Hulk Hogan, the retired American wrestler, has denied any association with several deleted posts on platform X that previously promoted the Solana blockchain's meme coin, HULKAMANIA (HULK). The coin experienced a rapid rise and fall in a short period, with its market value peaking at $18.8 million before plummeting to $2 million and maintaining that level.

Hogan clarified on Instagram, 'Please do not pay attention to any posts published today, they are not from me and will be deleted soon.' Despite the removal of Hogan's posts on platform X, Google search cache indicates that his account was once linked to the promotion of the token. A video of Hogan shared by a Mashable reporter was mistakenly associated with the token's release, but it was actually an old video promoting a karaoke night from last year.

The incident has raised questions about the authenticity of Hogan's involvement with the token. According to data from DEX Screener, HULK reached a market value peak of $18.8 million one and a half hours after its release on June 7th, before quickly falling to $2 million and maintaining that level. Cryptocurrency analysis company Bubblemaps reported that five wallets purchased 15% of the HULK supply before Hogan's share and subsequently sold tokens worth $200,000.

It is currently unclear whether Hogan's account was hacked, and his team has not responded to requests for comment. This incident comes amidst a series of celebrities launching their own cryptocurrency tokens, raising concerns about the authenticity and legitimacy of these tokens.

In conclusion, Hulk Hogan's denial of association with the Solana blockchain's meme coin, HULKAMANIA, has raised questions about the authenticity of his involvement with the token. The rapid rise and fall of the coin's market value has also sparked concerns about the stability and legitimacy of the cryptocurrency market.