Hawk Tuah Girl claims no tokens sold as memecoin launch sparks crypto community backlash

Haliey Welch, a viral internet personality known as the Hawk Tuah Girl, finds herself embroiled in controversy following the launch of her memecoin HAWK on the Solana blockchain.

The token’s rapid rise and fall have drawn sharp criticism from the crypto community, with accusations of unethical practices that could attract regulatory attraction.

HAWK memecoin

On Dec. 4, the memecoin debuted on the Solana blockchain to much acclaim and, in a matter of minutes, surged to a $500 million market cap, only to nosedive to as low as $60 million shortly after.

This volatile performance left many investors fuming as speculation grew that the token might have been designed for a pump-and-dump scheme—a tactic in which malicious developers profit from artificially inflated prices before abandoning the project.

Blockchain analysis from Bubblemaps showed further concerning details about HAWK’s launch. According to the firm, nearly 96% of the token’s supply was reportedly controlled by insider wallets. Such concentrated holdings are often associated with market manipulation, further fueling skepticism about the token’s legitimacy.

In an X Spaces hosted by the project’s team, on-chain investigator Coffeezilla slammed Welch and her team for insider trading. He stated:

“You guys generated over a million dollars in fees, while your fans got rug pulled. There were snipers, but there was also insider trading directly linked to your creator accounts.”

The HAWK situation was reminiscent of earlier celebrity token launches on Solana that failed. Earlier this year, multiple artists and influencers issued tokens during a brief trend, but many of these assets lost almost all their value within hours and days.

Critics argue that the HAWK token has followed a similar trajectory, highlighting the risks of investing in unproven celebrity-endorsed tokens.