cryptodrama

The much-anticipated HAWK Memecoin, backed by social media personality Hailey Welch, has plunged into controversy following a jaw-dropping 90% price crash within hours of its launch. The token, which initially soared over 900%, accumulating a market cap of $490 million, now faces intense backlash from investors accusing insiders and snipers of manipulating its price.
From Moonshot to Meltdown
HAWK, launched on 4th December at 10 PM UTC, debuted at $0.005492 and skyrocketed to a peak of $0.04916. However, in a shocking turn of events, the price plummeted 91%, leaving many investors in significant losses.
Onchain data from DEXScreener highlights troubling trends. Reports show snipers capitalized on the surge, dumping over 135 million HAWK tokens and pocketing a staggering $1.3 million in a single trade. Further analysis suggests that 80% of HAWK's total supply is controlled by a handful of insider wallets, sparking fears of centralized control and pre-planned dumps.
Community Fury and Legal Risks
The situation escalated as accusations of insider trading spread like wildfire. Community notes on X revealed that 96% of HAWK's supply is held by 10 interconnected wallets, which have been systematically selling tokens since the launch.
Investors have flooded Welch’s social media with demands for accountability, and several have reportedly filed complaints with the SEC. These legal troubles could spell further problems for Welch and her team, especially as she denies any involvement with insider wallets or assigned tokens for promotion.
What’s Next for HAWK?
As the dust settles, the once-promising memecoin is at risk of becoming a cautionary tale. With investors questioning the transparency of Welch and her project, it remains unclear whether HAWK can recover from the backlash or if this marks the beginning of its end.

$SHIB

A startling message has emerged from Kiki_no_Kokoro, the visionary behind the $KIKI token, revealing what appears to be a deep internal conflict between SHIB's top figure Shytoshi Kusama and the KIKI initiative. In a heartfelt post on X, Kokoro writes, “If I were to vanish tomorrow, I’d do so without regrets—because truth deserves a voice when trust is broken.”

At the heart of this controversy lies the origin of the $KIKI token, a meme coin rooted in SHIB’s cultural DNA and boasting over 12 billion Giphy views. As shared by Kokoro, the token was initially conceptualized by Shytoshi himself as a bridge between the SHIB ecosystem and Solana ($SOL). Three significant commitments were allegedly made by Shytoshi: access to 36 proprietary SHIB technologies, exclusive representation of SHIB OS on Solana, and community-backed support for SHIB’s expansion into the Solana blockchain.

💔 Promises Unfulfilled, Trust Diminished

Despite these bold ambitions, Kokoro says that none of the promised support materialized. Instead, on the very day Shytoshi was expected to endorse $KIKI, he allegedly launched a competing project — the SHY token, distancing himself from KIKI and downplaying the situation as minor. Kokoro recounts being told, “I’ll help for a few days and then step back,” yet claims this promise was met only with silence and withdrawal.

The situation reportedly escalated when Shytoshi requested a growing stake in the KIKI token—initially 5%, then an additional 1.5% for influencers, followed by further demands—allegedly leveraging his symbolic influence and connections to exert pressure. Kokoro described this as a shift from collaboration to manipulation and control, suggesting the misuse of authority for personal gain.

🔍 A Reflection, Not a Retaliation

Kokoro emphasizes that speaking out is not a form of retaliation, but a call for transparency. “I speak not to win but to refuse to lose in silence,” he wrote. He credits a global team of 24 engineers and creatives who came together under a unified vision: to build something meaningful that would uphold SHIB's core values of decentralization and community empowerment.

While the future of $KIKI remains uncertain, the bold move to bring these concerns into the public eye highlights the growing pains of crypto leadership and the importance of accountability—even in decentralized spaces. The SHIB community now faces critical questions about its direction, integrity, and how it handles leadership transitions in this new era of Web3 innovation.

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