Haliey Welch, a 22-year-old social media influencer known as the “Hawk tuah girl,” launched her own memecoin, but the cryptocurrency experienced a sharp decline shortly after its debut. Welch announced the launch on X, sharing an enthusiastic video where she expressed her excitement.
Initially, the new token saw a remarkable surge, reaching a market value of $500 million. However, in a rapid turn of events, its value dropped to less than $60 million within just 20 minutes. This drastic plummet led some critics to accuse Welch of orchestrating a potential cryptocurrency scam.
In response to the criticism, Welch made another post on social media, explaining that her team had implemented high fees to deter snipers during the launch, asserting that they had not sold any tokens themselves. Before the launch, she emphasized that the memecoin was not intended as a mere money-making scheme. Interestingly, Welch revealed that she used to view cryptocurrency as a scam but had since changed her perspective.
Welch gained notoriety earlier this year for a controversial statement, but she has since channeled her public attention into positive endeavors. She recently co-founded a nonprofit organization aimed at raising awareness and funds for animal charities across the United States. On the nonprofit’s website, Welch expressed her commitment to giving back, stating that her pets were a constant source of support throughout her life.
Despite the rocky start for her cryptocurrency venture, Welch’s dedication to philanthropy demonstrates her willingness to leverage her platform for positive change. With her new nonprofit, there is potential for her to make a meaningful impact in the animal welfare sector.
In summary, while Haliey Welch’s memecoin launch faced immediate challenges, her actions reflect a positive turn towards using her influence for charitable causes, showing that even in setbacks, opportunities for growth and generosity can arise.