Hulk Hogan memecoin surges 122,000% as tributes honor late wrestling icon

The cryptocurrency market saw an unprecedented surge in speculative tokens tied to pop culture icons this week, as tributes poured in for wrestling legend Hulk Hogan, whose coin, Hulk Hogan memecoin, skyrocketed 122,000%, and rock icon Ozzy Osbourne, both of whom passed away days apart.

A newly created Hulk Hogan memecoin (HULK) skyrocketed by over 122,000% at its peak, while unauthorized Ozzy-themed tokens also saw massive spikes. The trend shows the volatile and often exploitative nature of memecoins, which frequently emerge around major celebrity events—especially deaths.

Hulk Hogan memecoin and Ozzy tokens see explosive, risky rallies

Within hours of Hulk Hogan’s death being reported on Thursday, a Wrapped Ethereum-based token called Hulkmania (HULK) surged to an astonishing 122,000% gain, peaking at $0.001335 before retracing. Similarly, an Ozzy Osbourne-inspired token, The Mad Man (OZZY), spiked 16,800%, briefly hitting a $3.85 million market cap.

Neither token has any official affiliation with the estates of Hogan or Osbourne, raising concerns about legitimacy.

“These tokens often appear and vanish within days, leaving investors with worthless assets,” — Mark Berman, crypto fraud analyst at Chainalysis.

Meanwhile, an older Solana-based Hulk Hogan memecoin (HULKAMANIA), launched in 2023, also saw a 2,000% spike—though it remains far below its all-time high of $18.8 million, set after Hogan’s X account (now deleted) briefly promoted it last year.

Memecoins capitalize on celebrity deaths—again

The phenomenon is not new. When O.J. Simpson died in April 2024, multiple Simpson-themed memecoins flooded the market. The same happened after Henry Kissinger’s passing in November 2023, with tokens mocking his controversial legacy.

“Memecoins thrive on hype, not utility. Celebrity deaths are just another opportunity for quick pumps and dumps,” — Sarah Johnson, DeFi researcher at CoinDesk.

The Hulk Hogan memecoin surge, like others before it, appears driven by speculative trading rather than genuine tribute. Most of these tokens lack liquidity locks or audits, making them prime candidates for rug pulls.

Fans mourn while crypto traders chase gains with Hulk Hogan memecoin

Beyond the speculative frenzy, genuine tributes honored both legends. Hogan, the face of 1980s WWE (then WWF), was hailed as wrestling’s greatest showman. Osbourne, Black Sabbath’s frontman and a heavy metal pioneer, was remembered as a defining voice in rock history.

Even NFTs saw action—Osbourne’s CryptoBatz collection spiked in trading volume as fans sought digital memorabilia. However, experts warn that celebrity-linked crypto assets often fade as quickly as they rise.

“Investors should be extremely cautious. These tokens are emotional plays, not investments,” — David Park, head of research at Messari.

Key points

• The Hulk Hogan memecoin (HULK) surged 122,000% posthumously, with no official ties to Hogan’s estate.

• Ozzy Osbourne-themed tokens also spiked, but like most celebrity memecoins, they carry high rug-pull risks.

• This pattern mirrors past celebrity death-related pumps, such as O.J. Simpson and Henry Kissinger memecoins.

• Fans celebrated Hogan and Osbourne’s legacies, while crypto traders chased volatile, speculative gains.