Hulk Hogan Denies Involvement in Memecoin Shilling

The retired wrestler took to Instagram on June 5th to distance himself from the posts.

He urged followers not to pay attention as they were unauthorized and would be promptly removed. Let’s explore more about this important case from Hulk Hogan.

Hulk Hogan Denies Involvement in Memecoin Promotion

Despite Hogan’s clarification, the Google Search cache reveals that his X account had made three posts promoting the Solana-based token HULK (1, 2, and 3). The token experienced a rollercoaster ride in terms of market capitalization.

Within a mere two hours of its launch, HULK soared to a peak market cap of $18.8 million, only to plummet to $2 million just 20 minutes later, where it has remained since, as reported by DEX Screener.

Source: X

The sudden surge and subsequent crash of HULK underscore the inherent volatility and speculative nature of the crypto market, with investors often vulnerable to the allure of quick gains and the risk of significant losses.

Despite the controversy surrounding Hogan’s alleged involvement in promoting HULK, the incident serves as a cautionary tale for investors to exercise due diligence and skepticism when considering investment opportunities, particularly within the rapidly evolving landscape of meme coins and token launches.


The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


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