MOTHER and DADDY crypto tokens faced significant selling pressure on Friday.

DADDY, linked to Andrew Tate, experienced a sharp decline of over 20%, reaching a new low of $0.074. Its market cap dropped to approximately $84 million, down from a peak of over $362 million. Similarly, MOTHER, promoted by rapper Iggy Azalea, fell to $0.0666 from a previous high of $0.2340. Its market cap decreased from over $246 million to about $66 million.

The decline occurred despite the token’s availability on Wintermute, a prominent algorithmic trading platform, and its listing on Coins.ph, a major crypto exchange in the Philippines.

Happy to announce $MOTHER x @wintermute_t are officially besties 😌🤞🐨👩‍🍼

DADDY and MOTHER tokens declined as fear spread throughout the crypto market. The crypto fear and greed index retreated to a neutral level of 52, edging closer to fear, down from a year-to-date high of over 91. Typically, cryptocurrencies underperform when investor sentiment is fearful.

The broader crypto market also saw a downturn. Bitcoin fell to $63,000, its lowest point since May 15th, after forming a double-top pattern at $72,000. Bitcoin often sets the tone for the entire crypto market.

Other major cryptocurrencies like Chainlink, Solana, and Cardano also experienced significant declines. Popular meme coins such as Pepe, Beercoin, and Bonk saw double-digit losses.

The key question now is whether the DADDY and MOTHER tokens will recover or continue their downward trend. While market sentiment is currently weak, there is a possibility of a short-term rebound as traders look to buy the dip. A sustained recovery is more likely if Bitcoin manages to stage a comeback and moves above $70,000.

Some crypto enthusiasts, including billionaire Michael Novogratz, believe Bitcoin could rebound to $100,000 if it surpasses its all-time high of $73,600. Other notable figures like Cathie Wood and Robert Kiyosaki have also made bullish predictions recently.

Stay updated with the latest cryptocurrency news and market trends at Global Crypto News.

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