Hawk Tuah Girl faces backlash as her $HAWK memecoin crashes from $500M to $60M in minutes

Haliey Welch, better known as the “Hawk Tuah Girl,” is under fire after the spectacular rise and fall of her memecoin, $HAWK. The cryptocurrency soared to a $500 million market cap shortly after its launch but crashed below $60 million within minutes, leaving many investors reeling.

A Rocket Rise of $HAWK Memecoin and a Hard Fall

The $HAWK token, launched on December 4, initially soared from a price of $0.000007099 to $0.00004028, reaching its $500 million peak. However, the momentum didn’t last. Within 20 minutes of hitting its high, the token’s value dropped by more than 50%, and just three hours later, it had lost 91% of its value. This sharp decline wiped out millions in investments, sparking outrage among holders.

Concerns Over Trading Practices

The fallout has raised questions about potential issues behind the token’s dramatic crash. Investors have voiced suspicions of insider trading and sniper wallets—mechanisms often linked to extreme market volatility. These allegations have intensified scrutiny of Welch’s involvement and the broader management of the project.

A Viral Name in the Crypto Spotlight

Welch shot to internet fame earlier this year as a viral meme sensation. She leveraged her online popularity to launch $HAWK, positioning it as the next big memecoin. However, the coin’s short-lived success has highlighted the risks of celebrity-backed cryptocurrencies and left many questioning the sustainability of such ventures.

Lessons for the Crypto Market

The rapid rise and fall of $HAWK serves as another reminder of the volatility in the memecoin market. While the promise of quick profits can be tempting, the risks remain high, especially in projects driven more by hype than fundamentals.

As investors continue to grapple with their losses, the $HAWK debacle underscores the importance of caution and research before jumping into the latest crypto trend.