Retired wrestling legend “Hulk Hogan” has denied any involvement in a series of now-deleted social media posts promoting the Solana memecoin HULKAMANIA (HULK), which experienced a rapid rise and fall within a short span of two hours.
In an Instagram post on June 5, Hogan, whose real name is Terry Gene Bollea, addressed the situation, stating, “Please disregard any posts made today. They are not from me and will be removed promptly.”
Although all of Hogan’s posts have been taken down, Google Search’s cache shows that his account shared multiple posts promoting the Solana-based token HULK.
One of the cached posts compared HULK to rapper Iggy Azalea’s Mother Iggy (MOTHER) memecoin, while another included a link to the token on DEX Screener.
Additional posts, shared by Mashable reporter Matt Binder, featured a video of Hogan that seemed to reference the token launch, but Binder clarified that it was actually from December and promoted a karaoke night.
At its peak, HULK reached a market capitalization of $18.8 million on June 6 at 7:40 pm UTC, just over an hour and a half after its launch. However, it quickly dropped to a market cap of $2 million 20 minutes later, where it has remained since, as reported by DEX Screener.
According to crypto analytics firm Bubblemaps, five wallets purchased 15% of the HULK supply on the pump.fun platform before Hogan’s account shared the token. These wallets reportedly sold $200,000 of the $1.5 million in unrealized gains by June 6 at 8:00 pm UTC.
It remains unclear if Hogan’s account was compromised and if so, how it occurred. Hogan’s team did not respond to requests for comment.
The alleged hack comes amidst a trend of B-list celebrities launching their own crypto tokens. Reality TV star Caitlyn Jenner and rappers Iggy Azalea and Rich the Kid recently endorsed Solana-based tokens, with most of them experiencing significant drops in value except for Azalea’s MOTHER token, which recently reached an all-time high as the rapper pledged to improve the token’s performance.
Additionally, a leaked celebrity price list revealed details about the Caitlyn Jenner meme coin ‘mastermind’.