Haliey Welch, known online as “Hawk Tuah Girl,” stole the spotlight this summer after an entertaining street interview that offered graphic relationship advice. Since then, she has embraced her newfound viral fame by launching a podcast and animal charity, successfully establishing herself as a prominent influencer. Her rigorous online presence has helped her monetize her popularity, but it has also led to some unusual endorsements, including enthusiastic support for X (formerly Twitter), Tesla’s Cybertruck, and its owner Elon Musk.
In addition to her influencer activities, Welch has immersed herself in the cryptocurrency realm, notably promoting Bitcoin and investing in it. Known as the “Queen of Memes,” she has also dabbled in Dogecoin, the meme-based cryptocurrency inspired by the iconic Shiba Inu meme, largely due to Musk’s enthusiasm for it. Recently, Welch and her team introduced a new cryptocurrency, $HAWK, which launched on the Solana blockchain. They assured followers that the coin complies with securities laws and isn’t just a quick cash grab.
However, the cryptocurrency community is skeptical. Following its launch, the value of $HAWK surged by an astonishing 900%, bringing its market cap to nearly half a billion dollars. But this rapid rise was short-lived; within hours, the price plummeted by about 95%. Although the market cap has seen a slight recovery, reaching around $28 million, concerns have arisen over the legitimacy of the coin, with accusations of it being a pump-and-dump scheme or “rug pull.”
Many observers pointed out signs of insiders selling off their tokens for substantial profits, raising alarms about the operations behind the project. A significant wallet reportedly acquired 17.5% of the total supply and flipped it for $1.3 million within just 90 minutes. Analysis from Bubblemaps revealed that 96% of $HAWK’s distribution was concentrated in a small number of linked wallets, indicating a coordinated effort.
While the volatility of cryptocurrencies often contains risks, Welch’s journey exemplifies the blend of entertainment and finance prevalent in today’s digital landscape. As cryptocurrencies continue to evolve and capture attention, the correlation between influencers and financial innovation is likely to grow stronger.
Summary: Haliey Welch, a viral star and influencer, has recently entered the cryptocurrency space with the launch of $HAWK, a new coin on the Solana blockchain. Despite an initial surge in value, the coin’s price swiftly collapsed, raising suspicions of foul play within the market. The story highlights the risks and intrigue surrounding the intersection of social media fame and crypto investments.
This situation serves as a reminder for potential investors to conduct thorough research and approach the cryptocurrency market with caution, particularly when influenced by celebrities.