Hulk Hogan, Ozzy Osbourne Memecoins Spike 122,000% and 16,800% After Deaths

Memecoins inspired by the late wrestling icon Terry "Hulk Hogan" Bollea and rock legend Ozzy Osbourne have experienced dramatic price surges following their deaths this week. The trend aligns with historical patterns where celebrity fatalities trigger speculative trading in digital assets, though analysts warn of high-risk dynamics and potential fraud.

A Wrapped Ethereum (wETH) token named Hulkmanaia (HULK) surged over 122,000% to trade at 0.001335 on decentralized exchanges, according to DEXTools data. Created just eight hours prior to the price spike, the token appears unaffiliated with Hogan’s estate. Meanwhile, The Mad Man (OZZY), a token leveraging Osbourne’s public persona, jumped 16,800% to reach $0.003851, achieving a $3.85 million market cap. Both projects lack official ties to the deceased icons’ legacies, raising concerns about rug pulls and market manipulation [1].

A separate Solana memecoin, HULKAMANIA (HULK), which launched in June 2023, saw renewed interest after rising over 2,000% in 24 hours. Despite reaching $0.0006146 and a $500,000 market cap, the token remains far from its $18.8 million peak achieved following now-deleted social media promotions by Hogan’s account last year [1].

The phenomenon reflects broader crypto market behavior, where nostalgia and cultural sentiment drive short-term speculative demand. Unlike traditional investments, memecoins derive value from viral traction rather than utility or governance features. This creates volatility, as seen in previous cases where tokens linked to O.J. Simpson and Henry Kissinger emerged posthumously [1]. Critics emphasize that most such projects dissolve quickly, leaving investors with minimal returns.

Analysts note the absence of regulatory oversight exacerbates risks, as rug pulls and fraudulent schemes are difficult to trace in decentralized finance ecosystems. While a minority of memecoins may persist as niche collectibles, the majority are expected to fade as public interest wanes [1]. The surge also raises ethical questions about commodifying the legacies of public figures, blurring boundaries between mourning, marketing, and monetization.

Source: [1] ["Hulk Hogan, Ozzy Osbourne Memecoins Surge as Tributes Roll In Over Icons’ Deaths"](https://cointelegraph.com/news/hulk-hogan-ozzy-osbourne-memecoins-surge-death)