The world of cryptocurrency is known for its rapid fluctuations, and recent events surrounding the "Hawk" memecoin have provided another example of its volatile nature. Golf influencer Paige Spiranac offered her perspective on the situation, drawing from what appears to be past experience.

Hailey Welch, who gained online recognition as "Hawk Tuah Girl," recently launched her own cryptocurrency. Initially, the coin, named "Hawk," saw a significant surge, reaching a market capitalization of nearly $500 million, according to data cited by Cointelegraph. However, this surge was short-lived, as the value plummeted to around $42 million within hours.

This dramatic drop prompted Spiranac to comment on social media platform X, seemingly alluding to Welch's venture by stating, "If I’ve learned anything, it’s to never release a memecoin."

Analysis from Bubblemaps indicated that a small number of individuals held a substantial portion of the Hawk cryptocurrency, leading to speculation about potential market manipulation by "snipers" – investors who quickly acquire a large share of new memecoins upon release. Welch addressed these concerns, explaining that her team implemented measures to deter such practices and asserting that no insiders had sold any of their tokens.

Welch clarified in an interview with Fortune that the Hawk project was not intended as a quick profit scheme. She explained her evolving perspective on cryptocurrency, transitioning from skepticism to seeing it as a method of fan engagement.