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'Hawk Tuah' girl Haliey Welch's memecoin launch went horribly wrong. Here's what happened.

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Haliey Welch launched her own memecoin, $ HAWK , on Wednesday .

The token was launched by a company called overHere, who said it was launching the coin on Welch 's behalf.

The coin's market cap dropped to $36.6 million just minutes after it launched.

Welch and the overHere team attempted damage control in the hours after the launch, blaming snipers.