Famous Hawk Tuah girl Haliey Welch’s HAWK memecoin has sparked controversy as its price plummets by over 90% in just a few hours. One of the main reasons for the HAWK price crash was the discovery of suspected snipers and insiders.
The HAWK memecoin was launched on December 4th at 22:00 UTC and quickly rose by over 900%, reaching a market cap of $490 million. However, the memecoin price crashed by almost 91% in a matter of hours after allegations began to spread among investors.
According to DEXScreener data, HAWK was launched at a price of $0.005492 and rose to $0.04916 before crashing.
Onchain data shows that some snipers succeeded the most by selling over 135 million HAWK tokens at the right time and winning over $1.3 million from a single trade.
The community takeovers say that some insider wallets and snipers collectively own over 80% of the HAWK token supply. Although Welch denied that such things did not happen, they also did not assign tokens to the KOLs.
In addition, some users have on
Hailey Welch’s social media posts have also been bombarded with comments about her possible involvement in insider trading. Many of their contributions
Read: Why Bitcoin Fell to $65,000 in South Korea?
