Haliey Welch, widely recognized as the “Hawk tuah girl,” has recently ventured into the cryptocurrency world by launching her own memecoin. The announcement came on a Wednesday evening when the 22-year-old social media influencer excitedly shared the news on X, alongside a brief video expressing her enthusiasm for the launch.
Initially, Welch’s token gained significant traction, reaching a remarkable valuation of $500 million. However, shortly thereafter, it experienced a dramatic decline, dropping to less than $60 million within just 20 minutes. This steep plunge led to criticism and accusations of potential cryptocurrency fraud directed at Welch.
In response to these allegations, Welch took to social media once more, defending her actions. She explained that her team had made efforts to mitigate high-frequency trading, often referred to as “sniping,” during the launch. Welch asserted that her team had not sold any tokens, aiming to assure her followers of her intentions.
Prior to the launch, Welch expressed that her memecoin was intended for more than just profit, despite her earlier skepticism about cryptocurrency, which she had likened to a scam and an opportunity for financial loss. Her perspective appears to have shifted as she became involved in the crypto space.
Notably, Welch gained notoriety earlier this summer due to a controversial remark but has since directed her focus towards philanthropic efforts. She co-founded a nonprofit organization called “Haliey Welch’s Paws Across America,” aimed at raising awareness and funds for animal charities across the United States. Reflecting on her journey, Welch remarked that her pets have always been a source of comfort, and her newfound financial advantages would be used to support animals in need.
This incident, while marred by controversy, may serve as a pivotal moment for Welch, offering her the opportunity to channel her platform into positive change through her nonprofit work.
Summary: Haliey Welch, known as the “Hawk tuah girl,” launched her memecoin with initial success but faced a rapid decline in value, triggering accusations of fraud. Despite the controversy, she aims to use her platform for good through her animal charity initiative, highlighting her commitment to philanthropy amidst challenges.