The Hawk Tuah price plunged 46% in the last 24 hours to trade at $0.002655 as of 02:40 a.m. EST on trading volume that plunged to $3.6 million.
This comes as Haliey Welch, also known as Hawk Tuah girl, continues to face a backlash following the launch of her $HAWK coin, which then sparked concerns about a pump-and-dump scheme.
After its launch, HAWK rallied to a $490 million market capitalization, before plunging 91%. Hawk creators were, however, fast to defend their position, as they said Haliey’s team has not sold any tokens, and that her 10% allocation is locked for 1 year and vested over 3 years.
Hawk Tuah Price On A Sustained Bearish Trend
The Hawk Tuah price chart shows a clear pattern of lower highs and lower lows, forming a falling wedge. This is indicated by the two converging trendlines, with the price gradually compressing within this range as per GeckoTerminal data.
Meanwhile, the continued downtrend has pushed the price of Hawk Tuah to trade below the 25-day Simple Moving Average (SMA), which reinforces bearish sentiment.
The Relative Strength Index (RSI) is currently at 37.83, which is in the oversold territory but not at extreme levels (<30). This suggests bearish momentum is present, but the price could soon stabilize or attempt a reversal.
According to the HAWK/USD chart analysis on the 1-hour timeframe, the Hawk Tuah price is currently on a bearish momentum. If the price breaks below the lower trendline of the wedge (approximately $0.0025), it could see further downside. The next potential support level could be at $0.0022 or lower.
HAWKUSD Chart Analysis Source: GeckoTerminal
Conversely, if the price breaks above the upper trendline (around $0.0030) with strong volume, it could initiate a reversal and attempt to retest resistance levels at $0.0035 or higher. A breakout above the 25-day SMA ($0.003144) would signal the beginning of a bullish shift.
As the Hawk Tuah price slumps, investors looking for new opportunities might want to consider a new meme coin ICO called Flockerz (FLOCK) , which offers a stratospheric annual percentage yield (APY) of 537%.
According to ClayBro, a prominent crypto analyst on YouTube with over 131K subscribers, FLOCK is poised to achieve massive gains after its launch.
Flockerz Presale Closes On $5 Million Milestone
The Flockerz presale continues to gain momentum and has now surged past $4.7 million in funds raised.
Flockerz is a community-controlled meme coin that has a unique Vote-to-Earn (V2E) incentive mechanism. Holders of FLOCK can earn additional tokens by participating in key decision-making processes that shape the project’s future. All they have to do is vote.
The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.
In this way, FLOCK holders have a say in critical decisions such as protocol changes, budget allocations, adjustments to tokenomics, grant approvals, investment strategies, and so on.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.0062494 per token using BNB, ETH, USDT, or a bank card.
Buy FLOCK before a price hike in less than two days to secure the best deal.
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