Golf influencer Paige Spiranac gave her two cents on the viral Hawk Tuah girl's failed memecoin. Hailey Welch, who became famous for her "hawk tuah" line, launched her own meme coin on Wednesday. However, its value crashed and burned just as fast as it was released.
As for Paige Spiranac, she took to X to weigh in with a simple observation:
"If I’ve learned anything, it’s to never release a memecoin."
Hawk Tuah Girl gets accused of insider trading, says she's not "gambling," she just wants her fans to interact with her
Hawk Tuah Girl has been capitalizing on her newfound fame in several different ways, and she launched her cryptocurrency on the Solana blockchain just this week. Not long after it was released, it clocked in with a market cap of $490 million.
However, within hours, it plummeted to $41.7 million. Thereafter on Thursday, it dropped to $25 million, Forbes reported—a staggering 95% less than hours ago. As of Thursday afternoon, the coin is $0.002439 lower than Wednesday's high of $0.04916. According to Forbes, the meme coin ended up causing massive losses for some, prompting inquiries into Welch's actions.
Scores have accused her of allowing "snipers," or investors, to quickly purchase chunks of the meme coin when it launched, culminating in insider trading.
However, Welch has since defended herself, noting, per several outlets:
"Team hasn’t sold one token and not 1 KOL was given 1 free token. We tried to stop snipers as best we could through high fee’s in the start of launch on @MeteoraAG Fee’s have now been dropped."
Amid the controversy, Paige Spiranac took to X to share her opinion, noting that she wouldn't be getting herself into such a mess. As for Welch, she revealed that her meme coin was simply a tactic to grow her reach and not a "cash grab." She said, per The Sun:
"I don’t really see it as, like, a gambling thing. I think it’s, like, a fun way to get my fans to interact.”
Coffeezilla, a YouTuber who deals with cryptocurrency, dissed Hawk Tuah Girl during a conversation on X space, Forbes reported. He asserted that the meme coin had “one of the most miserable, horrible launches I’ve ever seen” and accused Welch of insider trading.
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Per Cointelegraph, snipers had control over 80 to 90% of the currency. In the past, Hawk Tuah Girl has referred to cryptocurrency as an "easy way for you to lose money," The Sun has pointed out.
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