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Hulk Hogan Denies Responsibility for Promoting Solana Memecoin HULKAMANIA

Hulk Hogan

Retired pro wrestler “Hulk Hogan” claims he had no responsibility for several now-removed X postings spruiking the Solana memecoin HULKAMANIA (HULK), which surged then tanked within two hours.

Hogan’s Denial and Removal of Posts

Hogan, whose actual name is Terry Gene Bollea, advised not to pay attention to any posts put up today on Instagram on June 5. “I will swiftly remove these posts, as they are not my own.”

Though at the time of writing, Google Search’s cache reveals Hogan’s X account made many postings touting a Solana-based token, HULK, all of Hogan’s X posts have been deleted.

Details of the Cached Posts

One cached post claimed, perhaps contrasting it against musician Iggy Azalea’s Mother Iggy (MOTHER), “No one can compete with $Hulk, not even your mother!” Another post sent a link to the DEX Screener token.

Mashable writer Matt Binder’s further articles, including a video of Hogan, were meant to allude to the token launch, but Binder notes it’s a December promotional karaoke night video.

Token Surge and Rapid Decline

Just over an hour and a half after it started, on June 6, at 7:40 p.m. UTC, HULK peaked in market value at $18.8 million.

It then dropped to a market value of $2 million 20 minutes later, according to DEX Screener, and has stayed there.

According to Bubblemaps, a crypto analytics company, five wallets purchased fifteen percent of the HULK supply during the launch platform push. The experience was enjoyable prior to Hogan’s X account distributing the token.

READ:  Ronin Network's RON Token Surges 11% After Coinbase Listing

As of about June 6, 8:00 p.m. UTC, Bubblemaps said the wallets had sold $200,000 worth of $1.5 million in unrealized profits.

Questions of Legitimacy and Celebrity Involvement

Whether Hogan’s account was hacked and, if so, how it happened, is unknown. Hogan’s staff ignored a request for comments.

The purported hack coincides with a slate of B-list celebrities releasing their own cryptocurrency coins.

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Last month, Solana-based tokens were introduced and promoted by reality TV star Caitlyn Jenner, musicians Iggy Azalea, and Rich the Kid.

Except for Azalea’s MOTHER, they have all sunk by more than 60%. MOTHER just reached an all-time high as the fancy rapper’s pledge to clean up her token has attracted praise.

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