Everyone lost their money when the Hawk Tuah girl introduced cryptocurrency meme coins, some wanted to see her imprisoned.
As its price drops by more than 90% in a matter of hours, the well-known Hawk Tuah girl Haliey Welch’s HAWK memecoin has caused controversy. The discovery of suspected snipers and insiders was one of the main causes of the HAWK price drop.
Launched on December 4 at 10 PM UTC, HAWK memecoin rapidly increased by over 900% and reached a market valuation of $490 million. However, just hours after the claims began to circulate among investors, the price of memecoin plummeted by almost 91%.
HAWK was launched at $0.005492, pumped to $0.04916, and then crashed, according to DEXScreener data.
According to onchain data, certain snipers were able to profit the maximum from a single sale, making almost $1.3 million by selling over 135 million HAWK tokens at the appropriate moment.
According to community acquisitions, snipers and insider wallets together own more than 80% of the HAWK token supply. However, Welch denied that such incidents had occurred and that they had not given KOLs any tokens.
In addition, several X users have asserted that Hailey Welch may face legal issues as a result of the introduction of HAWK, since the SEC is receiving complaints from a number of investors who lost money on the memecoin.
Comments about Hailey Welch’s possible participation with insider wallets were also poured in on her social media accounts. Community notes also pointed out that ten interconnected wallets have 96% of the HAWK supply, and that they have been selling progressively since introduction, in a number of her posts on X.