Haliey Welch, popularly known for the viral “Hawk Tuah” meme, is under fire after her new cryptocurrency saw a drastic drop in value. Initially reaching a Market cap of $490 million shortly after its launch, the coin plummeted by over 95% within hours. Critics, including YouTube investigator Coffeezilla, are accusing her of possibly orchestrating a “pump and dump” scheme, where creators hype up a currency only to profit by selling at its peak. Welch denies these allegations, stating her team hasn’t sold any tokens. The controversy follows a trend where celebrities in the crypto space face skepticism and backlash. Welch initially started her venture to combat scam coins impersonating her.
Haliey Welch’s Cryptocurrency Faces Backlash Amid Plummeting Value
Haliey Welch, famously known as the “Hawk Tuah Girl,” is under fire after her newly launched cryptocurrency named “Hawk” saw a dramatic drop in value. Just hours after its debut, the coin achieved a staggering Market cap of $490 million, but it quickly plummeted by over 95%, leaving fans and investors outraged.
Critics, including popular YouTube investigator Coffeezilla, have accused Welch of orchestrating a “pump and dump” scheme. This involves inflating the price of a cryptocurrency to attract buyers before selling off for profit. Despite strong allegations, Welch has claimed that her team did not sell any of their tokens.
Details of the Launch and the Fallout
Launched on the Solana blockchain around 10 PM GMT, the Hawk coin experienced a rapid rise followed by a swift drop to approximately $60 million just 20 minutes later. Investors have expressed feelings of betrayal, likening the situation to a “rug pull,” where promoters disappear after drawing in buyers.
In a statement posted on social media, Welch asserted that her team worked to prevent unethical trading practices, claiming they imposed higher fees to deter “snipers” — traders who profit from quick price movements. Nonetheless, a community note has raised doubts about her claims, suggesting her team was selling Hawk coins shortly after the launch.
Who is Haliey Welch?
Haliey Welch, from Belfast, Tennessee, gained fame after her quirky “hawk tuah” video went viral. This video showcased her unique personality and led to a significant online following. She has since ventured into merchandise and even launched a podcast.
While meme coins like Hawk have gained popularity due to their playful appeal, they also come with high risks. Many young investors are drawn to these coins without fully understanding the potential for loss.
In 2021, other celebrities in the crypto space faced backlash for similar situations, highlighting the need for caution when investing in this volatile Market. With the cryptocurrency world evolving rapidly, Welch’s story serves as a cautionary tale for aspiring investors and influencers alike.
In summary, the controversy surrounding Haliey Welch’s Hawk cryptocurrency has raised important questions about accountability in the crypto space and the ethical responsibilities of those launching new digital currencies.
What is Online Star Faces Crypto Coin?
Online Star Faces Crypto Coin is a digital currency associated with online influencers or stars. It aims to create a community by connecting fans with their favorite online personalities through transactions and rewards.
Why is there criticism of Online Star Faces Crypto Coin?
Critics argue that the coin lacks transparency and security. Some people feel that its value is not stable, making it risky for investors. Others question the real benefits for users.
How can I get Online Star Faces Crypto Coin?
You can obtain this coin by purchasing it on crypto exchanges where it’s listed. Additionally, you might earn it through engagements with participating online stars.
Is Online Star Faces Crypto Coin safe to invest in?
Like any cryptocurrency, investing in Online Star Faces Crypto Coin comes with risks. It’s essential to do your research and understand the Market before investing.
What should I consider before investing in Online Star Faces Crypto Coin?
Before investing, think about the coin’s history, Market trends, and the team behind it. Also, consider your financial goals and how much risk you are willing to take.
