Meme Insider
The HULK token (HULK), deployed on the Solana blockchain, is a meme coin that shot into the crypto spotlight in mid-2024, riding a wave of celebrity-linked hype and controversy. Let’s break down what happened, the technical and market details, and why this token has become a cautionary tale in the world of meme coins.
What Is the HULK Token?
The HULK token is an SPL (Solana Program Library) token. SPL tokens are Solana’s version of ERC-20 tokens on Ethereum—they can be traded, swapped, and tracked across Solana’s high-speed, low-cost blockchain.
Key technical details:
- Symbol: HULK
- Token Address:
DGAPvWgW8Nw8vpALxRMYWCCJBpaEchobmbwxsrFMbonk - Supply: Around 998.86 million HULK tokens
- Circulating Supply: Matches total supply (as of July 23, 2025)
- Token Type: SPL (fungible Solana token)
- Contract Verification: Not audited; transparency concerns remain
The Hype, the Hulk, and the Rug Pull
How It Started
In June 2024, HULK suddenly became one of Solana’s most talked-about tokens after a barrage of posts from the official Hulk Hogan (Terry Gene Bollea) X (formerly Twitter) account. These posts hyped the token and included DEX links, pushing FOMO (fear of missing out) into overdrive.
The result? HULK’s market cap exploded to nearly $19 million almost overnight.
The Crash and the Truth
Barely a day later, the promotional posts vanished. Hulk Hogan quickly disavowed any involvement via his Instagram, stating his X account had been hacked and denying any association with the HULK token.
Almost immediately, the token’s market cap crashed from $17–19 million down to about $2–3 million—wiping out an estimated $15 million in value.
On-Chain Evidence of a “Rug Pull”
On-chain sleuths, such as those at Bubblemaps, flagged that five wallets snapped up 15% of the HULK supply right before the X account’s promos began. These wallets then dumped their tokens into the rally, pocketing hefty profits at the expense of latecomers—classic “pump and dump” or “rug pull” tactics.
What’s a rug pull? It’s a scam where insiders hype a token, drive up its price, then quickly sell their large holdings, leaving the community holding the bag as prices tank.
Market Performance: Where Does HULK Stand Now?
As of July 23, 2025, HULK is a shadow of its former self:
- Market Cap: ~$151,000
- 24h Trading Volume: Less than $0.05 (basically zero liquidity)
- Number of Holders: 13
- Verified Status: Marked “unverified” on several platforms
Multiple HULK-branded tokens have popped up on Solana (with different addresses), adding to confusion and risk for unsuspecting buyers.
Community and Social Sentiment
Meme tokens live and die by their communities. In HULK’s case:
- Initial Sentiment: Excitement mixed with nostalgia—“Hulkamania” memes and hype posts
- Aftermath: Skepticism, anger, and warnings after the rug pull allegations
- Official Channels: No confirmed or active website, Twitter, or Telegram for the primary contract
Some attempts at community-driven “revival” of the token surfaced, but none regained meaningful traction or market trust.
Risks and What to Watch For
Here’s why HULK should be approached with extreme caution:
- Extreme Volatility: Price moves are based on hype, not real utility
- Pump and Dump Schemes: On-chain analysis strongly suggests insider selling during the peak
- Lack of Utility: No unique tech or project beyond the meme
- Security Risks: No contract audits or transparent devs; previous high-profile account hack
- Low Liquidity: Difficult to buy or sell without massive slippage
- Multiple Tokens: The same “HULK” name is reused across different contracts, making scams easier
- Unverified Contract: No audit or public developer info
Security tip: Always confirm token addresses via Solscan and store assets in secure hardware wallets like Ledger or Trezor.
Lessons for Meme Coin Investors
HULK is a textbook example of why meme coins—especially those linked to celebrities—carry outsized risk. Here are some takeaways:
- Don’t trust hype—especially if fueled by celebrities. Social media posts can be faked or the result of hacked accounts.
- Always verify contract addresses. Scammers often clone tokens or use similar names.
- Never invest money you can’t afford to lose. Meme tokens can hit zero overnight.
- Look for transparency: Is there an active community, audit reports, or clear dev communication?
- Use secure wallets and double-check links. Protect yourself from phishing and malicious tokens.
Recommended Tools for Tracking Meme Tokens
If you’re serious about tracking meme coins like HULK (or want to avoid the next rug pull), tools like GMGN.AI can provide real-time analytics, security checks, and wallet monitoring across Solana and other chains. They help traders spot suspicious patterns and make informed decisions in the fast-moving world of meme tokens.
Check out Hulk’s profile and live data on GMGN.AI.
Final Thoughts
HULK’s rise and fall highlights the dangers lurking in meme token land: viral hype, lack of transparency, and the ever-present risk of rug pulls. As a blockchain practitioner or investor, do your homework, use advanced tools, and always approach speculative coins with a healthy dose of skepticism.
Stay safe, stay skeptical, and never let hype drive your decisions.
