Haliey Welch, widely recognized as “Hawk Tuah,” transformed her fleeting viral fame into a formidable media empire. With a burgeoning social media presence (230K followers on Instagram), lucrative brand partnerships, and the successful podcast Talk Tuah, Welch appeared to be transitioning from internet personality to business mogul.

That was until the 22-year-old launched her memecoin, $HAWK. Now Hawk Tuah isn’t flying so high.

$HAWK was launched on the Solana blockchain with considerable fanfare, initially skyrocketing to a $491 million market cap. This meteoric rise was short-lived, as the coin’s valuation plummeted to under $20 million, according to data from DEX Screener.

The rapid decline raises questions about the project’s legitimacy and the motives behind its management. A now-deleted Twitter Spaces discussion further intensified suspicions, leading to widespread allegations that $HAWK is nothing more than a “celebrity rugpull.”

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Author: Azeem Khan