You might think that people would know better by now not to dabble in memecoins. And yet, the peddlers of these shitcoins continue to milk crypto novices in what is, in reality, still an arena tailored for outright fraud. Look no further than the recent disastrous launch of the Hawk Tuah coin and the blatantly blasé attitude of the progenitor of this saga, the influencer Haliey Welch.
For the benefit of those who might not be aware, the Hawk Tuah coin debuted on the 04th of December with rip-roaring gains and a peak market capitalization of $490 million. However, within three hours, the memecoin's price plunged by a whopping 91 percent amid a coordinated dump by insider wallets and snipers - entities that try to grab the maximum possible supply of a given coin at launch.
The YouTube channel Voidzilla has published an excellent exposé on the alleged Hawk Tuah coin rug pull. Do check it out.
Hawk Tuah girl abruptly exits mid question about her scam with “Anywho I'm gonna go to bed” 🤣 https://t.co/CDWvMWlaTN pic.twitter.com/097hN92lS5
— Financelot (@FinanceLancelot) December 6, 2024
This brings us to the crux of the matter. Amid vociferous profession of anger from investors who got burnt in the Hawk Tuah coin's post-launch swoon, Welch deigned to host a live X space session. However, during a particularly testy outburst from one of the speakers, Welch abruptly quit the session by declaring:
"I'm gonna go to bed, and I'll see you guys tomorrow."
This expression of chronic indifference to the plight of burnt investors might just be the wake-up call that is needed to get people to stop investing in memecoins.
For the benefit of those who might not be aware, Welch became an internet sensation over the past summer when she was asked in a TikTok video which "move in bed makes a man go crazy," to which she replied, "you gotta give him that hawk tuah."
The buzz generated by that response allowed Welch to sell her branded merchandise and even launch a podcast, unironically dubbed "Talk Tuah," in September, culminating in the launch of the Hawk Tuah memecoin in December.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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