We all know Haliey Welch, famously known as the “Hawk Tuah Girl,” is obviously rather talented in at least one area, nobody has been denying that. As it turns out Hailey is a lot smarter than anyone on the internet has given her credit for. Hailey has leveraged the fame off her infamous online video and converted that fame into an industry of sorts. There’s been merchandise, paid public appearances and her own podcast called “Talk Tuah” which has cracked the top five on Spotify gaining the young lady quite the following and with it quite the income.
Here’s where it gets good. Hailey has launched her own crypto currency the “Hawk tuah” Coin. The coin was sold prelaunch and rose hugely on opening only to go down (pun intended) 88% fairly soon after opening leaving a lot of people with some big holes in their bank accounts. Essentially some industry traders are calling it a “pump and dump scheme”. There’s even been talk of a lawsuit for insider trading.
Now this is what bugs us here at the National Inquisitor. We’re happy for Haileys online success. There should be more good sports just like her. But seriously, the coin was more or less regarded as a meme-coin. Meme coins are basically launched for entertainment purposes only, nobody in the crypto world takes them seriously as an investment vehicle. To buy meme coins you generally have to be into the crypto thing pretty deeply to even get access to them. So why did experienced traders think this thing would be a gold mine? It was always going to be a punt at best. On launch, the lovely miss Welch’s coin quickly hit a market capitalization of nearly $500 million before immediately plummeting 95% to $25 million as of Thursday afternoon. So yeah a few traders were definitely left out of pocket, but isn’t crypto an assumed risk?
On the converse side of things it would appear there was a massive sell off after opening of the coin by “top market holders” that caused it to crash. Some time after the crash however it did recover somewhere around half its value. I guess we’ll have to dig a little further to see if anyone actually colluded or if it was just natural profit taking or market conditions prevailing with a volatile commodity.
We here at The National Inquisitor wish you best of Hailey! here’s hoping the lawsuit doesn’t get off the ground, much less gain any traction or win.
For more thought provoking articles be sure to keep checking back on The National Inquisitor as regularly as you can!