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Online investigator and YouTuber Coffeezilla recently questioned the Hawk Tuah girl's memecoin, $HAWK, and her team in a live session on X on December 5, 2024. Coffeezilla said:
"And by the way who made the money from your seventeen percent pre-sale while you're giving a tiny piece of the pie to the public? Like what hell, this is the worst tokenomics I've ever seen and it's a scam. The tokenomics are a scam, that's my opinion."
Hawk Tuah girl Haliey Welch’s $HAWK memecoin launched on December 4, 2024, and became one of the most popular Solana memecoins. According to a report by Coingape dated December 5, 2024, the memecoin achieved an ATH of $0.00004028 at its peak a few hours after it was launched. It also surged more than 10x after its listing price of $0.000007099.
However, Hailey Welch's memecoin dropped by 50% within 20 minutes of being launched and 91% in three hours of the same, garnering a lot of backlash.
Talking about the tokenomics of the $HAWK memecoin, Coffeezilla mentioned in the live session:
"You guys released three percent to Meteora while you have seventeen percent of the token allocation unlocked day one on from your strategic allocation. Are you guys insane? What do you guys think exactly is going to happen when your insiders get sent their tokens?"
Coffeezilla also told Hailey Welch's team that they could say what they wanted about his opinion or "cry defamation," but that was his opinion.
Hawk Tuah girl said she wants to use her memecoin to connect with fans
According to a report by Fortune Crypto citing excerpts from the Hawk Tuah girl's interview with Fortune, dated December 4, 2024, Welch said that her memecoin wasn't "just a cash grab." Speaking about her aim behind launching her memecoin, the internet meme sensation said she was genuinely interested in using her memecoin to connect with her fans.
Additionally, the Hawk Tuah girl also differentiated her memecoin from other celebrities by saying that her team isn't telling people to buy the cryptocurrency and will give free tokens to social media followers and fans who have brought Welch's merchandise. She also mentioned that while she'll own 10% of the memecoin's supply, she won't be able to sell for a year.
In her interview with Fortune, Hailey Welch mentioned that earlier, she used to think of cryptocurrency as a scam and an easy way of losing money. However, she said she changed her mind after attending conferences about Bitcoin in Tennessee and Korea Blockchain Week.
The Hawk Tuah girl also shared that she wasn't aware of the benefits that her memecoin holders would avail of. However, her manager said that the internet sensation's team plans to have "more fan engagements" around the memecoin.
She also told the publication that rapper Lil Pump introduced her to cryptocurrency and that she got an invite to Karate Combat, a crypto-powered fighting league attended by influencers.
According to Coingape's report on the Hawk Tuah girl's memecoin, a crypto investor, Scooter, filed legal action against Hailey Welch and took to X to share the same. Scooter also prompted others to take such action against Welch.
Burwick Law, a New York-based law firm, commented on Scooter's tweet and asked people who had invested in the Hawk Tuah girl's memecoin to connect with them and understand their rights in the situation.
