Wrestling Legend Hulk Hogan Denies Promoting HULKAMANIA Coin

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As a researcher with experience in the crypto and wrestling worlds, I find the situation surrounding Hulk Hogan’s alleged involvement in promoting the Solana memecoin HULK (HULKAMANIA) intriguing but concerning. The evidence presented, including cached social media posts and reports from reliable sources, suggests that Hogan’s X account endorsed the token, leading to a sharp increase in its market capitalization before an equally dramatic drop.

Former professional wrestling legend Terry Gene Bollea, better known as Hulk Hogan, has made it clear that he had no hand in endorsing or promoting the memecoin Solana’s HULKAMANIA (HULK) token through his Instagram account (X). In a June 5 social media update, Hogan expressed that he held no responsibility for the posts and requested their immediate removal.

Despite the fact that those specific posts have been removed from their original locations, Google Search’s archive continues to display several older posts by Hogan promoting the Solana-based token HULK. One of these archived posts contained an attention-grabbing statement: “No one can outperform $HULK, not even your mother!” This comment appeared to be a playful comparison to rapper Iggy Azalea’s memecoin, Mother Iggy (MOTHER). Another post contained a link directing users to the token on DEX Screener.

As a researcher investigating recent developments in the crypto world, I came across an intriguing occurrence related to Hulk Hogan’s social media accounts and website. They announced the promotion of a $HULK crypto token, capitalizing on the current trend among celebrities and memecoins. The token experienced a significant surge in value, amassing millions of dollars in just a short time. However, this sudden success was followed by an equally dramatic downturn, leaving many investors with losses.

— Matt Binder (@MattBinder) June 6, 2024

As an analyst, I’d rephrase it this way: I came across additional information from Mashable reporter Matt Binder, who posted further messages containing a video allegedly related to the token launch. However, upon closer examination, I identified this video as an old clip from December, promoting a karaoke night instead.

As an analyst, I’ve noticed some intriguing price fluctuations with HULK’s market capitalization. It surged dramatically up to $18.8 million at 7:40 pm UTC on June 6, marking a significant gain just one and a half hours after its launch. However, the situation took a sudden turn for the worse, as within a mere 20 minutes, it plunged down to a steady $2 million. According to DEX Screener data, this is where HULK’s market capitalization has remained stable ever since.

As a crypto analysis expert, I’ve come across some intriguing data from Bubblemaps regarding the HULK meme token on pump.fun. Before Hogan’s X account hyped up the token, five wallets collectively bought approximately 15% of its entire supply. Subsequently, these wallets realized around $200,000 in profits out of a potential $1.5 million unrealized gains, as per Bubblemaps’ records, roughly around June 6 at 8:00 pm UTC.

As a researcher examining Hogan’s account activity, I can only report that the details surrounding any potential unauthorized access or hacking are currently uncertain. The methods by which such an incident may have transpired remain elusive. Hogan’s team has yet to provide comments regarding these matters.

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2024-06-07 10:12