‘Hawk Tuah’ girl’s memecoin launch fails spectacularly

The HAWK token crashed 87% around 30 minutes after launching

article-image

overhere.gg modified by Blockworks

share


This is a segment from the 0xResearch newsletter. To read full editions, subscribe.


Coffeezilla: “This is one of the most miserable, horrible launches I’ve ever seen in my life…”

Haliey Welch: “Okay, then why the fuck are you on then?”

That snippet came from last night’s X Spaces for the HAWK memecoin launch by Haliey Welch, aka “The Hawk Tuah Girl.”

The majority of memecoin launches end up going nowhere, but none have cratered quite so quickly as HAWK.

In what might be the fastest rug pull of all time, HAWK launched yesterday to a $490 million market cap, and then nuked to a $64 million market cap within 30 minutes.

Source: Dexscreener

HAWK has since dumped to a $27 million market cap at time of writing.

HAWK’s tokenomics might be the most egregious yet: Only 2% was allocated to the public with a 17% “Strategic Allocation” for KOLs that were fully unlocked on token generation.

Welch has publicly claimed that the internal team did not sell any tokens, but insiders were caught onchain doing so. According to Bubblemaps, 96% of the token supply was in a related cluster.

“Straight Tuah Prison” (TUAH), an alternative memecoin, launched as a response to the disaster. It has since climbed to a $12.3 million market cap. Maybe something good will come out of this after all.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

The derivatives giant will extend futures and options access to round-the-clock trading in early 2026

by Blockworks /
article-image

Global fiber network goes live as SEC clears 2Z token for utility use

by Blockworks /
article-image

The SPAC transaction positions Avalanche Treasury Co. as a Nasdaq-listed vehicle for institutional AVAX exposure by 2026

by Blockworks /
article-image

The collaboration brings regulated money market fund exposure to Polygon, with custody provided by Standard Chartered

by Blockworks /
article-image

FG Nexus teams with Securitize to bring its Nasdaq-listed equity onchain, offering tokenized stock trading through Ethereum

by Blockworks /
article-image

Sponsored

Taiko launches binding onchain governance and appoints three directors with expertise in global regulation, business strategy and blockchain tech

by Sponsored /