What a week for the crypto space! Ethereum surpassed $4K, while Bitcoin is breaking new highs, and NFTs are making a comeback. But in the middle of all this excitement, we also saw the Hawk Tuah ($HAWK) meme coin make waves. With rug pull allegations and some big moves in digital assets, here’s a rundown of the biggest stories this week.
1) Hawk Tuah Girl’s Meme Coin Faces Allegations of Rug Pull
It seems like we’ve seen this story before: A meme coin launches, and allegations of a rug pull follow closely behind. This week, the Hawk Tuah girl launched her HAWK token with great anticipation, but the excitement didn’t last long.
In just 15 minutes, the coin’s market cap shot up to $490 million, only to crash by over 93%. The cause? A series of wallet addresses dumped vast amounts of HAWK tokens, making off with more than $3 million.
According to Bubblemaps, 285 wallets bought up nearly all of the HAWK supply during the presale. Within minutes of the coin’s release, these wallets sold their tokens in a quick attempt to cash out. Crypto Twitter erupted, accusing the project of a classic rug pull.
The team behind HAWK, including Hailey Welch (the “Hawk Tuah” girl), denied the claims, insisting that the sell-offs were part of the token’s planned roadmap. They argued that no tokens were sold by the team itself, and that no influencers were gifted free tokens. However, the quick sell-offs by “strategic advisors” and others linked to the project painted a different picture.
Bubblemaps analyzed the situation and confirmed that the team didn’t sell any tokens, but connected insiders certainly did. This sparked even more outrage, as many saw it as a sign of a well-executed, albeit controversial, rug pull.
2) Trump Appoints Paul Atkins as SEC Chair
In other news, President Donald Trump made headlines this week with his appointment of Paul Atkins as the new SEC Chair. The announcement, made through Trump’s Truth Social platform, has sparked mixed reactions within the crypto community.
Trump praised Atkins for his leadership in capital markets and regulation, highlighting his commitment to digital assets. Trump also mentioned that Atkins understands the importance of innovation and sees digital assets as crucial for America’s future.
However, there are concerns. Some reports suggest that Atkins might be reluctant to take the role due to potential conflicts with his current business interests at Patomak Global Partners. While Atkins has not commented on his nomination yet, this move could signal a shift in the SEC’s approach toward digital assets, aligning with Trump’s pro-crypto stance.
3) NFT Airdrops Are Back!
Good news for NFT collectors: NFT airdrops are making a comeback! Magic Eden, one of the leading NFT platforms, has announced the launch of its airdrop claim feature, with the Token Generation Event (TGE) scheduled for December 10th.
On top of that, popular NFT projects like Pudgy Penguins have announced a major $PENGU airdrop on Solana, while Azuki, OpenSea 2.0, and Frame are gearing up for their airdrop events in the coming weeks. Is this a start for more free magical internet money for the JPEG collectors?
The return of NFT airdrops is a great sign for the market, and it looks like the NFT community is gearing up for a busy end to the year.
4) Phantom Wallet Gets a Boost, Adds Support for Sui
Phantom Wallet, one of the most popular cryptocurrency wallets, is adding support for Sui, a fast and low-cost blockchain platform. This is big news for both Phantom Wallet and Sui, as Phantom now includes Sui alongside Bitcoin, Ethereum, and Solana. This will make it more easy to trade SUI memes, that’s for sure.
Jameel Khalfan, the Global Head of Ecosystem at the Sui Foundation, celebrated the move, calling it a “giant leap” for Sui’s ecosystem. Phantom Wallet’s decision to support Sui is seen as a major endorsement of the blockchain’s potential. With over 7 million active users, Phantom Wallet’s support could provide a significant boost to Sui’s adoption.
5) Bitcoin Investor Celebrates $100K Milestone with Iconic Video Recreation
Isaac Miller, an early Bitcoin investor, celebrated a huge milestone this week. Eleven years ago, he filmed himself watching Bitcoin’s price break $100, and this week, he recreated that iconic video as Bitcoin approaches $100K. What a legend!
In an unexpected twist, a meme coin based on Isaac Miller was created, only for the developer to rug it. But instead of getting upset, Isaac took the opportunity to buy 10% of the supply, claiming he would lock it forever. Will Isaac Miller’s meme coin saga continue? Only time will tell. The $ISAAC token is currently trading at a $4 million market cap, and its all-time high was near $10 million. You can find it here on Dexscreener.
Final Thoughts
This week’s crypto news had it all: a hawk tuah meme coin scandal, big moves in digital asset regulation, a return of NFT airdrops, and some exciting wallet updates. The crypto space is ever-changing, and it’s clear that 2024 is going to be a big year. As Bitcoin is testing how high above $100K it can go and Ethereum hoovers just over $4K, all eyes are on the next big moves in the industry. Stay tuned, because it’s only going to get more exciting from here!
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