- Can you all quit making such ridiculous headlines? She didn’t make $50 million or rug for $500 million.
On social media, Stephen Findeisen, popularly known as “Coffeezilla,” has criticized inflated and untrue statements made about viral personality Hailey Welch and the introduction of her memecoin, HAWK.
On December 6, the YouTube investigator addressed the situation and urged people to refrain from disseminating false headlines.
Can you all quit making such ridiculous headlines? She didn’t make $50 million or rug for $500 million.
The Launch of the Hawk Tuah Meme Coin Causes Controversy
The launch of Welch’s Hawk Tuah memecoin on December 5 has caused debate in the cryptocurrency community because to its sharp price spike and subsequent crash.
Public indignation was stoked by claims of insider trading and sniper bots, which resulted in tales of lawsuits and enormous gains associated with Welch.
However, a large portion of this conjecture was rejected by Coffeezilla as false information.
Coffeezilla claims that the HAWK team “presold a few million” tokens to strategic advisors who purportedly sold ahead of schedule, which increased the volatility of the coin.
He explained that while the “exact amount” of money has not yet been determined, Welch’s attorney has claimed that she received $125,000, with her tokens being locked for a year.
Additionally, Coffeezilla pointed out that it’s still unclear where transaction fee earnings go.
Coffeezilla also refuted reports that Welch was being sued, saying, “She isn’t being sued (yet), so literally everything in this post is misinformation.”
Burwick Law, a U.S.-based firm, has extended an invitation to potential launch victims to investigate their legal alternatives.
According to Welch’s most recent X statement, the company had not sold any tokens and had tried to discourage sniper bots by charging high fees at launch.
Coffeezilla has urged a focus on confirmed facts rather than conjecture, even though there are still unanswered questions.
Hawk Tuah Girl Stands Up for Meme Coin Despite 90% Decline
The market capitalization of $HAWK surged to $490 million, but soon after its Wednesday, December 4 introduction, it fell 91%.
According to blockchain data company Bubble Maps, insiders controlled up to 80% of all wallets and snipers, which distorted the value of the coin.
When we first launched on @MeteoraAG, we made every effort to deter snipers by charging exorbitant fees. Now, fees have been eliminated.
In a late Wednesday post on X, the team behind Welch’s token, OverHere, likewise denied the claims.
Not a single token has been sold by Hailey’s Team. The 10% allotted to Hailey’s team is locked for a year and vested over three.
According to tokenomics, the remaining tokens are allocated among the various wallets, OverHere continued, adding that the business would offer a more thorough explanation of the circumstances later.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
