Hawk Tuah Memecoin Fiasco: From Launch to Controversy
Haliey Welch, known for her viral social media presence, launched a cryptocurrency token called HAWK, which quickly turned into a suspected pump-and-dump scheme. Despite Welch's claims that the token was not a cash grab, the majority of HAWK tokens were sold off shortly after launch, causing its value to plummet. This incident highlights the current culture of monetizing viral fame and the pervasive "bag-chasing" mentality in social media, where attention is rapidly converted into financial gain, often through dubious means like cryptocurrency speculation.
