Fraud or just another influencer-led meme coin gone bad? That’s the painful question investors are facing in the aftermath of the HAWK meme coin two days ago.

But did Haliey Welch and her team pull a classic rug pull, or was this simply the impact of FUD hitting a volatile meme coin?

Either way, the HAWK story is another lesson in how to avoid crypto scams, while Flockerz (FLOCK) shows the way forward for well-researched meme coin projects.

A Meme Coin Fit for a Queen

Haliey Welch, widely recognized as the ‘Hawk Tuah Girl,’ became an internet celebrity in 2024. She’s become a significant crypto supporter, buying DOGE and generally becoming a meme coin fan.

So it wasn’t a surprise when the self-proclaimed ‘Queen of Memes’ made plans to launch her own meme coin. 

Dubbed HAWK, the token launched on December 4, 2024, via the Solana blockchain through OverHere. 

HAWK Collapses Spectacularly

The cryptocurrency experienced an initial surge, reaching a market capitalization of $500M, but swiftly plummeted by over 95% under steady selling pressure.

Eventually, the market cap stabilized and currently sits at $31M, according to CoinMarketCap.

What happened?

This rapid decline led to allegations of a ‘pump-and-dump’ scheme, where insiders inflate an asset’s value through promotion and then sell off holdings for profit, leaving other investors with losses. 

Welch denied these claims, stating on social media that her team hadn’t sold any tokens and had implemented high initial fees to deter early traders from manipulating the launch.

Most investors found those claims questionable, at best. Blockchain explorers demonstrated huge concentrations of tokens being held in and then sold from a small number of wallets. Info from

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Author: Bitcoinist