Hawk Tuah Influencer Involved in Lawsuit Over Promotion of New Solana Meme Coin
Legal Scrutiny for Haliey Welch: Haliey Welch, known as the Hawk Tuah girl, is now a defendant in a federal class action lawsuit related to a failed Solana meme coin, accused of promoting a token that collapsed shortly after launch, benefiting insiders significantly.
Financial Gains and Marketing Role: The lawsuit claims Welch earned up to $325,000 for her promotional efforts, which were part of a marketing strategy managed by Memetic Labs, leveraging her online presence to attract buyers to the Hawk Tuah token.
Token Collapse and Insider Activity: The Hawk Tuah token experienced a rapid rise to a $490 million market cap before plummeting over 90%, with insiders allegedly selling large amounts for over $1.2 million during the crash, raising concerns about a pattern of fraudulent activity.
Ongoing Investigations and Legal Actions: Burwick Law is expanding the case to include new fraud allegations and is seeking to identify additional defendants linked to the token's launch, while investigations into related wallet activities continue.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 15.933 | 41.717 | 67.283 | 93.067 | 118.633 | 144.417 | 169.983 |
| Fibonacci | 41.717 | 61.332 | 73.451 | 93.067 | 112.682 | 124.801 | 144.417 |
About SOL
About the author
