The post Hulk Hogan-Themed Memecoin Loses $15M In Market Cap Within Minutes appeared on BitcoinEthereumNews.com.

A Solana-based memecoin, Hulkamania (HULK), allegedly promoted by Hulk Hogan, lost $15 million in market capitalization minutes after the wrestling legend deleted all posts promoting the cryptocurrency.  The professional wrestling legend clarified that the posts promoting the meme token were not from him.  HULK Value Plunges According to a post by a Solana-associated account on X, the HULK token’s market cap plummeted from $17 million to $2 million within minutes after Hogan deleted the posts promoting the memecoin.  “LATEST: WWE Wrestler $HULK (@HulkHogan) Solana Memecoin plummeted from $17 million to $2 million in just a few minutes after he deleted tweets about the coin.” Journalist Matt Binder also posted screenshots showing posts promoting the memecoin on Hogan’s account. However, these have also since been deleted. According to Binder, the token pumped on the back of these messages and then dumped when they were deleted.  “Hulk Hogan’s social media accounts & website promoted a $HULK crypto token today, jumping on the recent celeb memecoin trend. It pumped big, millions of dollars, & then dumped all the posts are now deleted. There’s a new post now claiming that the posts were not from him.” Another post shared by Binder showed a video made to look like it was referring to the token launch. However, the journalist noted that it was a video promoting a karaoke night. The memecoin reached a peak market cap of $18.8 million on June 6, barely over an hour after its launch. However, only minutes later, it tanked to $2 million, where it has remained since.  Hogan Denies Association  Meanwhile, Hogan denied any association with the token and stated that he was not responsible for the posts promoting it. The retired wrestler wrote in an Instagram post,  “Please do not take notice of any posts posted today. They…

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