Andrew Tate Crypto Token ($TATE) Plummets 96%, Tao Coin ($TAOTAO) Drops 100%

A new token called TATE (TATE) made headlines as the top daily gainer on DEXTools, a platform that tracks decentralized exchange (DEX) coins.

At one point, TATE surged by an astonishing 50,000%. However, it is important to note that another TATE token launched last month experienced a 96% correction.

In this article, we delve into the Andrew Tate Token ($TATE) crash and explore the intriguing world of influencer-backed cryptocurrencies.

Influence of Andrew Tate:

Notably, influencer and former kickboxer Andrew Tate has not mentioned any $TATE coins on his Twitter.

While Tate previously referred to traders as “degen autists” and likened “gambling on shitcoins” to visiting a casino, he has advocated for buying Bitcoin in the past.

It is worth mentioning that several Andrew Tate coins have emerged as pump-and-dump scams, including Tatecoin, Andrew Tate Inu, Tate CEO, and $ANDREWTATE, creating skepticism around new tokens associated with his name.

The TATE Tokens:

Both TATE cryptocurrencies mentioned earlier are yet to be listed on any centralized exchange (CEX) platforms. Despite experiencing a 96% crash, the TATE token with a high DEXTscore rating of 93/99 garners attention.

However, it does come with a smart contract warning – a modifiable trading tax, as revealed by the automatic audit results on its DEXTools TATE/WETH pair.

On the other hand, the other TATE token has a lower rating of 31/99. Another new cryptocurrency called Tao Coin also witnessed a significant rally but ultimately crashed 100%, reminiscent of the infamous Squid Game crypto. Tao Coin now has a market cap of just $4.

Trading New Uniswap Coins:

While it is possible to trade new Uniswap coins for profit, it is crucial to proceed with caution.

Only experienced traders are recommended to attempt it and consider various factors such as DEXTscore, liquidity, number of holders, contract audits, and more.

Unlike centralized exchanges (CEX), anyone can list a fake or scam token on a DEX. It is also advisable to check whether reliable influencers across social media have mentioned a new coin listing to determine the authenticity and organic interest of buyers.