The newly launched Hawk Tuah Coin has created a huge controversy in the cryptocurrency market. This meme coin, backed by popular TikTok influencer Hailey Welch, experienced huge price fluctuations after its launch, causing one investor to lose $1.4 million in just 15 minutes.
Why Did Hawk Coin Price Collapse Rapidly?
Hawk Tuah Coin attracted intense interest from investors in its first hours. However, this interest soon gave way to great losses. Sudden token sales by top crypto holders crashed the price within mere minutes. While analysts evaluated this situation as “insider trading”, Hailey Welch flatly denied these allegations.
An investor traded $1.4 million worth of MOODENG tokens for Hawk Coin due to the FOMO effect. However, the sudden drop in price reduced his portfolio to only $46 thousand. User named Wizard of Soho, who shared the situation on social media, expressed his reaction by saying, “The savings I had accumulated for months disappeared in 15 minutes.”
Another investor who suffered a similar loss stated that he spent his children’s university fund on this coin. “I bought this token on the recommendation of Hailey Welch, whom I admire. “But in just 10 minutes, my $35,000 dropped to $2,000,” he expressed his disappointment.
Things to Consider in Crypto Investments
This sharp decline experienced by Hawk Coin once again revealed the volatility of the market. Experts state that more attention should be paid when investing in meme coins. “While such projects promise quick profits, they may leave investors with quick losses,” say analysts, underlining more conscious investment strategies.
Increasing frauds in the market are another matter of concern. It is stated that projects such as Hawk Coin cause a lack of trust in the market. This incident suggests that investors should turn to long-term and research-based strategies instead of hasty decisions.
Hailey Welch’s statements regarding Hawk Coin did not fully alleviate public doubts. Investors are demanding a more transparent market. The current situation shows that the crypto market is still an area full of risks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
