Hawk Tuah Girl and the SHAWK Memecoin Collapse

The SHAWK memecoin, launched by Hailey Welch (Hawk Tuah Girl) and her partners, experienced a dramatic 91% value drop shortly after its release, resulting in a class-action lawsuit alleging insider trading. Welch, initially silent after the crash, has since pledged cooperation with the legal team representing affected investors. The lawsuit claims significant losses for investors, and while Welch isn't a defendant, she aims to help identify those responsible for the project's failure. The situation highlights the risks associated with memecoins and the scrutiny faced by influencers promoting such ventures. The case underscores the legal ramifications of cryptocurrency market collapses.