Shytoshi Kusama, the pseudonymous lead of the Shiba Inu SHIB/USD ecosystem, on Thursday, distanced themselves from the controversial meme coin launched by influencer Haliey Welch of the “Hawk Tuah” fame.
What Occurred: Kusama got here to X to clear the air over the alleged hyperlinks to the HAWK coin, which was pumped and dumped shortly after its launch.
The mysterious character disclosed that they have been approached by Welch’s crew months in the past to advertise the coin, however they declined the supply.
Nevertheless, Kusama mentioned they have been fantastic with the undertaking airdropping hundreds of thousands of their tokens to the SHIB neighborhood.
For many who do not know me, I hold it actual… so let’s ensure this $HAWK bs is obvious so there isn’t a confusion:
A thread
tua make it clear.#SHIBARMY hear up:
— Shytoshi Kusama™ (@ShytoshiKusama) December 5, 2024
“As a result of Shib is decentralized, the put up together with Shib was going out regardless. So okay, you need to airdrop tokens; it gained’t be the primary or final, and we have now strategies in place to just accept these correctly (Leash, and so on.) like we have now executed previously,” Kusama added.
Even so, Kusama denied any partnership or settlement with the crew presently.
The Shiba Inu lead mentioned that whereas they have been getting ready on their finish for the airdrop, Welch’s crew went forward with the “instantaneous launch.”
“Pump and apparent dumping; even denial of doing so! Which imho is shameful and identical to like 90% of the crap on Solana. Do higher,” Kusama slammed the creators.
They deemed the meme coin as “trash” and suggested the neighborhood to steer clear of the “horrible” launch.
The crew behind the HAWK token didn’t instantly reply to Benzinga’s request for touch upon the claims by Kusama.
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Why It Issues: The cryptocurrency neighborhood was shocked by the sudden crash within the meme coin’s market worth after the preliminary pump, with many accusing Welch of defrauding them by means of insider buying and selling.
Welch has denied the allegations, saying that no free token was given to anybody from the crew or influencers.
Fingers additionally began to level towards the Shiba Inu ecosystem, with a consumer named Lola accusing the crew behind the official X account of selling the pump-and-dump coin.
@Shibtoken was selling the pump and dump HAWK after the dump on SHIRO
500M MC and dumped to 60MC . For the love of your cash and your sanity , please cease supporting them
This man doesnt characterize $SHIB #SHIB . They’re giving SHIB dangerous identify and it’s intentional pic.twitter.com/4e76ohyabF
— Lola (@CryptoLollla) December 5, 2024
Worth Motion: As of this writing, the Solana SOL/USD-based coin was down 32.59% within the final 24 hours whereas its market capitalization plummeted to $27 million from $425 million instantly after launch, in accordance to Dexscreener knowledge.
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