Bitcoin recently celebrated a monumental milestone, hitting an impressive $100,000, igniting enthusiasm within the crypto community. However, the excitement shifted when the newly launched Hawk Tuah coin, backed by celebrity Haliey Welch, captured the spotlight.
Initially, Hawk Tuah coin's market cap skyrocketed to nearly $500 million shortly after its launch. This surge drew widespread attention, overshadowing Bitcoin's achievement. However, the excitement was short-lived as the coin's value quickly plummeted below $100 million.
The dramatic drop was fueled by allegations of insider trading and price manipulation, raising concerns and skepticism among investors. As a result, the Hawk Tuah incident prompted discussions about market integrity and the volatile nature of new cryptocurrencies.
In the shadow of Bitcoin’s success, the Hawk Tuah saga serves as a stark reminder of the risks in the crypto space, leaving many to wonder if the debacle has overshadowed Bitcoin's historic moment.
