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Celebrities invade memecoins: Smackdown wrestler's rug pull!
It is alleged that legendary wrestler Hulk Hogan promoted Solana memecoin on the internet and then deleted the posts.
Step Finance's social media account Solana Floor reported that the token's market value decreased by $15 million after allegations that it deleted internet posts on Thursday introducing Solana memecoin by WWE wrestling legend Hulk Hogan.
Legendary wrestler deleted the post, memecoin started to collapse.
Some users on X shared screenshots that appear to be comments promoting the HULK memecoin, allegedly posted by Hogan's account in the early hours of the day. Block reached out to the wrestler's official website for comment but did not immediately receive a response.
According to data compiled by The Block Pro, the release of memecoins is becoming increasingly easy, and there has been an explosion in the memecoin market in recent months, with approximately half a million tokens created in the Solana ecosystem in May alone. On Wednesday, Ethereum co-founder Vitalik Buterin said he was unhappy with celebrities' memecoin experiments.
This article does not contain investment advice or recommendations. Every investment and trading action involves risk, and readers should conduct their own research when making decisions.