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