Cryptocurrency investigator Coffeezilla has strongly criticized the launch of the "Hawk" memecoin, associated with viral internet personality Hawk Tuah girl (Hailey Welch), calling it "one of the most miserable, horrible launches" he had ever witnessed.
The cryptocurrency, which debuted on December 4 at $0.005492, experienced extreme volatility within hours of its launch. While initially surging over 900% in value, the token subsequently crashed by 91%, leading to widespread criticism across social media platforms.
In a Twitter Spaces conversation, Coffeezilla directly confronted Welch about the controversial launch. The criticism was echoed by other prominent internet personalities, including FaZe co-founder Banks, who labeled the memecoin a "scam" and suggested Welch herself had been deceived by bad actors.
Professional golfer-turned-influencer Paige Spiranac also weighed in on the controversy, posting a pointed message on Twitter/X: "If I've learned anything, it's to never release a memecoin."
Welch, who gained internet fame in June 2023 through a viral street interview, has faced mounting backlash from the cryptocurrency community following the token's dramatic price collapse. The incident has reignited discussions about the risks associated with memecoins and celebrity-backed cryptocurrency projects.
The rapid rise and fall of the Hawk token serves as another cautionary tale in the volatile world of cryptocurrency trading, particularly concerning newly launched tokens tied to internet personalities.