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Crypto Token “Hawk Tuah” Rises 1,300% in One Week
A relatively common feature of cryptocurrency Bull Cycles is that every noteworthy Internet event is transformed into a coin or token – usually of a meme variety.
2024 cryptocurrency market proved no different with his deluge of inspired by the elections cryptocurrencies, such as the much discussed Jeo Boden (BODEN). The latest addition, however, has found decidedly different inspiration.
The falcon Tuah (HAWKTUAH) The meme coin was launched on June 21st and quickly found success. In fact, as of this writing it is worth around $0.00825, meaning it is up 1,400% since it launched less than a week ago.
On the other hand, HAWKTUAH already is trade below its all-time high (ATH) – and ATH of $0.3 reached and held briefly a day after its launch – and the next few trading days will demonstrate whether its price at press time is an opportunity to “buy the decline” – like the According to some traders, a 24-hour volume spike suggests that it has already approached the end of its life cycle.
HAWKTUAH all-time price chart. Source: CoinMarketCap
HAWKTUAH’s relatively persistent success – especially given its inspiration – not only serves as a testament to the relative longevity, at least in Internet terms, of the meme on which it was based, but may ultimately pave the way for its joining the ranks of other notables similar goods.
However, Hawk Tuah’s future remains uncertain as it maintains a relatively modest market capitalization of less than $10 million. Dogemoneta (DOGE), for example, boasts a market capitalization of almost $18 billion – and volume, despite continued growth, stands at $15 million – Shiba Inu (SHIB) the daily volume, for example, stands at 200 million dollars.
The origins of Hawk Tuah
Hawk Tuah himself is based on a meme of the same name. It originates from a YouTube video published by the “Tim & Dee TV” channel. In the video, a blonde girl from Nashville, Tennessee is asked, “What’s one move in bed that drives a man crazy every time?” only to reply, “Oh, you have to give him that falcon tuah and spit on it.”
The video quickly went viral, spawning a new meme template. A deluge of remixes, reformats, derivatives, and tributes, including a parody of a country song dedicated to the girl in the video, extended its lifespan.
The real test for meme currency will come when the “Hawk Tuah” meme leaves the zeitgeist.
HAWKTUAH is already trade below its all-time high (ATH) – and ATH of $0.3 reached and held briefly a day after its launch – and the next few trading days will demonstrate whether its price at press time is an opportunity to “buy the decline” – like the According to some traders, a 24-hour volume spike suggests that it has already approached the end of its life cycle.
Meme coin traders aren’t the only ones benefiting from virality
Whatever the fate of cryptocurrency, it’s clear that meme money isn’t the only thing benefiting from the video’s virality. The girl herself, Hailey Welch, has done just that. from what is said launched a line of merchandise inspired by the meme.
According to reports on June 26, he has already sold $65,000 worth of hats. In a fun crossbreed of current memes, the hats say “Hawk Tuah ’24” and have proven exceptionally successful for Fathead Threads, the Tennessee-based embroidery and apparel company with which Welch has partnered.
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