Web character Haliey Welch, herself of meme fame, is dealing with backlash and severe accusations after the implosion of her HAWK memecoin.
In line with a report from the BBC, the Discuss Tuah host’s Solana (SOL)-based memecoin HAWK lost more than 95% of its worth inside hours after launch, prompting YouTuber Coffeezilla to accuse Welch of executing a pump-and-dump scheme.
A pump-and-dump scheme artificially inflates a coin’s worth via hype or misinformation. Then, holders of that coin who purchased the token low-cost (or received it without cost), promote these tokens at a excessive worth, crashing the value.
In a copy-and-pasted assertion on the social media platform X, Welch has denied any allegations of wrongdoing.
“Copy and pasting:
Hawkanomics:
Workforce hasn’t bought one token and never 1 KOL (key opinion chief) was given 1 free token
We tried to cease snipers as greatest we might via excessive charges within the begin of launch on MeteoraAG
Charges have now been dropped”
Nonetheless, in accordance with a blockchain investigator and self-described “on-chain demon” who goes by the pseudonym Zeus, Welch’s claims ring untrue.
“The workforce hasn’t bought one token:”
In a conversation with Welch on The Matt Kohrs Present, Coffeezilla instructed the Discuss Tuah host immediately that her HAWK launch constituted “the worst tokenomics I’ve ever seen”, accusing Welch and her workforce of taking part in insider buying and selling, and including his opinion that the launch was, certainly, “a rip-off.”
The authorities haven’t introduced any formal investigations into the scenario as of writing. Nonetheless, if any of the alleged expenses are dropped at Welch and her workforce, she might face severe and extreme authorized scrutiny from the U.S. Securities and Change Fee (SEC).
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl usually are not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you might incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please observe that The Every day Hodl participates in internet online affiliate marketing.
Featured Picture: Shutterstock/Voger Design/Andy Chipus
