Hailey Welch, known as the "Hawk Tuah girl," has announced her entry into cryptocurrency with the launch of HAWK memecoin on the Solana blockchain, scheduled for December 4th.

The internet personality, who gained fame in June for viral phrases like "hawk tuah" and "spit on that thang," faces criticism from the cryptocurrency community over this venture.

Memecoins, cryptocurrency tokens based on viral internet moments or famous personalities, have surged in popularity alongside Bitcoin's recent rally toward $100,000. However, these tokens typically trade for fractions of a cent and lack intrinsic value or real-world utility.

Critics express concerns about HAWK potentially being a "rug pull" - a scenario where project backers suddenly abandon the project after its value increases, leaving investors with worthless tokens. Welch denied these allegations on X (formerly Twitter), responding "Nope" to accusations about insider selling.

Welch's existing platform, including her podcast deal with Jake Paul's Betr, could benefit HAWK's promotion and community engagement - crucial elements for memecoin success.

The gaming industry has previous experience with memecoins. Recently, DraftKings personality Taylor Mathis promoted the "TAYLOR" memecoin for 2% of its supply. The token's subsequent price collapse led to rug pull accusations and controversy, resulting in Mathis temporarily locking her social media accounts and apparent separation from DraftKings.

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