The crypto markets once again responded in dramatic fashion to celebrity deaths, as memecoins based on wrestling icon Hulk Hogan and heavy metal legend Ozzy Osbourne exploded in value following public announcements of their passing this week.
Terry Bollea, better known by his professional wrestling name Hulk Hogan, was pronounced dead Thursday at the age of 71, reportedly after suffering cardiac arrest at his Florida home. His death comes just days after legendary rocker Ozzy Osbourne, 76, passed away on Tuesday. The back-to-back loss of two cultural titans sent waves through both entertainment and Web3 communities - and, as has become a familiar pattern, also ignited a frenzy in crypto’s volatile memecoin sector.
On the heels of the deaths, dozens of newly created memecoins referencing Hulk Hogan and Ozzy Osbourne began trading on decentralized exchanges, with some posting astronomical - albeit likely unsustainable - gains.
A new Wrapped Ethereum token called Hulkmanaia (HULK) surged over 122,000% at its peak shortly after creation, trading as high as 0.001335 ETH, according to DEXTools. The token was reportedly created less than eight hours before the pump, and while it has attracted speculative attention, there is no verified connection to Hulk Hogan’s estate or family.
Simultaneously, another Ethereum-based coin known as The Mad Man (OZZY) - clearly attempting to leverage Osbourne’s nickname - rose 16,800%, hitting a price of $0.003851 and a brief market cap of $3.85 million.
Analysts and security experts caution that these coins appear opportunistic, with many showing hallmarks of rug pulls or low-liquidity traps. Several of the top-gaining memecoins were later found to have renounced contracts or single-owner wallets, raising red flags about sustainability or even investor safety.
“These coins are a form of cultural front-running,” said Lisa Franco, a blockchain security researcher at Cyver. “Developers exploit news cycles, human grief, and search volume for a quick hit. It’s speculative at best, criminal at worst.”
NFT Surge: Osbourne’s CryptoBatz Resurfaces
Amid the memecoin surge, Ozzy Osbourne’s official NFT project - CryptoBatz - also saw a revival, with a spike in activity and sales on OpenSea and Blur as fans and collectors rushed to secure memorabilia from the rock icon’s blockchain legacy.
CryptoBatz, launched in early 2022 in partnership with Sutter Systems, was one of the first celebrity-backed Ethereum NFT projects. At the time, it was marketed as “the first of its kind to allow biting and creating mutant NFTs.” The project had faded from prominence but saw a 500% increase in secondary volume following Osbourne’s death announcement.
While the NFT project has the musician’s branding, its official status and royalty structures remain unclear following multiple management changes and the broader NFT market’s contraction in 2023–24.
Solana-Based HULKAMANIA Spikes 2000%, But Concerns Remain
Meanwhile, an older Solana-based token, HULKAMANIA (HULK), which launched on June 6, 2024, also experienced a resurgence. The token spiked over 2000% in 24 hours, reaching $0.0006146 with a temporary market cap above $500,000, according to DEXTools.
The token first gained notoriety last year after Hogan’s official X account posted about it, seemingly endorsing the project. However, those posts were later deleted, and Hogan publicly distanced himself, claiming the endorsements were made without his consent. Legal actions were rumored but never confirmed.
Despite the brief revival, HULKAMANIA remains far from its previous high of $18.8 million in market cap, reinforcing concerns that the memecoin's current gains are largely speculative and unsustainable.
Celebrity Deaths Fueling the Dark Side of Crypto Speculation
The deaths of Hogan and Osbourne are only the latest examples of a recurring trend in crypto: the rapid creation of opportunistic tokens following high-profile deaths or controversial news.
Earlier in 2024, the death of OJ Simpson prompted a wave of memecoins that used his name and likeness. In November 2023, the passing of Henry Kissinger triggered the launch of several joke tokens, many of which mocked his legacy in poor taste. In both cases, most of the tokens collapsed within hours or days, leaving late buyers holding near-worthless assets.
This phenomenon has become so widespread that blockchain security firms now track post-death memecoin activity in real-time. A January 2025 report by Solidus Labs labeled the trend a form of “event hijacking” - where dev teams leverage breaking news to manipulate short-term liquidity and drive viral marketing.
Investors Beware: Emotional Trading Carries Risk
While some investors may profit by being early to trend-driven memecoins, history suggests that most lose money, particularly as liquidity dries up, teams abandon projects, or contracts are hard-coded to block sales or redirect funds.
DEXTools and other aggregators have added more security warnings and smart contract audits in response, but the decentralized nature of token creation means that regulation or oversight is virtually nonexistent.
“These coins often lack transparency, governance, or even a roadmap,” said blockchain developer Ankit Singh. “People buy based on emotion - grief, nostalgia, or FOMO - without realizing they’re entering a casino.”
Memecoins typically fall under the category of “high-risk speculative assets,” and most exchanges have disclaimers warning against uninformed participation. Still, their accessibility, viral marketing potential, and cultural timing ensure they remain an active part of crypto’s speculative DNA.
Tributes Pour In from Fans and the Crypto Community
Outside of the speculative mania, tributes to Hulk Hogan and Ozzy Osbourne have poured in from fans, celebrities, and the crypto community alike.
Wrestling fans hailed Hogan as “the greatest of all time,” recalling his charismatic performances and larger-than-life persona that helped propel the WWF (now WWE) into a global entertainment brand in the 1980s and 1990s.
Osbourne, often called the “Prince of Darkness,” is remembered as a pioneering figure in heavy metal, with Black Sabbath credited as one of the most influential bands in music history. The band reportedly sold over 75 million albums worldwide.
On X and Reddit, artists and Web3 developers shared fan art, NFT tributes, and reflections on how the cultural legacies of both men had shaped their digital identities.
Final thought
The sudden spike in crypto activity following the deaths of Hulk Hogan and Ozzy Osbourne reveals the strange intersection of human emotion, celebrity culture, and decentralized finance. It’s a reminder that the crypto world moves at the speed of information - and that even grief can be commodified, monetized, and memed within minutes.
While some view this as a natural extension of participatory internet culture, others see it as a troubling symptom of the market’s moral flexibility.
In the end, both Hogan and Osbourne will be remembered not for the tokens bearing their names, but for their outsized impact on global pop culture. The memecoins will likely fade. The legends will not.