It was a social media catchphrase, then a merchandising opportunity and, finally, a cryptocurrency. Welch said on X that she and the people behind the coin have not sold any of their holdings. Welch’s team blamed “snipers” — bots programmed to buy tokens immediately upon launch and sell when prices spike — for causing the market cap fluctuation. Welch has touted the launch of “HAWK,” promoting it in several posts across X this week. Celebrities who have touted crypto coins without transparency about their financial incentives have also faced scrutiny and legal action.

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Persons: Influencer Hailey Welch, Welch, DEX Screener, Stephen Findeisen, ” Findeisen, Welch’s, ”, “ hasn’t, Donald Trump’s, Hawk, Fortune, Elon Musk, Mark Cuban’s Organizations: NBC News, Solana