Ethereum News Today: Hulk Hogan and Ozzy Osbourne Memecoins Surge 122,000% to 16,800% After Deaths

The crypto markets once again responded in dramatic fashion to celebrity deaths, as memecoins based on wrestling icon Hulk Hogan and heavy metal legend Ozzy Osbourne exploded in value following public announcements of their passing this week. Terry Bollea, better known as Hulk Hogan, was pronounced dead Thursday at 71 after cardiac arrest, while Osbourne, 76, passed away earlier in the week. The back-to-back losses triggered a surge in speculative tokens linked to their legacies, with some trading platforms reporting astronomical gains [1].

A new Ethereum-based token called Hulkmanaia (HULK) surged over 122,000% shortly after its creation, peaking at 0.001335 ETH on DEXTools. The token, reportedly launched less than eight hours before the price spike, has no verified ties to Hogan’s estate or family. Similarly, The Mad Man (OZZY), an Ethereum-based coin leveraging Osbourne’s nickname, rose 16,800%, hitting $0.003851 and a $3.85 million market cap [1]. Analysts warn these tokens exhibit hallmarks of rug pulls or low-liquidity traps, with many having renounced contracts or single-owner wallets [1].

Ozzy Osbourne’s legacy also saw a revival in the NFT space. His CryptoBatz project, launched in 2022, experienced a 500% increase in secondary volume on OpenSea and Blur after his death. Launched as “the first celebrity-backed Ethereum NFT project to allow biting and creating mutant NFTs,” CryptoBatz had faded from prominence but regained attention as fans sought digital memorabilia [1]. However, the project’s official status and royalty structures remain ambiguous due to management changes and the broader NFT market’s decline [1].

A Solana-based token named HULKAMANIA (HULK), launched in June 2024, also spiked 2000% in 24 hours, reaching $0.0006146. Previously, the token had gained notoriety when Hogan’s X account appeared to endorse it, though the posts were later deleted, and Hogan distanced himself from the project [1]. Despite the recent surge, HULKAMANIA remains far from its prior peak of $18.8 million market cap, underscoring concerns about its speculative nature [1].

The phenomenon reflects a recurring trend in crypto: opportunistic tokens capitalizing on high-profile deaths. Similar surges followed the deaths of OJ Simpson in 2024 and Henry Kissinger in 2023, with most tokens collapsing within days. Blockchain security firms now monitor such activity in real-time, labeling it a form of “event hijacking” where developers manipulate liquidity and drive viral marketing [1].

Experts emphasize the risks of emotional trading. “These coins lack transparency, governance, or even a roadmap,” said blockchain developer Ankit Singh. “People buy based on grief, nostalgia, or FOMO—without realizing they’re entering a casino.” Most exchanges warn against uninformed participation, as liquidity often dries up and projects abandon teams [1].

While tributes to Hogan and Osbourne poured in from fans and the crypto community, the market’s response highlighted the intersection of human emotion and decentralized finance. Both men will be remembered for their cultural impact—Hogan as a wrestling icon who globalized WWE, and Osbourne as a metal pioneer whose band sold 75 million albums—rather than the fleeting tokens bearing their names [1].

Source: [1] [title:Hulk Hogan and Ozzy Osbourne Memecoins Surge After Icons’ Deaths] [url:https://coinmarketcap.com/community/articles/688364d7d9d19935252ecdc8/]