As the self-proclaimed "queen of memes" Hailey Welch, known for her viral "hawk tuah" catchphrase, ventures into cryptocurrency with the announcement of HAWK memecoin launching December 4 on the Solana blockchain.

The announcement comes amid a surge in memecoin popularity, fueled by Bitcoin's recent record highs. Unlike established cryptocurrencies such as Bitcoin or Ethereum, memecoins typically lack intrinsic value or real-world utility, instead drawing value from internet culture and viral moments.

The cryptocurrency community has responded with skepticism, with many expressing concerns about potential "rug pulls" - a scenario where project backers suddenly abandon the project after rapidly driving up prices. Welch has denied these allegations, responding with "Nope" to accusations about insider trading.

This isn't the first intersection of gaming and memecoins. Recently, DraftKings personality Taylor Mathis faced controversy over the "TAYLOR" memecoin promotion, which led to accusations of a rug pull after prices crashed. The incident reportedly resulted in Mathis's departure from DraftKings.

Welch's existing platform, including a podcast deal with Jake Paul's Betr, could potentially benefit HAWK's promotion and community engagement - crucial elements for memecoin success. However, investors should approach with caution, as memecoins typically trade at fractions of a cent and carry significant risks.

Related Articles

Previous Articles