The Hulk Hogan Solana memecoin appears to have lost $15 million in value after the wrestler deleted a post promoting the token.
WWE wrestling legend Hulk Hogan reportedly lost $15 million in market capitalization of the Solana memecoin after WWE wrestling legend Hulk Hogan deleted an internet post promoting the Solana memecoin on Thursday, according to Step Finance’s social media account Solana Floor. .
“scrapped ship “The Solana memecoin plummeted from $17 million to $2 million just minutes after he deleted his tweet about the coin,” a Solana-focused account posted.
Some users on The Block sent a request for comment to the wrestler’s official website but did not immediately receive a response.
The memecoin market has exploded in recent months as memecoins have become increasingly easier to launch, 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 “very dissatisfied” with the celebrity memecoin experiment.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.
