On December 4, 2024, influencer Haliey Welch, known as Hawk Tuah Girl, launched her meme coin, $HAWK, which skyrocketed to a $500 million valuation before crashing to $60 million in just 20 minutes. Accused of a rug pull scam, Welch faced backlash after blockchain data revealed 96% of the coin's supply was held by 10 wallets.