The post Hawk Tuah Price Crashes – Best Meme Coin To Buy The Dip? appeared on BitcoinEthereumNews.com.

The new Hawk Tuah meme coin crashed today on Thursday, squandering all of yesterday’s gains. The meme coin now has a market capitalization of just over $500k, as compared to the $2.7 million all-time high valuation that it recorded yesterday. The meme coin is down nearly 72% over the past 24 hours, despite some recovery in the past few hours. However, another new meme coin – Base Dawgz (DAWGZ) – is stealing the spotlight from HAWK. It has already raised over $2.8 million in its ongoing presale, more than Hawk Tuah’s all-time high. The strong early demand has impressed several deep-pocketed investors, some of whom are aiming for 100x returns with DAWGZ. Others believe that it is one of the best meme coins to buy now. Hawk Tuah Price Crashes – Is It Going To Zero? The Hawk Tuah price is currently trading at $0.00053, down nearly 81% from its all-time high.  Initially, the token displayed all the makings of being the next big meme coin. It is based on the Hawk Tuah meme that went viral in June and has become a part of pop culture since. The meme coin became so popular that it even featured in CoinMarketCap’s trending tokens list, sparked by its explosive yesterday. Popular crypto tracking platform DEXTools has also given a project reliability score of 90 to HAWK, which gave a boost to its legitimacy. Additionally, popular crypto influencers and YouTubers covered its rise to prominence.  However, Hawk Tuah’s decline underscores the major issue associated with topical meme coins. Considering that these tokens do not offer any utility, they tend to display pump-and-dump price action. Indeed, investors have no incentive to hold HAWK for the long term. The bulls would hope that the meme coin makes a bullish recovery. Indeed, the token has surged…

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Filed under: News - @ July 27, 2024 4:14 pm