Andrew Tate's Memecoin Endorsements Spark Insider Trading Speculation

A lot of people are wondering if Andrew Tate is involved in insider trading since the value of most memecoins that he supports has dropped by 99 percent.

Most memecoins endorsed by influencer Andrew Tate have lost 99% of their value, sparking speculation about potential insider trading. The tokens, including ROOST and $GER, collapsed shortly after Tate’s endorsement, leaving investors scrambling.

The influencer joined the group backing over ten tokens of the notoriously worthless Solana memecoin on June 7.

According to an Oct. 19 Bubblemaps post, the majority of these tokens have lost nearly all of their value since Tate's endorsement:

Memecoin Volatility Still Benefits Some Traders

Despite the memecoin’s lack of practical use, some traders have managed to capitalize on the memecoin’s wildly fluctuating prices, Cointelegraph shares.

One crypto trader who invested in the Solana-based memecoin Nomogram (GNON) saw a 3,000x return on his initial investment, making over $9 million in profits over two days of trading the memecoin.

Several tokens endorsed by the influencer, including those created by Solana, which were also supported by celebrities like 50 Cent, Caitlyn Jenner, and Iggy Azalea, have since crashed in value.

Roost Token Among Biggest Losers After Coffeezilla Investigation

The former kickboxing world champion promoted several memecoins, including the Roost (ROOST) token, through his vast social media presence, which included posts and videos showcasing ROOST products.

However, the price began to plummet shortly after Tate's promotional posts, according to a video investigation released by Coffeezilla on Oct. 19.

“Roost is now down over 90%. Roost’s treasury wallet got hacked, so the community literally got scammed. And to make it worse, the guy who got hacked was anonymous,” Coffeezilla states in the video.

Tate Responds to the Crash With Bold Claims

Just hours after Coffeezilla's investigation was revealed, Tate posted a cryptic message on X, claiming he can single-handedly manipulate the price of cryptocurrencies, stating:

Several cryptocurrencies endorsed by Tate, including Fuck Tristan (FTRISTAN), TopG (TOPG), RNT (RNT), and Daddy Tate (DADDY), have all seen drops in value of over 90%.