As a seasoned crypto investor with over a decade of experience, I must admit that the sudden and drastic crash of HAWK memecoin has left me feeling a bit jaded. The speed at which this coin skyrocketed and then plummeted is reminiscent of a rollercoaster ride I took once – exhilarating at first, but nauseating in the end.
The popular cryptocurrency, Hawk Tuah girl Haliey Welch’s HAWK memecoin, has stirred up debate due to its value plummeting by more than 90% in just a few hours. One of the main causes for the sudden drop in HAWK’s price was an accusation of unethical practices, such as suspected insider trading and market manipulation.
At 10 PM UTC on December 4th, the memecoin HAWK was introduced, and it rapidly soared by more than 900%, reaching a market capitalization of $490 million. But just hours later, the memecoin’s price plummeted by almost 91% following allegations that spread among investors.
According to DEXScreener’s information, the cryptocurrency HAWK initially went on sale for $0.005492. It then experienced a significant surge (or “pump”) to reach $0.04916, but later suffered a drop or “crash” in price.
According to on-chain records, certain traders made substantial profits by offloading approximately 135 million HAWK tokens at opportune moments, raking in more than $1.3 million from a single transaction.
According to reports from the community, certain in-house investors and strategic buyers collectively hold more than 80% of the HAWK tokens. However, Welch has refuted these claims, stating that no such events took place and that no tokens were allocated to Key Opinion Leaders (KOLs).
As a crypto investor, I’ve heard rumors circulating within our community about Hailey Welch. Some speculate that the introduction of her new coin, HAWK, could potentially lead to legal complications for her. This is due to a number of investors who lost funds in her previous memecoin ventures filing complaints with the SEC, alleging misconduct or mismanagement. It’s essential to keep an eye on these developments as they unfold.
Hailey Welch’s social media content drew a lot of discussion about her possible connection to controlled wallets, as many posts on platform X were flagged due to community remarks claiming that over 96% of HAWK tokens are owned by just ten interconnected wallets who have been gradually selling off their holdings since the token’s launch.
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2024-12-05 11:32