Hawk Tuah Coin: Everything You Need to Know

Bittime - Hawk Tuah Coin ($HAWK) is a memecoin that was initially predicted to have great potential but ended in controversy. So, what is Hawk Tuah Coin? Follow this article to find out!

This coin was launched by Haliey Welch, an influencer who went viral on social media thanks to her TikTok video saying the phrase "Hawk Tuah." However, within just hours of launch, the value of $HAWK saw a drastic fall. 

This sparked a wave of criticism and accusations of a fraudulent scheme. What really happened? Let's dig deeper.

What Is Hawk Tuah Coin?

Hawk Tuah Coin is a meme-based cryptocurrency created on the Solana blockchain network. This coin was inspired by the popularity of Haliey Welch, who was known as the "Hawk Tuah Girl" after her interview video on YouTube went viral. 

With a similar concept to Dogecoin, $HAWK aims to be a memecoin that is not only funny but also valuable to its community.

Welch claims that this project is not just a "cash grab" or a project that only aims to make short profits. He is trying to create a strong ecosystem around Hawk Tuah Coin. However, this hope did not last long after its launch.

Read also: Kanye West's Meme Coin Was Flying Before Crashing, Here's the Explanation!

Hawk Tuah Coin Launching 

Source: X (@HalieyWelchX)

Hawk Tuah Coin was officially launched on December 6, 2024 on the Solana blockchain. Initially, the coin attracted huge attention and within hours, its market capitalization soared to almost $500 million (around IDR 8.25 trillion). 

However, this euphoria only lasted a short time. Shortly after reaching its peak, the price of $HAWK plummeted by 95%. In one day, its market capitalization dropped drastically to just $25 million (around IDR 412.5 billion), causing many investors to suffer huge losses.

Hawk Tuah Coin Controversy

Source: X (@Dannyjokes)

The sharp decline in the price of Hawk Tuah Coin sparked various accusations. Some analysts attribute this failure to poor planning and unfair trading practices. 

Here are some of the main factors that triggered $HAWK's fall:

1. Insider Trading and Sniping

About 80-90% of the coin supply is controlled by “snipers,” i.e. individuals who buy large quantities at launch and sell them at high prices before eventually dumping them.

It was reported that 17% of the total supply was pre-sold to insiders without restrictions, while only 3% was available to the public.

2. Pump and Dump

Many investors accused the project of being a "pump-and-dump" scheme, in which prices were deliberately pumped high before being sold massively for quick profits.

3. Welch's Lack of Experience in Crypto

Even though he was accompanied by a team of legal advisors and PR, Welch was considered to have little understanding of the crypto industry. Critics say he failed to ask important questions before launching $HAWK.

Read also: MELANIA Coin and TRUMP Coin: What is Meme Coin Really?

This failure also attracted the attention of the Securities and Exchange Commission (SEC), which reportedly received various complaints from investors who felt disadvantaged. Some victims even collaborate with law firms such as Burwick Law to seek compensation for the losses they have experienced.

Hawk Tuah Girl Defense

Responding to the wave of criticism and accusations, Haliey Welch immediately provided clarification via social media. In a post on the X platform, he emphasized that neither he nor his team had ever sold any tokens. 

He also explained that his team was trying to prevent sniping practices by setting high transaction fees at the start of the launch.

"We tried our best to stop snipers by setting high costs at the start of the launch. Now, costs have been lowered," Welch wrote in his statement. 

He also added that no influencers or key opinion leaders (KOL) were given free tokens to promote this coin.

However, his defense did little to calm public anger. Critics such as Stephen Findeisen, known as Coffeezilla, still rate the launch as one of the worst in memecoin history. 

He said that Welch may not understand the complexity of the crypto market, but also assessed that there may be financial motivations that do not take into account the risks for investors.

Read also: Top 5 Best Memecoins on the SUI Network, Check Before Pumping!

Conclusion

The Hawk Tuah Coin case is a harsh reminder for anyone who wants to invest in the crypto world. Especially, in meme-based projects that don't have clear fundamentals. 

This failure also shows how a combination of inexperience, high speculation, and unhealthy trading strategies can quickly destroy the value of a digital asset.

FAQ

1. What is Hawk Tuah Coin?

Hawk Tuah Coin ($HAWK) is a Solana blockchain-based memecoin launched by Haliey Welch, a viral influencer known as the “Hawk Tuah Girl.”

2. Why Hawk Coin Tuah Fails?

The coin experienced a drastic fall due to allegations of insider trading, pump-and-dump practices, as well as huge speculation from investors trying to make quick profits.

3. Is Hawk Tuah Coin A Scam?

Although Welch denied allegations of fraud, many investors and analysts considered the project to have signs of an unhealthy scheme, including unfair token allocation and high speculation.

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Reference 

Techstory, Everything You Need to Know About the Hawk Tuah Coin Collapse, accessed March 22, 2025.

Author: Y