Haliey Welch, also called the “Hawk Tuah Girl,” became famous from a viral video. She used her fame to start a crypto coin called $HAWK. It became popular fast but crashed just as quickly. This article explains how it started, why it failed, and what we can learn.
Who Is Haliey Welch?
In June 2024, Welch became famous after saying a funny line in a street interview. Her phrase, “You gotta give ’em that ‘hawk tuah’ and spit on that thing!” spread everywhere online. With this fame, she sold merchandise, started a podcast, and made public appearances. Soon, she decided to try crypto.
The Launch of $HAWK Token
In December 2024, Welch launched $HAWK on the Solana blockchain. She called it a memecoin, and many people bought in. The coin quickly reached a market value of nearly $500 million.
Investors rushed in, hoping to make fast money. However, memecoins often rely on hype, and the rapid rise of $HAWK raised concerns about its stability. Many investors did not analyze the token’s structure and risks before jumping in.
The Sudden Crash
Despite the fast success, $HAWK lost almost all its value in hours. The price dropped by over 90%, falling from $490 million to just $25 million. Records showed that a few wallets held most of the tokens. These wallets sold large amounts, making the price drop fast.
This kind of event is called a “pump-and-dump” scheme. Many investors were left in shock as their holdings lost value instantly. The sudden downfall highlighted how quickly crypto assets can change in value, especially when controlled by a few large holders.
Allegations and Legal Issues
Many investors felt tricked. They said Welch and her team planned the price jump just to sell off their shares. Crypto journalist Coffeezilla found that a small group controlled most of the tokens. At least one investor filed a complaint with the U.S. Securities and Exchange Commission (SEC).
A lawsuit was also filed against the creators of $HAWK for selling unregistered securities. Welch was not officially named in the case. The legal complications added to the controversy, and the incident became a cautionary tale for crypto enthusiasts.
Haliey Welch’s Response
Welch denied doing anything wrong. She said she wanted to help investors and even planned to donate some profits to charity. Some people believed her, but many did not. While some supported her, others blamed her for the losses. The controversy made her a debated figure in the crypto space.
Whether she was genuinely unaware of the risks or played a role in the crash remains a matter of speculation. This event shows how celebrities entering the crypto market can lead to unexpected consequences for investors.
Lessons for Crypto Investors
The $HAWK crash teaches important lessons. Investors should always do research before buying any crypto token. Checking who owns most of a coin and understanding the risks involved can prevent losses. Viral trends may seem exciting, but they do not guarantee a good investment.
Memecoins, in particular, are known for their unpredictability. Their prices can rise quickly but can fall just as fast. Before investing, people should consider whether they are willing to lose money. A cautious approach can help avoid major losses in volatile markets.
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Conclusion
Haliey Welch turned internet fame into a crypto project, but the quick crash of $HAWK left many investors with losses. This shows why people should be careful with viral investments. Memecoins often rely on trends, but their value can disappear overnight. As crypto grows, learning from past mistakes can help investors make better choices. Understanding risks, avoiding hype-driven investments, and doing thorough research can protect people from financial loss
