Paige Spiranac, known for her social media influence, has issued a warning against creating memecoins following the rapid rise and fall of Haliey Welch's (Hawk Tuah Girl) cryptocurrency, Hawk. The coin's market cap skyrocketed to $490 million before plummeting to $41.7 million, amid controversy over 'snipers' controlling the majority of tokens.
Haliey Welch, better known on social media as “Hawk Tuah Girl,” has capitalized on her recent fame in numerous ways,Welch launched her own cryptocurrency Wednesday, and it had a pretty good surge just hours into the launch, hitting a market cap of $490 million, However, within hours, the coin known as Hawk plummeted to just $41.7 million in valuation.
With controversy swirling around the coin, Spiranac posted on X with a slight jab at Welch and her team. Bubblemaps, a site that analyzes data from the blockchain, found a few people owned the vast majority of Hawk, which led to controversy about “snipers,” or investors who move quickly to buy a majority of new meme tokens when they launch.
Golf influencer Paige Spiranac said on X: “If I’ve learned anything, it’s to never release a memecoin.”Haliey Welch, known on social media as “Hawk Tuah Girl,” launched her own cryptocurrency, and despite surging up to $490 million hours after it launched, it then plummeted to $41.7 million in value, according to Cointelegraph.
MEMECOIN CRYPTOCURRENCY SOCIAL MEDIA SNIPERS MARKET COLLAPSE
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