Hawk Tuah girls Hawk memecoin dumps 90% faces criticism

Popular Hawk Tuah girl Haliey Welch Hawk memecoin has raised controversy as its price downs over 90% within hours.

Hawk price downfall reason was  alleged snipers and insiders.

Hailey Welch social media post were raised with comments on her involvement with insider wallets.

Multiple posts on X were flagged by community notes citing 96% of the Hawk supply held by 10 inter connected wallets and have been selling since launch.

Hawk memecoin was launched at 10 PM UTC on 4 December  and it climbed over 900% and accumulated a market cap of $490 million.

The memecoin price dumped nearly 91% in hours after accusation started to spread among investors.

Hawk was launched at price $0.0005492 and it dumped to $0.04916 before dumping down.

Onchain data shows some snipers managed to benefit most with selling more than 35 million Hawk tokens at right time and profit over $1.3 million from single trade.

. Some users on X have claimed that launch of Hawk could put Hailey Welch in legal tension as investor who lost money in memecoin are filing complaints with SEC.

The acquisition from community claim that insider  wallets and snipers combined have over 80% of Hawk token supply.