Following the demise of wrestling star Hulk Hogan (Terry Bollea) and rock legend Ozzy Osbourne this week, the memecoins named after them gained popularity. Hulk Hogan (Terry Bollea), aged 71, died on Thursday from a possible heart attack, and rock legend Ozzy Osbourne, 76, passed away on Tuesday.
The deaths of both celebrities have led to an outpour of tributes from fans worldwide, and this includes manipulative trading activities. The coins made by fans saw prices surge after their demise.
A new Solana-based memecoin, Hulkmanaia (HULK), created just hours ago, had increased by 122,000% to trade at $0.001335. Similarly, a token called The Mad Man (OZZY) surged 16,800% to $0.003851, reaching a $3.85 million market cap.
Osbourne’s passing also drove a spike in his CryptoBatz NFT collection, as fans sought digital mementos. However, these tokens are unrelated to the estates of either icon, and many have vanished, likely as rug pulls or scams.
An older Solana-based memecoin, HULKAMANIA (HULK), launched June 6 last year, also spiked over 2,000% in 24 hours to $0.0006146, with a market cap exceeding $500,000. Last year, a cryptocurrency called HULKAMANIA peaked at $18.8 million in value after posts on Hulk Hogan’s X account promoted it. Those posts were later removed, and the account clarified that it wasn’t officially endorsed by Hogan’s team.
When famous people pass away, their new memecoins often appear, and their prices increase fast. This occurs because some people try to cash in on public emotions and the attention after a celebrity’s death, aiming to make fast profits.
Hogan ruled the wrestling world in the 1980s with WWF (now WWE) and appeared in movies and TV, while Osbourne, known as the Prince of Darkness, led Black Sabbath, a heavy metal band that sold about 75 million albums worldwide.
Also Read: Ozzy Osbourne’s Death Sparks a 650% surge in CryptoBatz NFT prices
Disclaimer: The tokens discussed have no formal endorsement from the estates of Hogan or Osbourne. Investors should proceed with caution, as many similar projects in the past have resulted in losses.
