The Curious Case of Meme Coins: A Wrestling Legend’s Posthumous Hijinks

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It is with a heavy heart that we must report the untimely demise of the illustrious Hulk Hogan, a champion of the wrestling world, who departed this earthly realm just yesterday. Alas, his passing has stirred an effervescent frenzy amongst the realm of meme coins and NFTs. Indeed, as if by some macabre magic, a multitude of HULK tokens emerged, rapidly capturing the fleeting attention of the public, only for the largest among them to reveal itself as a rather dubious rug pull scam. 🧐

One may recall that during the previous annum, our esteemed Hogan’s X (a platform once known by the common name of Twitter) was subject to an unfortunate hacking incident, aimed at the promotion of yet another fictitious meme coin. The curious resurrection of this non-existent token commenced posthaste after yesterday’s lamentable news. 🤦‍♂️

Scoundrels Exploit the Mortality of a Legend

The realm of meme coins possesses an insatiable appetite for any opportunity to unveil a tantalizing new token, and the venerable Hulk Hogan’s recent demise has evidently served as prime fodder for this enterprise. 👀

In the wake of his demise, there materialized a so-called “Hulk Hogan Tribute” token, which, whilst being promptly identified by vigilant watchdogs as a scam, miraculously swelled to a market capitalization of $7 million before it too fell into the abyss of oblivion. As we observe this spectacle, one must ponder whether such a disappointment was ever in doubt. 💸

As implied by the swift and thorough collapse of the market, this Hulk Hogan Tribute candidly signifies a classic rug pull scheme. Moreover, a goodly number of users openly confessed to orchestrating nefarious bot campaigns aimed at artificially inflating HULK, all in the hope of obtaining a fleeting windfall. The tendency of real-life tragedies to be exploited for such ignoble gains seems to be a truth as old as time. 😒

Nevertheless, it is imperative to note that this scam does not constitute the sole Web3 endeavor hailing from Hogan’s austere branding to emerge in recent days. Indeed, traders have released hapless NFT collections in his honor, whilst an array of meme coins presently navigates the treacherous waters of the DEX ecosystem. 🧐

Sadly, none have garnered attention quite like the notorious Hulk Hogan Tribute, bolstered relentlessly by its mischievous social media puppeteers.

Curiously, we recall that Hogan’s very own X account had endured a hacking episode last year, facilitating the promotion of a similar scam token. Following a swift reclamation, his team eradicated the posts and similarly dealt with the “Hulkamania” HULK token, which also fell victim to the rug pull philosophy. Today, however, traders have elevated this token from the ashes, allowing it a final, albeit rather misguided, flourish of activity following our hero’s demise. 📈

The data suggests that this HULK token embraced a similar plummet, albeit its trajectory stands in stark contrast to the previous rug pull. Ironically, one might find that last year’s scam exhibited a level of integrity far superior to an asset that debuted less than a day prior. 👫

While it reached only one-seventh of the market cap, the slow descent accompanied by deceptive cat-like rebounds provided numerous opportunities for enterprising profit-seekers. One must marvel at the resilience of retail investors who, in their fervor, persist in trading meme coins even after their initial promises were revealed as chimeras. It appears that Hulk Hogan’s unfortunate departure has incited a resurgence of such activity, alongside a new wave of dubious rug pull enterprises.

Could there lie beneath this chaotic tale a kernel of wisdom regarding the meme coin market? It seems rather Sisyphean to issue warnings to investors ensnared in the enticements of contrived hype bubbles; yet, could it not be argued there exists genuine enthusiasm within the community? 🤷‍♀️

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2025-07-25 19:21