The famous Hawk Tuah girl Haliey Welch’s HAWK memecoin has sparked controversy as its price dumps over 90% within hours. One of the key reasons behind HAWK price crashing was a finding of alleged snipers and insiders.&nbsp;
HAWK memecoin was launched at 10 PM UTC on 4 December and it quickly surged over 900% and accumulated a market cap of $490 million. However, the memecoin price crashed nearly 91% in hours after accusations started to spread among investors.
As per DEXScreener <a href="https://dexscreener.com/solana/exygvxvrvujjryo65vyuhlaccxhwyztkqa7jxqit2tvr" target="_blank" rel="noopener noreferrer nofollow">data</a>, HAWK was launched at the price of $0.005492 and it pumped to $0.04916 before crashing down.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc4_SdhzXSguwEMo6HuiIpVyE8R8zVAMtd_qcvQw1qIY57unV4H7K_vZ-NsxH__5baH6QGbESVCp7wMWNLfMDij4_W07OsvGKAc29pVibwhLaRzDY9kT5NGhIaOz0aGwvCNNeKY?key=1WRbRWVbNsX8LbccsTTLYwGP" alt="Hawk Tuah (HAWK) Memecoin – DexSceener&nbsp;">
 <figcaption class="wp-element-caption">Hawk Tuah (HAWK) Memecoin – DexScreener&nbsp;
 </figcaption>
</figure>
Onchain data shows that some snipers managed to benefit the most with selling over 135 million HAWK tokens at the right time and profiting over $1.3 million from single trade.&nbsp;
The acquisitions from the community claims that some insider wallets and snipers combined have over 80% of the HAWK token supply. Although Welch denied that non such things have happened nor did they have assigned any tokens to KOLs.&nbsp;
Besides, some users on X have also claimed that the launch of HAWK could put Hailey Welch in legal tension as several investors who lost money in the memecoin are filing complaints with the SEC.&nbsp;
Hailey Welch’s social media posts were also bombarded with comments on her potential involvement with insider wallets. Many of her posts on X were also flagged by community notes citing that 96% of the HAWK supply is held by 10 inter-connected wallets and they have been selling gradually since the launch.&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Read: <a href="https://www.cryptotimes.io/2024/12/04/bitcoin-dropped-to-65k-in-south-korea/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/12/04/bitcoin-dropped-to-65k-in-south-korea/" rel="noopener noreferrer nofollow">Why Bitcoin Dropped to $65k in South Korea?</a>
</blockquote>

Hawk Tuah girl’s HAWK memecoin dumps 90%, faces backlash

The Crypto Times

Other articles published on Dec 5, 2024

Price Targets Revealed: Will BlockDAG Hit $1, Polkadot Reach $10, and Toncoin Climb to $7?

STEPN GO and adidas launch First-Ever STEPN GO x adidas Physical Shoe Drop

BlackRock’s Bitcoin ETF Shatters Records with $50B in Assets

BTC marks a new milestone by hitting the $100,000 mark

Justin Sun Moves Ethereum, Influencing Market Trends

Tech giants remit ₦2.55T

Join our free newsletter for daily crypto updates!