Wrestling legend Hulk Hogan says that posts made to his account promoting the Solana (SOL)-based memecoin HULK yesterday were not from him.
HULK investors are reeling today after the celebrity memecoin based on Hulk Hogan’s likeness pumped to an over $17 million market cap yesterday before crashing to its current market cap of roughly $8,000, according to CoinGecko.
According to Mashable crypto reporter Matt Binder, Hogan’s X account promoted the HULK memecoin through several posts yesterday. During that time, the token pumped to a multi-million dollar market cap before crashing down to earth. Hogan later claimed the posts were not from him.
According to Binder, there were also several red flags about the HULK posts on Hogan’s account.
“There were signs that something was off with HULK.
For example, this tweet included a video of Hulk Hogan seemingly endorsing the memecoin to prove it was legit.
But the video is actually from a Dec 2023 video promoting a karaoke night & makes zero actual references to crypto.”
According to the Blockchain Data visualizer Bubblemaps, data shows that “insiders” bought a significant amount of HULK before the posts went live.
“Insiders bought 15% of HULK before it was announced
We have found 5 connected wallets that bought on http://pump.fun before Hulk Hogan shared the contract.
Already $200,000 sold and ~$1.5 million unrealized.”
Though this story is still developing, Hogan is far from the first celebrity to jump on the memecoin craze.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
