Haliey Welch, known as the “Hawk tuah girl,” recently launched her own memecoin, generating substantial excitement yet facing significant backlash when its value quickly plummeted after the debut.
Welch, a 22-year-old social media influencer, announced the launch on X, sharing an enthusiastic video where she expressed her excitement. Initially, the token experienced a meteoric rise, soaring to a market valuation of $500 million. However, within a mere 20 minutes, it dropped dramatically to under $60 million. This swift downturn prompted critics to accuse Welch of engaging in cryptocurrency fraud.
In response to the criticism, Welch communicated via social media that her team had made efforts to deter “snipers” – investors who seek to gain an immediate advantage – by implementing high fees during the launch. She emphasized that her team had not sold any tokens themselves.
Leading up to the cryptocurrency launch, Welch had assured potential investors that the memecoin was not merely an opportunistic project. She revealed that her views on cryptocurrency had evolved; although she once viewed it as a potential scam, she has come to appreciate its possibilities.
Welch gained notoriety earlier this summer for making controversial statements but has since redirected her focus towards philanthropic efforts. She co-founded a nonprofit organization aimed at raising awareness and funding for animal charities across the United States.
Reflecting on her journey, Welch stated, “Ever since my life changed so publicly, I realized there had to be a reason for it.” Through her foundation, she aims to give back, highlighting the vital role animals played in her life.
Despite the rocky start for her memecoin, Welch’s commitment to charitable causes shows her determination to use her platform for positive change. This dual focus on innovation in the cryptocurrency space and animal welfare could resonate with supporters and provide a hopeful outlook for her endeavors moving forward.
Summary: Haliey Welch launched a memecoin that quickly dropped in value, leading to accusations of fraud. Despite early setbacks, she remains dedicated to philanthropy, particularly for animal charities, indicating a desire to create a positive impact through her newfound fame.