Daddy Tate Price Prediction: DADDY Dives 20% As The Crypto All-Stars Presale Blasts Past $600k.

Daddy Tate Price Drops 20% Amidst Controversy

The Daddy Tate price has experienced a significant 20% decline in the past 24 hours, currently trading at $0.05728 as of 00:49 a.m. EST. This drop has been accompanied by a surge in trading volume, reaching $7.3 million, an increase of 92%.

Controversial Raid Prompts Short-Selling

The sharp decline in Daddy Tate's price can be attributed to a recent police raid on Andrew Tate's residence in Romania. Tate, known for his contentious statements, has been accused of human trafficking and forming a criminal organization for sexual exploitation. Consequently, many investors have engaged in short-selling of the meme coin.

Bearish Outlook for Daddy Tate

The Daddy Tate price has been in a downward trend since mid-July, resulting in a bearish sentiment. Data from GeckoTerminal reveals that while DADDY remains above the $0.050 support level, bulls are aiming for an upward rally. However, bearish prospects are supported by the fact that the price trades beneath both the 50-day and 200-day Simple Moving Averages (SMAs), which serve as immediate resistance zones at $0.07182 and $0.0859, respectively.

Additionally, the Relative Strength Index (RSI) is currently trading below the 30-oversold level, indicating that DADDY is experiencing intense selling pressure. With the RSI falling below this level, DADDY is currently undervalued, potentially signaling a buying opportunity. If bulls step in, the price of Daddy Tate could rebound from its falling channel, targeting $0.17.

Conversely, if the bearish sentiment persists, the price could plunge further to the support level at $0.037.