Investors Outraged At Hawk Tuah Meme Coin Launch, File Complaints With SEC After 91% Drop
Investors are furious over Haliey Welch’s Hawk Tuah (HAWK) meme coin launch, filing SEC complaints after a brief surge followed by a 91% drop amid insider trading allegations. “I really lost $43k apeing in hawk tuah coin,” one disgruntled investor said in a Dec. 5 X post . Hawk Tuah Meme Coin Soars To A Peak Market Cap Of $490 Million The Hawk Tuah meme coin was launched on Dec. 4, 10:00 p.m. UTC. Shortly after its market debut, the token’s market cap soared to a peak of $490 million. However, not long after reaching its peak valuation, HAWK saw its market cap plunge 91% to $41.7 million. It has since recovered slightly. DexScreener data shows the meme coin’s market cap stands at around $51.7 million as of 1:59 a.m. EST. Aggregated data from DexScreener and Bubblemaps shows that insider wallets and snipers, who are wallets that buy up a large amount of tokens as soon as they launch, controlled approximately 80-90% of the meme coin’s sup...