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It is a parable for the attention economy. A celebrity created entirely by social media, “hawk tuah girl” Haliey Welch, helps launch a crypto asset that stokes a viral frenzy and then flames out.
The Hawk memecoin was worth $490m (£385m) hours after it launched on 4 December but now has a market capitalisation – the value of all Hawk coins in circulation – of $17m.
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