PANews reported on December 5 that according to The Block, crypto influencer Haliey Welch and the HAWK team denied the allegation that "there was market manipulation in the issuance of the Meme coin HAWK on the Solana chain, and insiders once controlled 96% of the total supply of tokens." Welch said on social media that the team had not sold any HAWK tokens, nor had they given free tokens to any KOL. She explained that the team tried its best to prevent market sniping by setting high fees. In addition, OverHere, the team allegedly responsible for the issuance of HAWK tokens, also explained the matter. They said that 96% of the clusters shown on Bubblemaps were tokens sent by the deployer address to the relevant address in accordance with the principles of token economics, and were not evidence of market manipulation. The "HAWK" token economics released by Welch on the X platform showed that only 10% of the supply was allocated to Welch and his team, with a 12-month lock-up period and a 3-year linear vesting period.
According to DexScreener data, the HAWK token was launched at 5 a.m. Beijing time today and quickly soared, with a market value of approximately $400 million at one point. However, as of the time of writing this article, it has plummeted by more than 90%, leaving only approximately $37 million.
Earlier today, it was reported that crypto influencer Haliey Welch launched the HAWK token, and internal accounts made a profit of $1.66 million.
