Published on: November 26, 2024, 05:56h.
Last updated on: November 26, 2024, 05:56h.
Hailey Welch, also known as the “Hawk Tuah girl,” has entered the world of memecoins, causing some controversy within the cryptocurrency community.
Welch, who gained online notoriety in June for her viral video, announced the upcoming launch of the memecoin HAWK on X (formerly Twitter), which will be traded on the solana blockchain.
Memecoins are cryptocurrencies that derive their value from internet trends or famous personalities. While some have seen success, many view them as highly speculative assets with little real-world utility.
Following bitcoin’s surge and the rise of memecoins, there has been a surge of interest in these assets. However, many investors remain cautious due to the high levels of speculation and volatility associated with memecoins.
Despite the hype surrounding HAWK, some in the crypto community are skeptical, expressing concerns about the token’s legitimacy and potential for scams.
Concerns About Hawk Tuah Rug Pull
Some users fear that HAWK could be a “rug pull,” a term used to describe projects where the creators suddenly abandon the project, leaving investors with worthless tokens.
Rug pulls often involve deceptive tactics to attract investors, with some even using trusted figures to gain credibility or promising unrealistic returns.
Welch responded to these concerns, denying allegations of insider trading and assuring users that there will be transparency in the project.
Describing herself as the “queen of memes” on X, Welch’s entry into the crypto space aligns with her internet persona. Her partnership with Jake Paul’s Betr could help promote HAWK and engage with the community, key factors in the success of memecoins.
Gaming and Memecoins
While Welch is primarily known for her internet fame, the gaming industry has also seen interactions with memecoins.
Recently, DraftKings personality Taylor Mathis promoted the memecoin “TAYLOR,” resulting in controversy over its value and subsequent price crash. This incident led to speculation about Mathis’ relationship with DraftKings and her social media activities.
Following the TAYLOR controversy, Mathis’ social media accounts were briefly locked, raising questions about her ties to DraftKings and the impact of the memecoin promotion.