Ruby Summary 📝
One week after Caitlyn Jenner and Iggy Azalea launched meme coins, Hulk Hogan appeared to join the trend with the HULK token on Solana. But the coin quickly turned out to be a scam, leading Hogan to warn his fans on Instagram. It’s unclear whether Hogan’s Twitter account was hacked or used maliciously to promote the token. The market cap of HULK reached $19 million before plummeting, leaving traders feeling swindled but nostalgic.
Fake Hulk Hogan Coin Defrauds Investors 💸
Legendary wrestler Hulk Hogan launched the HULK token on Solana, following the trend of celebrity meme coins
- Hogan warned fans on Instagram to ignore any crypto posts from his Twitter account
- It’s unclear if Hogan’s Twitter account was hacked or misused to promote the coin
Scam Alert: HULK Token Crash 📉
The HULK token quickly rose to a market cap of $19 million before crashing due to a potential rug pull or pump-and-dump scheme
- The market cap of HULK now stands at $3 million, down 85% from its peak
- Traders took to Twitter to express feeling swindled by the coin’s demise
Hot Take: Crypto Disappointment 😞
Celebrities like Hulk Hogan jumping on the crypto bandwagon can be risky for investors, as seen with the HULK token scam. Always exercise caution and do thorough research before investing in meme coins or celebrity-backed projects.
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