Haliey Welch, often referred to as the “Hawk tuah girl,” has recently made headlines by launching her own memecoin. However, the cryptocurrency’s debut was met with significant volatility. On Wednesday evening, the 22-year-old social media influencer announced the launch on X, sharing a brief video of her excitement for the new venture.
Initially, Welch’s token surged to an impressive valuation of $500 million but quickly crashed to under $60 million within a mere 20 minutes. This rapid decline has drawn criticism, with some accusing Welch of orchestrating a fraudulent scheme. In response to the backlash, she clarified via social media that her team had made efforts to mitigate the impact of potential “snipers” targeting the initial launch by instituting high fees, and asserted that they had not sold any tokens.
Before the launch, Welch expressed that her memecoin was “not just a cash grab,” and mentioned her previous skepticism towards cryptocurrency. She had once considered it a “scam” and a risky investment, but her views appear to have shifted since she now embraces the potential of the digital currency.
Welch’s notoriety isn’t limited to her cryptocurrency endeavors. She gained significant public attention earlier this year due to an explicit comment made online. However, she is also making strides in philanthropy; she recently co-founded a nonprofit organization aimed at raising awareness and funds for animal charities across the United States. Reflecting on her journey, Welch stated on the nonprofit’s website, “Ever since my life changed so publicly, I realized there had to be a reason for it.” She emphasizes the deep connection she has with animals, noting that they provided support during challenging times in her life.
While the launch of her memecoin may have faced hurdles, Welch’s commitment to giving back through her nonprofit highlights a positive direction she is taking in her public life. As the cryptocurrency landscape continues to evolve, it will be interesting to see how Welch leverages her platform for future endeavors, both within the world of digital currencies and in her philanthropic efforts.