Hawk Tuah Memecoin Faces Backlash After Rapid Crash Post-Launch
Haliey "Hawk Tuah Girl" Welch's newly launched cryptocurrency, Hawkcoin, experienced a dramatic crash within hours of its release, dropping from a market value of $490 million to $28 million. This rapid decline has led to speculation of a pump and dump scheme, which Welch denies, attributing the crash to "snipers"—investors who quickly buy and sell to profit before a crash. Despite the controversy, Welch insists her team did not manipulate the coin's value.