According to reports, #HalieyWelch, the TikTok star behind the viral “hawk tuah” video, launched her own memecoin, Hawk Tuah, on the Solana blockchain. The coin briefly soared to a $500 million market cap before crashing 95% to $25 million within 24 hours, with its price plummeting from $0.04916 to $0.002439. The chaotic rollout sparked controversy, with accusations of insider trading and reports that 80-90% of the coin’s supply was controlled by insiders or snipers. Welch and her team denied the allegations, claiming they didn’t sell any tokens and tried to block snipers.