Despite facing online backlash, the Solana memecoin Hawk has experienced a staggering drop of over 90% in market capitalization after its launch. Hailey Welch, the creator who went viral for her quote “Hawk Tuah” in a YouTube street interview, has stated that her team has not sold any tokens. The token’s difficult start raises questions about the sustainability of memecoins in the long-term crypto ecosystem. The community will be watching closely to see if it can recover from this initial downturn and regain investor confidence.