Viral Internet Personality Hailey Welch’s Silence Sparks Concern Amid Memecoin Debacle
Hailey Welch, also known as the "Hawk Tuah" girl, has been mysteriously silent on social media since last week’s highly publicized introduction of a memecoin that has since plummeted by an astonishing 95%. The HAWK token initially skyrocketed to a $500 million market cap before rapidly tumbling under intense selling pressure from early investors, overwhelming demand from newcomers. As of now, the market cap is hovering around a meager $20 million, and trading volume has dwindled to less than $500,000 over the past 24 hours.
The Rise and Fall of the HAWK Token
The debut of the HAWK token was met with widespread criticism, culminating in a YouTube video by internet sleuth Coffeezilla titled "exposing the hawk tuah scam." In response to the backlash, Welch hosted an X Spaces call on Thursday that featured members of the overHere team, the company behind the memecoin launch. However, the call abruptly ended following a heated debate when Welch stated: "I’m going to bed, I’ll speak to y’all in the morning." Since then, Welch has remained eerily silent.
Investors Continue to Sell as Liquidity Dwindles
Welch’s manager and the team behind the memecoin have yet to respond to numerous requests for comment from CoinDesk. In a response to Coffeezilla, Welch’s lawyer stated that "50% of the net proceeds was from the allocation of tokens." And that "out of her 50% she would have to pay her non-crypto team too, so in reality, she would likely only hold 3.5% of the tokens withdrawn (if at all) on the above schedule.” The token is now in a precarious death spiral as beleaguered investors, of whom there are 14,355 official holders, continue to sell into the rapidly dwindling $2 million pool of liquidity.
Blockchain Data Reveals Profiteering
Block chain data reveals that one wallet made a staggering $365,000 in profit over 23 transactions on the day HAWK was launched. Another wallet made a substantial $65,000. Unfortunately for the majority of investors who bought on the open market, they are currently at a significant loss.
The Future of the HAWK Token Remains Uncertain
As the situation continues to unfold, it remains unclear whether Welch will return to social media or provide any updates regarding her involvement with the memecoin. The future of the HAWK token and its investors hangs in the balance as the market cap continues to plummet and trading volume dwindles.
Conclusion
The sudden silence of Hailey Welch amid the memecoin debacle has sparked concern among investors and fans alike. As the situation continues to unfold, it is essential for all parties involved to provide transparency and clarity regarding their involvement with the HAWK token. The future of the token and its investors remains uncertain, and only time will tell what will become of this highly publicized memecoin.