hayley welch Social media influencer known as “Hawk Tuah Girl” She launched her own cryptocurrency, whose value briefly soared, but crashed within hours.
Welch, 22, shot to fame earlier this year after offensive comments he made during an X-rated interview in Nashville went viral on social media. She capitalized on her viral moment by launching a product line and a podcast.
The “Hawk” crypto “meme coin” reached a market cap of $490 million shortly after its launch late Wednesday. Cointelegraph reportedcite the data From DexScreener.
Within three hours, the coin plummeted 91% to a valuation of just $41.7 million.
Data from blockchain analysis site Bubblemaps We have shown that a small number of cryptocurrency wallets control the majority of the available supply of “HAWK”.
This prompted criticism on social media of so-called “snipers” – investors who buy up large quantities of new meme tokens at launch.
After the launch, Welch told I didn't sell a single one.”
in Interview with FortuneWelch said memecoins are “more than just a cash grab.” She admitted that she previously considered cryptocurrencies to be “just a scam” and “an easy way to lose money,” but said she has since changed her mind.
“I don't see it as gambling,” Welch said. “I think this is a fun way to interact with our fans.”
Popular crypto YouTuber Steven “Coffeezilla” Findeisen was among those who criticized Welch’s token launch and warned the public to stay away from it.
“Meme coins always benefit A) insiders B) trading bots.” Coffeezilla wrote on X. “Don’t let liquidity be your exit.”
