Hawk Tuah Girl’s Meme Coin Faces Allegations of Rug Pull, Project Leads Deny Wrongdoing
The post Hawk Tuah Girl’s Meme Coin Faces Allegations of Rug Pull, Project Leads Deny Wrongdoing appeared on BitcoinEthereumNews.com.
The “Hawk Tuah” girl launched a meme coin, and—anyone? Any guesses? Tell me if you’ve heard this one before: allegations are swirling online that the project has been rug pulled, while the team behind the crypto token, HAWK, is adamantly denying any wrongdoing. On Wednesday evening, Hailey Welch, Ms. Tuah herself, launched the HAWK token to much fanfare. Within less than 15 minutes, the token climbed to a market capitalization of $490 million before immediately collapsing over 93% in value. Apparently, a web of interconnected wallets sold off vast sums of the token as soon as the public began buying it—and pocketed over $3 million thanks to the maneuver. Bubblemaps, the on-chain data visualization company, determined on Thursday that 285 wallets collectively acquired some 96% of HAWK’s supply during token presales and giftings. Within the first minutes of HAWK’s debut, the majority of those wallets dumped their tokens to make a quick profit. 1/ We found that 285 investors joined $HAWK presale • 89 wallets sold 100%• 47 wallets sold ≥ 50%• 19 wallets sold < 50%• 130 wallets sold 0 💰 Total sold: $3.3M 🧵 ↓https://t.co/b3GpKDoHfG — Bubblemaps (@bubblemaps) December 5, 2024 Outrage immediately swirled on Crypto Twitter over what appeared to be a classic meme coin rug pull. Welch’s team quickly pushed back against the allegations, claiming the observed sell-offs were standard elements of HAWK’s tokenomics roadmap. “Hailey’s team has sold absolutely no tokens whatsoever,” the team maintained. Welch, meanwhile, claimed no single influencer or KOL (“Key Opinion Leader”) was gifted free tokens. There has been a wild amount of fud circulating, let us explain: The main piece going around @X is the 96% cluster seen on @bubblemaps which shows $HAWK tokens being sent by the deployer address (xxxx), to the related addresses, according to the tokenomics that…
Filed under: News - @ December 6, 2024 11:18 pm