According to PANews, retired American wrestler Hulk Hogan (real name Terry Gene Bollea) denied any involvement in multiple deleted X-platform posts that promoted the Solana on-chain meme coin HULKAMANIA (HULK). HULK experienced a sharp rise and fall in a short period of time. Hogan clarified in a post on Instagram on June 5: "Please do not pay attention to any of the posts posted today, they are not from me and will be deleted soon."
Although Hogan’s posts on Platform X have been deleted, a Google search cache shows that his account was once associated with the promotion of the token. The video of Hogan shared by Mashable reporters was falsely attributed to the token launch, but it was actually an old video promoting a karaoke night last year.
According to DEX Screener data, HULK reached a peak market value of $18.8 million an hour and a half after its release on June 7, and then quickly fell to $2 million and remained there to this day (the latest data is $4,100). Crypto analysis company Bubblemaps said that five wallets bought 15% of the HULK supply before Hogan shared it, and subsequently sold tokens worth $200,000. It is not clear whether Hogan's account was hacked, and his team did not respond to requests for comment. The incident comes at a time when a series of celebrities are launching crypto tokens.