00:00My Hawk meme coin is live!
00:02On December 4th, 2024, Hayley Welch, better known as Hawk to a girl,
00:06launched her own meme coin, HawkCoin, on the Solana blockchain.
00:09Within minutes, the coin skyrocketed to a $500 million valuation.
00:13But in a shocking turn of events, or maybe not so shocking,
00:16it crashed to $60 million just 20 minutes later.
00:19The internet immediately erupted with accusations of a rug pull.
00:22A scam where developers withdraw liquidity, leaving investors with worthless tokens.
00:27Blockchain data revealed that 96% of HawkCoin's supply was held by just 10 wallets,
00:31fueling suspicions of insider trading and foul play.
00:34Raise my hand.
00:35What coffee, Zilla?
00:37Hey, this is one of the most miserable, horrible launches I've ever seen in my life.
00:42Okay, then why the f*** are you on?
00:44Hayley quickly took to X to defend herself,
00:46claiming that her team hadn't sold a single token.
00:49She blamed, quote, sniping, where early buyers manipulate prices for personal gain,
00:53and said they had implemented high fees to deter such behavior.
00:56Critics weren't convinced.
00:57One viral tweet from a user lamented losing $20,000 on HawkCoin,
01:01while another, more dramatic post claimed,
01:03You took my life savings.
01:05Memes poured in branding the scandal with phrases like
01:07Rugtua and Hawkonomics gone wrong.
01:10In a press release, Welch's manager described HawkCoin as a fun,
01:13secure, and innovative way to connect with her fans.
01:15Welch herself insisted the project wasn't a cash grab,
01:18but admitted she didn't know of any specific perks for token holders.
01:22The backlash was fierce,
01:23with blockchain sleuths pointing out how centralized the token supply was.
01:26Welch and her team claimed no influencers were given free tokens,
01:29and no insiders sold at launch.
01:31But the damage to her reputation was already done.
01:33The situation worsened when Hayley hosted an X space to address the scandal.
01:37Crypto investigator CoffeeZilla joined the session,
01:40pressing Welch on allegations of scamming millions.
01:42Her response?
01:43HawkCoin was meant to be a fun, community-driven project.
01:46Meanwhile, users on Reddit and X continued dissecting the situation.
01:49One viral post read,
01:50Despite her insistence that no tokens were sold by her team,
02:03blockchain data and the rapid collapse of HawkCoin have left many unconvinced.
02:06Critics argue that Welch's lack of understanding
02:08about her own project is proof of either incompetence or deception.
02:12What started as a quirky way to connect with fans turned into a cautionary tale
02:16about meme coins, influencer-led projects, and the unpredictable chaos of cryptocurrency.
02:20She should have taken notes from her last podcast, curiously titled,
02:23How to Avoid Getting Cancelled.
02:25We're all curious to, uh, see how this all plays out.
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