‘Hawk Tuah Girl’ Launches New Cryptocurrency: Here’s What Happened Next

As we step into 2024, the fascination with cryptocurrency continues unabated, particularly among internet personalities. The latest to join this trend is Haliey Welch, better known as “Hawk Tuah Girl.” However, her decision to launch a cryptocurrency raises eyebrows—are we truly surprised at this move?

The “Hawk Tuah”meme has gained notorious fame, a phenomenon I scarcely have the energy to recount. But in brief, it stems from an off-color joke made by Welch during a street interview in Nashville this past summer, which quickly morphed into a viral sensation. This clip has made the rounds so extensively that it may have even reached the feeds of your relatives on Facebook. In fact, discussing “Hawk Tuah”memes feels like revisiting a well-worn topic—one that many may already consider stale.

This 18-second TikTok clip has created a ripple effect, culminating in the launch of her memecoin, aptly named HAWK. Unsurprisingly, its introduction into the cryptocurrency market has been mired in accusations of wrongdoing, including insider trading and the dreaded “rug-pull.”

HAWK’s Disastrous Launch: A Closer Look at Pump-and-Dump Accusations

With the introduction of HAWK, 2024 solidifies its reputation as a tumultuous time for investors. According to The Independent, this memecoin launched on the Solana blockchain witnessed a meteoric rise of over 900%, pushing its market cap to approximately $490 million before crashing to a mere $60 million.

Hawk Tuah girl ‘Haliey Welch’ rug pulled her fans with her new meme coin & made over $3M within 24 hours… One fan invested $1.4M & came out with $46,000? pic.twitter.com/y4RgI13IX2

— clip? (@clippedszn) December 5, 2024

Innovative meme coin rollouts like HAWK can attract “snipers,”or bots designed to capitalize on brief market opportunities. These snipers amassed “between 80 and 90 percent of HAWK’s supply”before rapidly offloading their tokens, leading to a significant market value decline. Allegations are swirling that such investors orchestrated this price manipulation, with many, including YouTuber Coffeezilla, raising questions about HAWK’s legitimacy. All signs point to a rocky future for Welch and her brand in light of these revelations.

Are We Ever Going to Learn the Lessons of Crypto?

It almost feels like fate that Haliey Welch would delve into the cryptocurrency world after her surge in social media fame. Over the last five months, she has launched an AI-powered dating application, started a podcast, and even introduced a Hawk Tuah-themed product line at Spirit Halloween. Now, she finds herself embroiled in significant controversy surrounding a questionable crypto venture.

Welch is not an outlier; numerous online personalities have dabbled in cryptocurrencies, with varying degrees of success. Logan Paul, for instance, faced a multi-million dollar lawsuit in 2021 for his NFT project, CryptoZoo, when investors were left disappointed following a significant crash in token values, as documented by TIME. Such instances have become synonymous with the “pump-and-dump” schemes that plague the crypto landscape.

Despite potentially being swayed by uninformed guidance, Welch’s assertion to Fortune that HAWK is “not just a cash grab” and a means for her fans to engage suggests a naivete reminiscent of past failures.

Thus far, Welch and her team remain silent on issuing an official statement about HAWK. However, she has claimed on X that they have “not sold a single token and no key opinion leader (KOL) has received free tokens,” further stating, “We tried to prevent snipers through high fees at launch.” Still, for those who suffered significant losses, these assurances might ring hollow.

Copy and saving: Hawkanomics: Team hasn’t sold one token and not 1 KOL was given 1 free token. We tried to stop snipers as best we could through high fees in the start of launch on @MeteoraAG. Fees have now been dropped pic.twitter.com/E7xN9VmCrx

— Haliey Welch (@HalieyWelchX) December 4, 2024

The future implications of the HAWK fiasco remain uncertain, but one thing is evident: Welch is bound for the next year with her tokens. Regardless of the outcome, the incident has birthed a plethora of entertaining memes. As this situation unfolds, I, for one, will be seated with popcorn in hand, eager to witness the spectacle that is sure to come.

Source and Images