Hulk Hogan Solana memecoin appears to lose $15 million in value after wrestler allegedly deletes posts promoting token

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The Block2024/06/06 22:34

By:RT Watson

Legendary wrestler Hulk Hogan is alleged to have promoted a Solana memecoin online and then deleted the posts.The move appeared to cause the token to lose $15 million in market cap in a matter of minutes.

After WWE wrestling legend Hulk Hogan allegedly deleted internet posts promoting a Solana memecoin on Thursday, the token reportedly lost $15 million in market cap, according to Step Finance's social media account Solana Floor.

"HULK Solana memecoin plummeted from $17 million to $2 million in just a few minutes after he deleted tweets about the coin," the Solana-focused account posted .

Some users on X shared screenshots that appear to be comments promoting the HULK memecoin allegedly posted by Hogan's account earlier in the day. The Block sent a request for comment to the wrestler's official website but did not immediately receive a reply.

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With memecoins becoming increasingly easy to launch, the market for memecoins has exploded in recent months, with nearly half a million Solana tokens created in May alone, according to data compiled by The Block Pro . On Wednesday, Ethereum co-founder Vitalik Buterin said he was “quite unhappy” with celebrity memecoins experimentation.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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