Andrew Tate has introduced his latest meme coin, $G, targeting a $100 million market cap. The move follows previous ventures like $Daddy and $TATE, amid controversy - IcoHolder.

Andrew Tate, the controversial figure known for his social media presence, has ramped up his cryptocurrency advocacy with the launch of a new meme coin, $G, which he introduced on November 17, 2024. As the broader cryptocurrency market sees a bullish trend and the “meme coin supercycle” gains traction, Tate is positioning himself as a major player in the space, targeting the increasingly popular market of celebrity-backed coins.

$G: Tate’s Latest Meme Coin Venture

The $G coin, inspired by Tate’s pet dog "G", is part of a larger trend where celebrities launch their own meme coins. Tate's promotional strategy has already begun with a bold mission: to challenge the leader in this space, Hasbulla’s Cat ($Barsik), a meme coin centered around the pet cat of Russian media personality Hasbulla. Tate’s goal is to push $G to a $100 million market cap, a target that saw initial success with a surge to nearly $80 million. However, this momentum was short-lived, and the coin’s market cap has since retraced to below $20 million.

Tate’s marketing approach for $G features a catchy tagline: “Never seen a cat eat a dog, but I’ve seen a dog eat a cat,” which mirrors his earlier rivalry with Iggy Azalea-backed coin Mother Iggy ($Mommy). This competitive spirit, along with familiar tactics like token burns, highlights Tate’s continued influence in the meme coin world.

From $Daddy to $G: The Evolution of Tate’s Crypto Endeavors

This latest initiative follows the trajectory of Tate’s earlier crypto venture, Daddy Tate ($Daddy). Despite initial excitement and the coin’s approach to a $100 million market cap, $Daddy failed to sustain momentum, now resting at a market cap of $54 million. Tate’s transition to $G may indicate a shift in strategy, although it also highlights the volatile nature of celebrity-backed tokens.

Tate’s exploration of meme coins is not limited to $G. He has also promoted Tate Terminal ($TATE), another AI meme coin tied to the “AI meme coin supercycle” narrative. Like $Daddy, $TATE experienced a brief surge but struggled to maintain lasting momentum, following a familiar pattern for celebrity-driven tokens.

Bullish on Bitcoin and Controversies Surrounding Tate

In addition to meme coins, Tate has adopted a strong bullish stance on Bitcoin, predicting a positive future for the leading cryptocurrency. Following the election season, Tate has expressed confidence that Bitcoin’s value will continue to rise, making bold statements about matching MicroStrategy’s Michael Saylor by purchasing $1 million in Bitcoin each time Saylor makes a move.

However, Tate’s crypto ventures have not been without controversy. The crypto analytics firm Bubblemaps raised concerns in June 2024 over alleged insider trading involving Tate’s $Daddy token. The firm’s investigation revealed suspicious trading activity from several wallets that purchased 20% of the token supply before Tate’s initial promotion, raising red flags about potential market manipulation. Similar allegations were made against the Iggy Azalea-backed $Mother coin earlier this year.

The Growing Criticism of Celebrity Meme Coins

As celebrity-backed meme coins continue to flood the market, the trend has drawn increasing criticism from figures within the crypto community. Ethereum co-founder Vitalik Buterin has voiced concerns about the focus on these high-risk, speculative assets, emphasizing the need for more impactful and meaningful projects in the space. Given the volatility and risks associated with these coins, analysts advise traders to focus on established meme coins with a stronger community base to avoid falling victim to scams or rug-pulls.

With his latest $G launch, Andrew Tate is solidifying his place in the growing meme coin market, but the sustainability of these celebrity-driven tokens remains to be seen as concerns about manipulation and volatility persist.