Golf influencer Paige Spiranac learned a lesson today: stay away from creating a memecoin.
Haliey Welch, better known as “Hawk Tuah Girl” on social media, has exploited her recent fame in a variety of ways, but her latest attempt failed and failed before it could even take off.
Welch launched her own cryptocurrency on Wednesday, and it saw a pretty good surge just hours after launch, reaching a market cap of $490 million, according to Cointelegraph, which cited data from DexScreener.
But within hours, the value of the coin known as Hawk plummeted to just $41.7 million.
As the controversy swirled around the coin, Spiranac posted on X with a slight dig at Welch and her team.
“If I’ve learned anything, it’s to never release a memecoin,” the post reads.
Bubblemaps, a website that analyzes data from the blockchain, found that a few people owned the vast majority of Hawk, sparking controversy over “snipers,” or investors acting quickly to grab a majority of the new meme tokens buy when they come on the market.
Welch spoke up
The 22-year-old overnight star told Fortune that Hawk wasn’t intended as a “money grab.”
She said that while she used to view cryptocurrency as a scam, she changed her mind because it was a “fun way to get my fans to interact.”
