Key Points
- Hawk Tuah lady faces huge backlash after launching a memecoin on Solana that had everybody dropping their cash.
- Previously, she used to assume crypto was “only a rip-off,” and a straightforward option to lose cash.
Hailey Welch, also called the Hawk Tuah lady, is now dealing with huge backlash after making a memecoin that has everybody dropping their cash, aside from the insiders.
HAWK’s Market Cap Dropped From $500M to $60M in Minutes
On-chain studies reveal that the memecoin referred to as HAWK, created on Solana, surged to a market cap near $500 million after which dropped to round $60 million market cap in a matter of minutes.
Welch shared a video on X right now, saying that the HAWK memecoin went dwell. X group notes revealed that 96% of the token provide had been sniped and was slowly being bought on the group. X notes additionally shared that purchasing this extremely speculative coin would possibly lead to loss and excessive due diligence was beneficial.
People are debating the problem on X, revealing that after the Hawk Tuah lady created the memecoin, everybody aped in, and now persons are left with “crying wallets,” aside from the insiders.
Some even say that anybody who invested in her memecoin deserves what adopted. Someone highlighted that if a person invested $100,000 within the memecoin, the funding would have dropped to round $7,000 in just some minutes.
She is now being accused of rug-pulling her followers with the brand new memecoin, and claims on X are that she walked away with over $3 million inside 24 hours.
The Hawk Tuah group on X shared a message saying that HawkTuah is just a meme, and this group coin was created earlier than the Hawk Tuah lady claimed fame. They additionally famous that HAWK was an enormous mistake which reveals that individuals would do something for cash.
An X person named Gordon said that the members of her crew made $2 million, whereas buyers misplaced every little thing, however, on the similar time, highlighted that she won’t have carried out this deliberately, simply believed within the fallacious individuals who “suggested” her.
When individuals attacked her within the feedback, saying that she knew what she was doing, Gordon defended her by saying that it’s inconceivable that anyone would intentionally spoil their fame for a number of hundred thousand {dollars}, highlighting that her crew made greater than her.
Fortune Crypto publication additionally addressed the memecoin’s launch.
Fortune’s Interview With the Hawk Tuah Girl
Fortune mentioned that memecoins go viral amongst Internet communities on platforms resembling Telegram and Discord, typically primarily based on fleeting moments, mentioning PNUT – one other memecoin on Solana.
In many instances, patrons rush into the memecoins and the value spikes, typically even reaching billions of {dollars} in market cap, till holders determine to promote earlier than the worth drops.
Welch had an interview with Fortune and mentioned that her HAWK memecoin was not only a money seize, explaining that she desires to vary the general public’s view on crypto.
Her supervisor, Jonnie Forster was requested in regards to the memecoin’s valuation and authorized uncertainty and mentioned that they don’t wish to break securities legal guidelines. He additionally mentioned that they’re tokenizing Hailey’s fan base.
Fortune mentioned that HAWK will almost certainly stay in a nook of the business dominated by the so-called “degens”.
In her interview with Fortune, Welch mentioned that she is genuinely concerned with utilizing crypto and her memecoin to attach together with her followers. She additionally mentioned that she used to consider crypto as only a rip-off and a straightforward option to lose cash earlier than attending associated conferences.
Hawk Tuah is an Internet meme originating from a viral YouTube video posted in 2024.
