- Haliey Welch has copped backlash in recent days following the launch of $HAWK
- The meme coin’s value tanked by 91 per cent just hours after it dropped last week
Aussie Rugby league legend Phil Gould appears to have hit out at people who invested in Hawk Tuah star Haliey Welch’s crypto scheme after the meme token venture left some fans feeling shortchanged.
The viral sensation, who became famous on the internet for the ‘Hawk Tuah’ meme this year, has found herself in hot water with some online, after the 22-year-old had launched her own crypto meme coin, called $HAWK, on Wednesday last week.
A meme coin is a piece of internet currency that is inspired by a viral internet meme. The online currency initially began as a joke and had been used for entertainment purposes.
But meme coins have become more favoured in recent years, with tokens like Dogecoin and a MAGA coin – inspired by US President-elect – Donald Trump, becoming very popular.
The cryptocurrency peaked at a market capitalisation of A$315.8million (US$490m).
But just three hours later, the coin had tanked by 91 per cent and was trading at a value of A$64.79m (US$41.7m), according to CoinTelegraph.
Footy great Phil Gould has weighed in on the recent launch of Hawk Tuah star Haliey Welch’s meme coin launch
The viral sensation has come under fire after the crypto currency, called $HAWK, slumped by 91 per cent just hours after it launched on Wednesday last week
The 22-year-old has since been accused of scamming investors.
Some including YouTube cryptocurrency investigator Coffeezilla have claimed that a ‘pump and dump’ had taken place. This is where those behind the coin hype up its price before launch and sell it for a profit.
But she has insisted in an interview with Fortune, that the venture was ‘not just a cash and grab’.
There is no accusation of any wrongdoing by Daily Mail Australia.
Gould, meanwhile, took to X to issue his thoughts on the situation.
The Canterbury General Manager wrote: ‘So people invested in a meme launched by this Hawk Tuah girl?…
‘And it went bad?…
‘Who could possibly see that coming?’
Rugby league legend Gould took to X to write: ‘Who could possibly see that coming?’
Welch rose to internet stardom earlier this year after she went viral for her ‘Hawk Tuah’ meme
His comments came in relation to a thread on the social media platform recounting the events that had led up to the coin’s price crashing.
The massive slump in price has largely been credited to crypto snipers. These are entities that make quick and precise actions in the market to capitalise on opportunities within the market.
Crypto snipers rapidly buy up large proportions of a token’s supply at launch and offload that stock quickly to make lucrative gains.
Dexscreener data, cited by crypto site Coinspeaker, claimed to show that 80 to 90 per cent of $HAWK’s offering was controlled by insider wallets and snipers. One wallet had even taken 17.5 per cent of the supply at launch and was able to sell it off for a profit of A$2.02m (US$1.3m).
Welch’s team have spoken out on social media claiming that they had tried to prevent snipers.
‘Team hasn’t sold one token and not one [key opinion leader] was given one free token. We tried to stop snipers as best we could through high [fees] in the start of the launch on @MeteoraAG. Fees have now been dropped,’ they said. Welch had subsequently re-posted the message on her own X account.
Both Welch and OverHere, the team behind $HAWK, have spoken out on the matter on social media
OverHere, the team behind the $HAWK denied these claims stating in a separate post: ‘Haliey’s team has sold absolutely no tokens whatsoever. Haliey’s team has 10 per cent allocation which is locked for one year and vested over three years.
‘The rest of the tokens are distributed into the different wallets according to the tokenomics.’
Daily Mail Australia has reached out to Welch’s representatives for comment.
Gould, who coached the Panthers and Bulldogs to premiership titles, recently lifted the lid on the Bulldogs’ transfer plans, claiming that Ben Hunt and Ryan Papenhuyzen didn’t fit into the club’s future plans.
