Hulk Hogan’s HULK Memecoin Plummets in Controversial Rug Pull

  • Hulk Hogan has been embroiled in a crypto scandal surrounding the HULK token.
  • This incident follows the trend of celebrities launching meme coins, such as Caitlyn Jenner and Iggy Azalea.
  • Hogan took to Instagram to disavow any promotional posts from his Twitter account, claiming they were not made by him.

Legendary wrestler Hulk Hogan finds himself at the center of a crypto controversy, urging fans to disregard suspicious posts linked to his Twitter account.

HULK Token Launch and the Subsequent Fallout

In early June 2024, the HULK token made a dramatic entry into the cryptocurrency market, initially capturing the fascination of investors and Hulk Hogan fans alike. A wave of social media activity from Hogan’s account, promoting the token, led many to believe in its legitimacy. However, the euphoria was short-lived as the market cap, which peaked at nearly $19 million, nosedived following suspicious activities linked to the token’s deployment and trading.

Questions Arise About Hogan’s Involvement

Mounting evidence suggests that the promotional video purportedly portraying Hogan’s endorsement was, in fact, a repurposed clip from a December 2023 karaoke event, which had nothing to do with cryptocurrency. This has cast significant doubt on the legitimacy of the posts from Hogan’s account, with many speculating whether his account was hacked or if there was an insider connection misusing it.

The Mechanics of the Alleged Rug Pull

On-chain analysis from DexScreener revealed rapid trading activity that led to an abrupt price collapse, indicative of a “rug pull.” This pump-and-dump scheme involved the anonymous token deployer cashing out significant quantities of HULK tokens, leaving investors with depreciated assets. From its peak, the token’s market cap plunged by approximately 85%, settling at about $3 million.

Community Backlash and Investor Sentiment

The fallout from the HULK token incident has sparked outrage within the crypto community. Many traders feel deceived, including some who nostalgically admired Hogan. Pseudo-anonymous influencers like Wizard of SoHo expressed their disappointment and financial losses on Twitter. Despite the backlash, some admit a conflicted reverence for Hogan due to their childhood admiration.


The HULK token debacle serves as a sobering reminder of the risks associated with celebrity-endorsed cryptocurrencies. As the dust settles, it remains to be seen whether authorities will investigate the potential hacking of Hogan’s account or the possibility of insider fraud. For now, investors are advised to exercise caution and perform thorough due diligence before diving into the volatile world of crypto assets.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News


PRO Analysis

Ethereum Price Analysis: Regulatory Delays and Market Sentiment Intensify Decline

The recent volatility in Bitcoin’s price has...

Discover the Future of Decentralized Trading: In-Depth Analysis of GNS Coin on Gains Network

Gains Network (GNS) is a decentralized trading...

Dogecoin Price Analysis: Potential Trend Reversal and Future Projections

Dogecoin's value has experienced a substantial decline...

BONK Price Analysis: Bullish Reversal Imminent as Key Support Level Holds

Amid fluctuating market conditions, BONK is displaying...
Marisol Navaro
Marisol Navaro
Marisol Navaro is a young 21-year-old writer who is passionate about following in Satoshi's footsteps in the cryptocurrency industry. With a drive to learn and understand the latest trends and developments, Marisol provides fresh insights and perspectives on the world of cryptocurrency.

Coinbase Halts Trading for Enjin Coin (ENJ), Ensuring Fund Withdrawals Remain Open

Coinbase, one of the leading cryptocurrency exchanges, has revealed the cessation of trading for Metal DAO (MTL) and Enjin Coin (ENJ) on...

Retik Finance (RETIK) Emerges as Dominant Solana Competitor with 500% Growth Potential and Major Exchange Listings

Retik Finance (RETIK), a rising star on the blockchain, is gaining attention for its impressive trajectory in the decentralized finance (DeFi) space. ...

Solana Price Hits Major Support Level at $141: Potential Rebound Ahead

Solana has been on a downward trajectory for the last month, with its price recently hitting $141.3, a low for...