryptocurrency DADDY Tate (DADDY) Surges by Over 26% Amid Ongoing Legal Issues in Romania

The Andrew Tate-themed cryptocurrency, DADDY Tate (DADDY), was among the top gainers on Aug. 23, as traders closely followed Tate's ongoing legal issues in Romania.

Cryptocurrency linked to Andrew Tate surged on Friday after a Romanian court placed the controversial influencer under house arrest for 30 days over fresh allegations of sexual and human trafficking.

DADDY Tate (DADDY) soared by over 26%, reaching a high of $0.0795, its highest point since Aug. 15. The token, which is named after Tate and trades on the Pump.fun platform, surged by 55% from its lowest level this month.

This rebound also occurred alongside a strong comeback in several Pump.fun coins. Michi (MICHI) surged by 23%, Smoking Chicken Fish (SCF) by 57%, and Fwog (FWOG) by 80% in the last seven days.

Andrew Tate's recent legal challenges in Romania served as the primary catalyst for DADDY's surge.

On Thursday, a Romanian court placed Tate under house arrest following fresh allegations of sexual and human trafficking.

A Romanian court has placed Andrew Tate under house arrest for 30 days following fresh allegations of sexual and human trafficking.

On Friday, DADDY's price soared by over 26%, reaching a high of $0.0795, its highest point since Aug. 15.

This rebound also occurred alongside a strong comeback in several Pump.fun coins. Michi (MICHI) surged by 23%, Smoking Chicken Fish (SCF) by 57%, and Fwog (FWOG) by 80% in the last seven days.

The influencer is now restricted to his home for 30 days as a result of these new allegations.

In an X post, Andrew Tate defended himself, claiming that all accusations were false and hinting at potential corruption in Romania.

EVERY ACCUSATION AGAINST ME IS A LIE.

EVERY SINGLE ONE IS FABRICATED.

ENOUGH OF THE CORRUPTION. pic.twitter.com/3nlGxDJHbV

Most social media users expressed support for Tate and his brother, Tristan Tate, who also faces similar accusations.

In a post, Valentina Gomez noted that Romanian investigators had carried out investigations for three years and “found nothing.”

As a result, DADDY soared because of the hype his arrest generated. Data by Google Trends showed that the search for the name Andrew Tate rose to its highest point since March this year.

Most of this traffic was from Albania, UK, Ireland, and Romania.

The token also rose after a prediction market estimated that Tate would not be found guilty of human trafficking this year.

That probability rose to 37% on Aug. 21 and then retreated to 10% in Polymarket.

DADDY's price was trading at $0.075 on Friday, a few points above the 50-period Exponential Moving Average.

That price served as an important resistance level that it failed to move above since Aug.14. Its volume has remained in a downward trend after peaking on Aug. 15.

Therefore, the most likely scenario is where it pulls back in the next few days as Tate’s arrest news fade. If this happens, it will drop to $0.0655, its lowest swing on Aug. 11 and Aug. 16.

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