HAWK Memecoin Launch Plummets from $490 Million to $27 Million Market Cap
This is a segment from the 0xResearch newsletter.
Coffeezilla: “This is one of the most miserable, horrible launches I’ve ever seen in my life…”
Haliey Welch: <em“Okay, then why the fuck are you on then?”
This exchange occurred during an X Spaces session for the HAWK memecoin launch by Haliey Welch, known as “The Hawk Tuah Girl.”
Most memecoin launches fail to gain traction, but HAWK experienced a rapid decline. It launched with a $490 million market cap and plummeted to $64 million within 30 minutes.
As of this writing, HAWK's market cap has further declined to $27 million.
HAWK’s tokenomics show that only 2% was allocated to the public, while 17% was designated for "Strategic Allocation" for KOLs, fully unlocked at token generation.
Welch has stated that the internal team did not sell any tokens; however, on-chain data indicates otherwise. According to Bubblemaps, 96% of the token supply was concentrated in a related cluster.
In response to the situation, an alternative memecoin called “Straight Tuah Prison” (TUAH) launched and has reached a market cap of $12.3 million.