Viral personality Haliey Welch has released her official token on the Solana blockchain, the latest in a long line of celebrity tokens floated on the network.

Welch went viral earlier this year after using a “hawk tuah” onomatopoeia to describe a sexual act. “Hawk Tuah” quickly became a phase used for memes across social platforms — making Welch an overnight sensation from a minimum wage worker who didn’t even have an Instagram account.

As often happens with memes, “hawk tuah” has found its way to the blockchain. Welch’s HAWK token went live on Solana-based exchanges at 22:00 UTC on Wednesday in partnership with overHere, a token launchpad.

Minutes after HAWK began trading, its market cap soared to $491 million — and then it dove below $100 million.

Welch previously distributed free tokens to her social media followers and supporters within the meme and NFT communities during a campaign held from Nov. 26 to Dec. 2.

A statement shared with CoinDesk said Welch can’t sell the HAWK tokens she got for one year and they will vest over three years.

“Who doesn’t love a good meme?” Welch said in a prepared statement. “Becoming part of meme culture interested me in the world of crypto, and I’ve learned so much along the way. Launching my own token feels like the perfect next step — not just to create something meaningful for my fans but also to protect my community from scammers.”

HAWK is supported by a foundation in the Cayman Islands through complete legal compliance in the U.S. with hired directors on staff. It has raised money from a group of private non-U.S. investors at a $34.5 million initial valuation.

Celebrity tokens became a short-lived rage within the Solana ecosystem earlier this year, with several niche and forgotten media artists releasing their tokens using Pump.Fun during a frenzied period in May.

Most tokens ended up falling 99% in the days, or even hours, afterward.

But Welch’s team says it is in it for the long run, hoping to build a community around the token and her fans in a bid to make it a successful project in the long term.

“Launching the $HAWK token creates a fun, secure and innovative way for Haliey to get even closer to her community,” Jonnie Forster, Welch’s manager, said in a statement. “It not only empowers her fans but also eliminates the confusion posed by scammers who are constantly releasing unauthorized coins without approvals of her name and likeness.”

The AMP token experienced a robust rally, reaching $0.0144, its highest level since March 11.

Ampere (AMP) has surged by about 300% from its yearly low, pushing its market capitalization to over $910 million.

The surge coincides with a broader shift into older cryptocurrencies that outperformed in 2021, following notable surges in names like Stellar Lumens (XLM) and Ripple (XRP).

AMP’s utility in the payment industry, particularly for its fast transaction speeds and low costs, has supported its price growth. Recently, AMP technology was integrated into Flexa, a growing payment network for e-commerce.

AMP’s price also rose as crypto analysts expressed bullish sentiments about the coin. In a statement, CJ Bennet, a popular crypto analyst, noted that the coin was poised for more gains, potentially reaching a record high.

Amp’s all-time high was $0.037, meaning that it still needs to gain 235% from its current level to reach that milestone.

The coin is also gaining as investors celebrate the arrival of altcoin season. Data from CoinMarketCap shows the altcoin season index has climbed to over 80, while the fear and greed index has risen to 88. Most altcoins tend to perform well during periods of high market greed.

Meanwhile, there are signs that AMP whales are accumulating the coin. According to Etherscan, one whale moved tokens worth over $2 million from Coinbase, which is seen as a bullish signal.

AMP price analysis

The daily chart shows that the AMP token price experienced a strong bullish breakout, reaching a high of $0.01450. It surpassed the crucial resistance level at $0.0091, its highest point on April 29.

The coin has formed a golden cross pattern as the 200-day and 50-day moving averages crossed each other.

The MACD and the Relative Strength Index also indicate upward momentum. Therefore, AMP needs to close above this week’s high of $0.01450 to confirm the bullish trend. A close below this high could validate a shooting star pattern, a common bearish indicator. If that occurs, the price may drop and retest the support at $0.0091.