Professional wrestler Hulk Hogan has launched a memecoin called $HULK on the Solana blockchain via Pump(.)fun, with the tagline 'the biggest PUMP on Solana.' The coin quickly reached a market capitalization of $10 million and was actively promoted by Hogan on social media. However, shortly after the launch, users reported that the coin appeared to be a scam, with many investors losing money due to what seemed to be a hack and rug. Hogan's related posts and comments on social media have since been deleted, leading to further speculation and disappointment among his followers.