Ruh roh Raggy.
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Andy Warhol once said: “In the future everyone will be famous for a few months and during that time if their memecoin flops they will be accused of insider trading.” Or something like that. Hawk Tuah girl, real name Hailey Welch, is embroiled in a crypto controversy after launching a meme currency, $HAWK, on ​​December 4 via the Solana blockchain Independent. Following launch, the coin increased Ms. Tuah’s public profile to sky-high heights, rising to 900 percent of its original value and reaching a market cap of $490 million, according to Crypto Times. It crashed 91 percent within a few hours. The rise and fall of a Southern Princess memecoin has been attributed to insider wallets and snipers who controlled 80 to 90 percent of the coin at launch. These groups buy a bunch of coins, wait for them to reach peak popularity (perhaps after being endorsed by a viral personality), and then immediately sell them.

Tuah denied that insiders were given early access to their coin. “The team did not sell a single token and not 1 KOL received 1 free token,” she posted on X (acknowledging that she had copied and pasted the statement). “We tried to stop snipers as much as possible by charging high fees at the beginning of the launch on @MeteoraAG.” Many online users disputed this statement with a screenshot shared by @beaniemaxie on X showing insiders selling . Another user, “High Lev Pro Trader” @imperooterxbt, claimed to have reported Tuah to the SEC. Maybe Team Tuah should stick to talking in the future.