The HULK token (address: BUPKYk9hqhjEn4cA7CkjbtRRb893hNoRYc1gp5D6YaCU) is one of the most talked-about meme coins on the Solana blockchain. It grabbed attention not just for its viral marketing and pop culture branding, but also for a wild ride of controversy, rapid market movements, and a community-driven rescue operation. This article breaks down everything you need to know about HULK, from its celebrity connections to what blockchain practitioners should consider before getting involved.

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Token Basics & Branding

HULK, sometimes called “HULKAMANIA” or the “Hulk Hogan Tribute” token, is branded after the comic book hero Hulk and the legendary wrestler Hulk Hogan. Like most meme coins, its true power lies not in technology or utility, but in community hype, viral content, and speculation.

No Roadmap, No Team, No Problem?

As with many tokens created via platforms like Pump.fun, HULK launched without a detailed whitepaper, technical roadmap, or public development team. The token’s main “utility” comes from trading and meme participation, living squarely in the decentralized finance (DeFi) side of Solana. While this has attracted risk-tolerant traders, it leaves little in the way of long-term security or innovation.

The Hulk Hogan Hype and the Roller Coaster Market

The most dramatic chapter for HULK came in June 2024. Supposed promotions from Hulk Hogan’s official X (formerly Twitter) account caused a massive influx of buyers. The market cap surged to nearly $19 million—only to collapse back to $1–2 million within minutes after the posts were deleted. Hogan later claimed on Instagram that his accounts were compromised, denying involvement and fueling speculation of a classic “pump-and-dump” or rug pull scenario.

During this frenzy, reports showed top wallets offloading tokens, leading to investor losses. Later, the Solana meme community staged a “community takeover” (CTO), keeping HULK alive as a grassroots project despite the controversy.

Distinguishing HULK from Copycats

Note that this particular HULK token is not the same as other similarly named tokens like “HULKED,” which also exist on Solana but have no direct connection to Hogan or this saga.

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Market Data: Volatility at Its Peak

• Current (as of July 24, 2025):

  • Market capitalization: Around $350,809
  • Token price: ~$0.000000007685 USD (DEX Screener)
  • Liquidity: Less than $1 in the main HULK/SOL pool on Raydium
  • Trading volume: Essentially flat, showing little current activity
  • Fully Diluted Valuation (FDV): Under $1—this means there isn’t much capital backing the market

• Historic performance:

  • Market cap spiked from $29,000 to $19 million during the initial pump, only to fall more than 90% in minutes.
  • Since then, the market cap stabilized between $1.5–$3.7 million during the community takeover, although volatility remains high.

• Holder stats:

  • Top 10 wallets control ~37% of supply.
  • No suspicious wallets detected recently.
  • Some major holders are still in profit despite past turmoil.

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Technical Details and Risks

• Blockchain: Solana, known for fast, cheap transactions
• Token standard: Likely SPL (Solana’s token protocol)
• Supply: Approximately 999 million to 1 billion HULK tokens, almost fully in circulation
• Contract flags: Analyses suggest the token contract might allow “minting” (creating more tokens) and “freezing” (blocking transfers). This gives whoever controls the contract significant power—potentially risky for investors.
• Exchange venues: Primarily decentralized exchanges like Raydium, Phantom, DEXTools, DEX Screener, and occasionally OKX or MEXC.
• Security: No major audit issues reported, but security audits for meme coins are not always thorough. Always exercise caution.

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Controversies: Rug Pull or Just the Meme Coin Game?

• Alleged rug pull: The June 2024 crash was triggered by the removal of promotional posts and a rapid price dump, raising alarm bells across crypto Twitter and news outlets. While Hogan denied involvement, many were left wondering whether developers or insiders orchestrated a “pump-and-dump.”
• Celebrity meme coins: HULK isn’t alone. The rise of Solana meme coins linked to celebrities (from Caitlyn Jenner to Iggy Azalea) means that hype can be manufactured, but is rarely sustainable. Even Ethereum founder Vitalik Buterin has critiqued this trend for lacking “public-good” value.
• Low liquidity: The tiny liquidity pools mean that even small trades can have a huge effect on the price. This is classic for highly speculative meme coins, amplifying both upside and risk.

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Community Sentiment & Takeover

• Mixed feelings: While some on X believe HULK could recover (“relie on Solana” as one user put it), many are skeptical due to the token’s controversial beginnings and unpredictable price moves.
• Nostalgia and tribute: The Hulk Hogan brand gives the coin unique meme potential, and the “community takeover” has fostered some optimism among holders.
• Community-driven future: The future of HULK now lies mostly with community efforts. Suggestions include launching DAOs for governance or embracing NFT campaigns to leverage the Hulkamania narrative.

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Risks and Caution for Blockchain Practitioners

• Extreme volatility: As shown by HULK’s history, meme coins on Solana can pump and dump without warning.
• Centralization risk: Contract functions like minting or freezing leave the project open to abuse if not in the hands of trusted, transparent parties.
• Transparency and data gaps: Without clear information on supply, developer identities, or project goals, investors are left with little to base decisions on other than hype.
• Legal and market challenges: The meme coin market is flooded with lookalikes, and regulatory attention on celebrity tokens is on the rise.

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Recommendations

1. For investors:

   • Only risk what you can afford to lose—meme coins like HULK are highly speculative.
   • Use real-time resources like Solscan and DEX Screener to track on-chain activity.
   • Consider storing tokens in secure wallets such as Ledger or Trezor.

2. For the community:

   • Push for transparency: Publish supply details and implement community governance.
   • Drive meme engagement: Harness social media, NFT drops, or charity events to keep the hype alive and positive.
   • Provide liquidity: More liquidity on DEXs helps stabilize the market.

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Conclusion

HULK stands as a textbook example of Solana meme coin culture—high-risk, high-reward, and prone to drama. While the community has stepped in to save the day (at least for now), HULK’s story is a warning about the dangers of celebrity-driven crypto launches and the importance of transparency, security, and genuine engagement. For blockchain practitioners and traders, due diligence and risk management are crucial in this wild west of meme tokens.

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For more detailed tracking, analytics, and trading tools for meme tokens like HULK, consider platforms such as GMGN.AI, DEX Screener, and Solscan.

Note: All data in this article is current as of July 24, 2025. The meme coin market is extremely volatile—always conduct your own research before making investment decisions.