Wrestling legend Hulk Hogan says that posts made to his account promoting the Solana (SOL)-based memecoin HULK yesterday were not from him.
HULK investors are reeling today after the celebrity memecoin based on Hulk Hogan’s likeness pumped to an over $17 million market cap yesterday before crashing to its current market cap of roughly $8,000, according to CoinGecko.
According to Mashable crypto reporter Matt Binder, Hogan’s X account promoted the HULK memecoin through several posts yesterday. During that time, the token pumped to a multi-million dollar market cap before crashing down to earth. Hogan later claimed the posts were not from him.
Source: Hulk Hogan via Matt Binder/XAccording to Binder, there were also several red flags about the HULK posts on Hogan’s account.
“There were signs that something was off with HULK.
For example, this tweet included a video of Hulk Hogan seemingly endorsing the memecoin to prove it was legit.
But the video is actually from a Dec 2023 video promoting a karaoke night & makes zero actual references to crypto.”
According to the Blockchain Data visualizer Bubblemaps, data shows that “insiders” bought a significant amount of HULK before the posts went live.
“Insiders bought 15% of HULK before it was announced
We have found 5 connected wallets that bought on http://pump.fun before Hulk Hogan shared the contract.
Already $200,000 sold and ~$1.5 million unrealized.”
Source: Bubblemaps/XThough this story is still developing, Hogan is far from the first celebrity to jump on the memecoin craze.
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The post HULK Celebrity Memecoin Pumps and Dumps in Alleged Rug Pull As Hulk Hogan Claims His Accounts Were Hacked appeared first on The Daily Hodl.