The crypto market space is filled with projects, each competing for attention. Among these, MOODENG and Hawk Tuah are two cryptocurrencies that have recently gained attention. Both of these are blockchain-based meme coins with different goals, communities, and uses. These two coins gained attention in the context of high volatility which caused major financial losses for investors.
The recent events regarding HAWK TUAH bring to light the risks that come with investing in meme coins. The choice between Moo Deng and Hawk Tuah boils down to your needs and goals. So it is important to stay vigilant before you invest.
What is Moo Deng and Hawk Tuah?
- Moo Deng is a crypto meme coin that is inspired by the viral internet sensation of a baby pygmy hippopotamus named Moo Deng who was playful with a silly nature. The coin was launched in September 2024 and has quickly gained popularity within the cryptocurrency community. It operates on the Solana blockchain, which is famous for its fast transaction speeds and low fees. It is not specified who launched the token on pump.fun, but it quickly gained traction to become one of the most traded memcoins.
- Hailey Welch an influencer who is known as the “Hawk Tuah Girl” launched the meme coin Hawk Tuah. The meme coin was inspired by a viral moment from Haliey and it experienced a dramatic rise and fall immediately after its launch on the Solana blockchain on December 4th, 2024. The value of the coin dropped significantly hours after the launch as people started selling in bulk. The token crashed from $500 million to around $36 million market cap. Investors lost thousands of dollars within a short time.
Key Features of Moo Deng
- Moo Deng operates on the Solana Blockchain, which is known for its fast transaction speeds and low fees. This makes it accessible for retail investors who want to engage in the meme coin market without paying the high costs that comes with other blockchains like Ethereum.
- The project has built a strong community, with over 12,400 wallets that are holding coins shortly after its launch. The community actively promotes Moo Deng through social media platforms by sharing memes and success stories that increase its virality.
- Since its launch, Moo Deng has undergone major price volatility, with reports of investors making a lot of profits. For example, one investor grew an initial investment of $1,331 into over $3 million.
- An important aspect of Moo Deng is its commitment to donate all trading fees from its associated platform, the Moonshot app, to the Khao Kheow Open Zoo, where Moo Deng (the hippopotamus) stays. This charitable aspect is a unique appeal to investors.
Rise and Fall of Hawk Tuah
- $HAWK (Hawk Tuah coin) was launched on December 4, 2024, and its price surged over 900% shortly after launch. However, in a few hours, the coin’s value dropped by over 95%. This rapid drop led to mass allegations of a pump-and-dump scheme, where insiders inflate the price before selling their holdings for profit. Investors have accused Welch and her team of pulling a scam. Some reports indicate a huge part of the token supply was controlled by a small number of wallets. Many investors have moved on to legal action against Welch and her team. Those investors who switched from Moo Deng to Hawk Tuah regretted their decision as they faced huge financial losses. Data shows that someone switched $1.4 million worth of Moo Deng coin for Hawkcoin and lost most of it.
Bottom Line
The incident of Hawk Tuah shows us how celebrity crypto is mostly a scam. The online community is reacting strongly to the situation. Some people are calling it a “rug pull” where crypto promoters abandon their project once they cash out. It is important to stay vigilant in such situations since most of the crypto market is not under any regulation or oversight.
The huge contrast between Moo Deng and Hawk Tuah displays the risks that are involved in cryptocurrency trading, especially when it comes to meme coins. It is important to be cautious about the volatility and potential for loss when investing in newly launched tokens, especially those that are promoted by celebrities.