Memecoins linked to metal legend Ozzy Osbourne and wrestling icon Hulk Hogan soared following their deaths in a rally driven by nostalgia and speculative trading.
Terry Bollea, better known as Hulk Hogan, passed away after a heart attack, while Ozzy Osbourne passed away at the age of 76.
Hulk Hogan, Ozzy Osbourne Meme Coins Soar
Memecoins inspired by and paying tribute to wrestling legend Hulk Hogan and Black Sabbath frontman Ozzy Osbourne skyrocketed as tributes over their deaths flooded the internet. Hogan was pronounced dead in a hospital on Thursday after medics arrived at his home to answer for a possible cardiac arrest. Hogan’s death comes only days after Ozzy Osbourne, the frontman of legendary metal band Black Sabbath, passed away at home at the age of 76.
Hulk Hogan was easily the most famous wrestler in the WWF, now WWE, during the 80s and 90s. Hogan’s career spanned decades as he wowed audiences in the ring and across television and film. On the other hand, Ozzy Osbourne, often called the Prince of Darkness, was one of the most legendary figures in the rock and metal world. Osbourne and Black Sabbath are estimated to have sold 75 million albums globally.
The crypto industry paid tribute to the two legends in its own unique way. A Wrapped Ethereum (wETH) token called Hulkamania (HULK) rose a staggering 122,000%, trading around $0.001335 at its peak. According to data from DEXTools, the memecoin was created only hours ago. Meanwhile, other memecoins using Ozzy Osbourne’s name have also popped up. One token, called The Mad Man (OZZY), pumped over 16,800% to trade around $0.003851, reaching a market cap of nearly $4 million. Ozzy’s passing also created a furore in the NFT market as fans rushed to get their hands on one of his official CryptoBatz collections.
Another Hogan Token
Hulk Hogan-inspired memecoins are nothing new. A Solana-based memecoin, HULKAMANIA (HULK), launched in June last year. The token has surged over 2,000% in the past 24 hours, trading at $0.0006146, reaching a market capitalization of $500,000. Despite the recent spike, the memecoin is far from its peak market cap of $18.8 million. The rally happened after Hogan promoted the token on his X account. However, the posts were later deleted, and Hogan claimed he didn’t make the posts.
Fans Driven By Emotion And FOMO
Most individuals bought the memecoins due to the fear of missing out (FOMO) and strong emotions. One crypto analyst stated,
“It’s sad how quickly people turn grief into a trading opportunity.”
This is not the first time the crypto market has exploded with memecoins following the death of a famous personality. Memecoins using the name of O.J. Simpson appeared in the market soon after he passed away. Former US Secretary of State Henry Kissinger’s death in November 2023 also spawned memecoins, several of them in bad taste.
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