Hawk Tuah Girl's Memecoin Faces Backlash Amid Rug Pull Allegations

Hailey Welch, known as the "Hawk Tuah girl," launched a memecoin called HAWK on the Solana blockchain, which saw its market cap plummet from $490 million to $28.4 million within a day, sparking accusations of a rug pull. Welch denies her team sold any tokens, attributing the drop to market dynamics and high initial fees to deter snipers. Despite her claims of no cash grab intentions, the coin's purpose remains speculative, with no clear benefits for holders.