Golf influencer Paige Spiranac couldn’t resist taking a jab at fellow social media personality Haliey Welch, better known as “Hawk Tuah Girl,” after Welch’s attempt to break into the cryptocurrency world quickly spiraled into controversy.
Welch, who has recently gained internet fame, launched her own memecoin, Hawk, on Wednesday. Initially, the launch seemed like a massive success, with the coin surging to an impressive $490 million market cap just hours after its release, according to Cointelegraph and blockchain data from DexScreener.
However, the triumph was short-lived. Within hours, Hawk plummeted in value, dropping to just $41.7 million—a catastrophic fall that left Welch and her team scrambling to address the controversy surrounding the project.
Spiranac’s Subtle Dig
As news of the coin’s crash spread, Spiranac chimed in on X (formerly Twitter) with a wry comment that many interpreted as a dig at Welch. “If I’ve learned anything, it’s to never release a memecoin,” Spiranac wrote, clearly throwing shade at the debacle.
Spiranac, a seasoned influencer and savvy brand builder, appeared to distance herself from Welch’s risky venture while subtly critiquing the decision to dive into the volatile world of cryptocurrency.
What Went Wrong with Hawk?
Blockchain analytics platform Bubblemaps uncovered one of the key issues fueling the Hawk controversy. Their investigation revealed that a small number of investors, often referred to as “snipers,” owned the vast majority of the token supply.
These snipers are known for moving swiftly to buy up large quantities of newly launched tokens, often destabilizing their value and leaving everyday investors at a disadvantage.
Welch addressed the controversy in a post on X, explaining that her team attempted to mitigate the issue by implementing high transaction fees during the launch phase. “We tried to stop snipers as best we could through high fees in the start of launch,” Welch said.
She also claimed that none of her team members or insiders sold any tokens, refuting allegations that the project was designed as a cash grab.
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Welch Defends Her Intentions
Despite the fallout, Welch insisted that Hawk was never meant to exploit her fans or serve as a quick money-making scheme. In an interview with Fortune, the 22-year-old influencer shared that she initially viewed cryptocurrency with skepticism, seeing it as little more than a scam. However, she changed her stance, believing it could be a “fun way to get my fans to interact.”
“This was not about making a quick buck,” Welch explained. “It was about creating something engaging and enjoyable for my followers.”
Memecoins: A Risky Business
The Hawk controversy highlights the precarious nature of memecoins and the challenges influencers face when entering the crypto space. While Welch’s intentions may have been genuine, the token’s sudden rise and fall, combined with allegations of centralized ownership, have left her reputation—and that of the coin—on shaky ground.
Spiranac’s comment underscores the broader skepticism surrounding influencer-driven cryptocurrency projects. With many memecoins in recent years being linked to pump-and-dump schemes, even well-meaning projects face heightened scrutiny.
What’s Next?
As Welch navigates the fallout from the Hawk launch, she may need to reassess her approach to engaging with fans through unconventional ventures. Meanwhile, Spiranac’s sharp wit and strategic commentary continue to solidify her as one of the most influential voices in sports and social media.
While the world of memecoins offers tantalizing opportunities for influencers, the Hawk debacle serves as a cautionary tale: success in cryptocurrency requires more than hype—it demands trust, transparency, and careful planning.
