“Can y’all stop these insane headlines? She didn’t rug for $500M and she didn’t profit $50M,” Coffeezilla stated.
On social media, Stephen Findeisen, popularly known as “Coffeezilla,” has criticized inflated and untrue statements made about viral influencer Hailey Welch and the introduction of her memecoin, HAWK.
On December 6, the YouTube investigator addressed the controversy and urged people to refrain from disseminating false headlines.
“Can y’all stop these insane headlines? She didn’t rug for $500M and she didn’t profit $50M,” Coffeezilla stated in a post to his 638,900 followers on X.
Hawk Tuah Meme Coin’s Launch Sparks Controversy
The launch of Welch’s Hawk Tuah memecoin on December 5 has caused controversy in the cryptocurrency community due to its sharp price spike and subsequent crash.
Allegations of insider trading and sniper bots fueled public outrage, leading to rumors of lawsuits and massive profits tied to Welch.
Coffeezilla, however, dismissed much of this speculation as misinformation.
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 token.
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.
Coffeezilla also pointed out that it is still unclear where the money made from the presale and transaction fees went.
Additionally, Coffeezilla debunked claims of legal action against Welch, stating, “She isn’t being sued (yet), so literally everything in this post is misinformation.”
Can yall stop these insane headlines.
— Coffeezilla (@coffeebreak_YT) December 6, 2024
She didn’t rug for 500M and she didn’t profit $50M. FFS.
1. The team presold a few million to “strategic advisors” who sold early.
2. The token got sniped.
3. LP made >$1m on 15% fees according to the meteora tracker. https://t.co/drp6RlGog0
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 team 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 Defends Meme Coin Amid 90% Drop
The market capitalization of $HAWK surged to $490 million, but soon after its Wednesday, December 4 launch, it fell 91%.
Blockchain data firm Bubble Maps shows that upwards of an estimated 80% of all wallets and snipers were controlled by insiders, skewing the token’s value.
“We tried to stop snipers as best we could through high fee’s in the start of launch on @MeteoraAG,” Welch said in a Thursday X post. “Fee’s have now been dropped.”
In a late Wednesday post to X, the team behind Welch’s token, OverHere, also denied the claims.
“Hailey’s Team has sold absolutely no tokens whatsoever,” they said. “Hailey’s Team has 10% allocation which is locked for 1 year and vested over 3 years.”
“The rest of the tokens are distributed into the different wallets as according to the tokenomics,” OverHere added, saying the company would provide a more detailed overview of the situation at a later date.
There has been a wild amount of fud circulating, let us explain:
— overHere (@overHere_gg) December 5, 2024
The main piece going around @X is the 96% cluster seen on @bubblemaps which shows $HAWK tokens being sent by the deployer address (xxxx), to the related addresses, according to the tokenomics that was published.…