The Fall of the Hawk Tuah: Meme to Crypto Chaos

A Bit of Context

Hailey Welch, aka the Hawk Tuah Girl, absurdly became famous for an explicit joke she made during a street interview. The phrase “Hawk Tuah” became such a strange but captivating sensation that the clip went viral, receiving millions of views in a very short time. Hailey quickly pivoted from being a largely unknown girl with a strong Southern twang to an internet personality and influencer.

She even started her own podcast, Talk Tuah, featuring high-profile guests like rapper Wiz Khalifa and billionaire Mark Cuban. Now, millions can hear her Southern charm in all its glory over 13 beloved episodes.

Since Hailey was already selling merch — hats, tank tops, throw blankets, and everything else — it seems only natural that she’d throw her cowboy hat into the memecoin market.

After all, she considers herself, simply, “The Queen of Memes” (yes, that’s what it says on her X account).

Hailey Welch, the 20-something Tennessee internet star, claimed she talked to Bitcoin maximalist and business executive Michael Saylor. As someone who has invested billions into Bitcoin and is considered an expert on the digital asset. Welch posted a selfie video thanking Michael Saylor for convincing her to invest in crypto, saying, “Oh my God, thank you so much, Mr. Saylor,” after hearing him speak at Bitcoin 2024, a conference held in Nashville, Tennessee — a perfect location for Hailey to stop by.

The Launch of $HAWK

On December 4, Hailey launched $HAWK on the Solana blockchain. The coin’s value quickly climbed to nearly $500 million, but within 20 minutes, it plummeted by 88%, dropping to around $66 million in total value. The crypto community on X is in an uproar, with some claiming that Hailey is responsible for what they’re calling a “rug pull” — a project intentionally abandoned by its developers to run off with investor money.

Some speculate that, since Hailey just got familiar with the power of crypto and was “orange-pilled” (converted into a serious Bitcoin advocate) only a few weeks ago, she was likely taken advantage of by those more experienced in the tokenomics of launching a successful project. The theory? Her team or advisers may have orchestrated the whole thing to run off with millions of dollars after the token’s value crashed.

Hailey took to X Spaces, an open audio group chat, to share her side of the story. The Space, cheekily titled The Hawk Truth, featured little commentary from Hailey herself. Instead, an alleged project organizer known as @overHeRE on X defended the project, claiming it was not a rug pull and insisting that Hailey and her team are not abandoning the project.

According to community notes on X: “96% of the $HAWK supply is in 10 connected addresses before the launch.” Suggesting that Hailey’s team has nearly total control over the sustaining value of the coin.

This story is very much ongoing. Some people claim to have lost their life savings and sizable investments on the token, expecting the memecoin to make them major profits. Naturally, these investors are upset and regretful, while more seasoned crypto traders are scolding anyone naive enough to invest in a “Hawk Tuah” memecoin.

When users in the digital town hall accused Hailey and questioned her about how much money was made during the rise and fall of her new token, Hailey interjected, saying,