The post HULK meme coin lost $15 million in market cap appeared on BitcoinEthereumNews.com.

The HULK meme coin lost roughly $15 million in market capital. This happened after Hulk Hogan, a WWE wrestler, first allegedly promoted the Solana-based meme token and then deleted those posts. The market cap dipped in a matter of minutes, plummeting from $17 million to $2 million. HULK’s future predictions and trend lines are difficult to predict, leaving many wondering about the meme coin’s scope. It goes on to show how meme coins can be reliable if not deployed appropriately. Every month, numerous meme coins are generated. For instance, May alone saw the creation of half a million Solana tokens. The market has experienced a slight impact from SOL. In the last 24 hours, the token has dropped by 0.40%. At the time of writing this article, the token’s current value is $171.88. However, it is up by 4.03% in the last 7 days and 10.53% in the last 30 days. It is testing the resistance at $170 with bullish sentiments for the future trend. SOL is expected to increase by 15.40% over the next 30 days. As a result, the milestone of $196.22 was achieved. This could potentially pave the way for the mark of $200 by the end of this year. As for celebrity meme coin trends, Vitalik Buterin, the co-founder of Ethereum, has expressed his dissatisfaction with them. He said on Wednesday that he was quite unhappy with the experimentation with celebrity meme coins. He took to X to express this dissatisfaction, stating that celebrity meme coins are more about personal profit than the overall project value. Buterin believes that such tokens fall short of industry standards. While he did not give any specific names, he did mention the likes of Mila Kunis and Ashton Kutcher. Celebrity meme coins seem to be driven by a single individual…

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Filed under: News - @ June 7, 2024 9:14 pm