Haliey Welch, better known by her viral content as “Hawk Tuah girl,” is facing backlash following the catastrophic collapse of her newly launched memecoin. The cryptocurrency rose to a high of $500 million in market value before falling to less than $60 million in under 20 minutes, leaving investors reeling.
Welch had highly publicized the token on social media, describing it as a community-driven project that was going to see immense growth. But once it reached its peak, the token’s value plummeted, and many accused Welch of running a pump-and-dump scheme. Some critics say Welch used her following to enrich herself, while others are calling for answers and transparency over why the coin failed.
Hi @HalieyWelchX My $35,000 that I purchased of $Hawk is now $2,000 after 10 minutes of buying.
— JIGGA.5mbK (@jiggadrin_) December 4, 2024
I am a huge fan of Hawk Tuah but you took my life savings.
I purchased your coin $Hawk that you were so excited about with my life savings and children’s college education fund as… pic.twitter.com/MRftQ2sT6g
Hawk Tuah launched a meme coin today. Market cap spiked to $500m before collapsing to $60m.
— Trung Phan (@TrungTPhan) December 5, 2024
Users mad insiders were selling and when Hawk Tuah denied it, was Community Noted with a comment she might have to “Talk Tuah judge about this”. Good lord. pic.twitter.com/1J7hDGFm7R
if you bought Hawk Tuah coin you’re a fucking retard and I’m glad you lost all your money
— sidney (@viperdemie) December 5, 2024
As calls for legal action grow louder, Welch has yet to address the controversy, leaving many questioning the legitimacy of influencer-driven cryptocurrencies.
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