Hulk Hogan Denies Selling HULK Coin, Goes from Pump to Dump

• Exciting news! Solana’s HULKAMANIA coin confronted some difficulties adhering to Hulk Hogan’s alleged advertising posts.
• Vitalik Buterin from Ethereum shared his feelings on the celeb-led memecoin development.

A current update on the Solana [SOL] memecoin HULKAMANIA [HULK] revealed a major drop of $15 million in market place benefit.

On the 6th of June, HULK expert a rollercoaster ride in benefit, skyrocketing and then plummeting inside just two hrs.

Coincidentally, rumors surfaced that famous WWE wrestler Hulk Hogan experienced endorsed the memecoin on social media that identical working day.

On the other hand, Hulk Hogan, or Terry Gene Bollea, clarified that he was not behind those posts and immediately taken out them, as noticed on his Instagram account.

“Please do not pay out interest to any posts posted today. They are not from me and will be taken down.”

Hogan’s X posts

The now-deleted posts from Hulk Hogan’s account went viral on social media, hinting at possible promotion of the $HULK memecoin.

Supply: Matt Binder/XDelving further into the incident, crypto evaluation business Bubblemaps claimed

“Insiders acquired 15% of $HULK prior to it was formally introduced.”

Resource: Bubblemaps/X

As per DEX Screener, the buying activity for HULK surpassed marketing, with $43. million in opposition to $42.9 million. The purchasing momentum stood out even with a minor variance.

Resource: DEX Screener

Injecting some humor into the condition, journalist Kate Irwin speculated,

“Either he’s pulling a quickly a person or bought hacked lol.”

The thriller of a prospective hack on the account continues to be unsolved.

How did this have an impact on the Solana-memecoin industry?

Though all the buzz circled HULKAMANIA, the common Solana memecoin marketplace hardly shifted, registering a mere 1.7% fluctuation in industry value through the similar interval.

This craze isn’t unique, with numerous general public figures recently launching or endorsing memecoins. Truth Tv set individuality Caitlyn Jenner and rappers Iggy Azalea and Wealthy the Child also joined the memecoin craze.

In the midst of the celeb-pushed memecoin frenzy, Vitalik Buterin, co-founder of Ethereum, expressed his discontent, indicating,

Supply: Vitalik Buterin/X