The recent passing of music and sports icons Ozzy Osbourne and Hulk Hogan has led to a notable surge in meme coins within the cryptocurrency space.
Meme Coins After Celebrity Deaths
Meme coins often arise after the death of renowned figures, with traders eager to capitalize on short-term price fluctuations. The cryptocurrency community actively leverages such events to launch speculative tokens.
Overview of Hulk and Ozzy Meme Coins
The recently launched HULKAMANIA coin on Solana experienced a price spike of 4,700% before retracting to a 1,300% increase within a day. The Ozzy The Otter meme coin similarly saw a 180% rise before falling by 60% from its peak.
Previous Emergence of Meme Coins
The death of Queen Elizabeth II in 2022 also triggered the launch of various meme coins, like 'Queen Elizabeth Inu.' These tokens initially surged in price but later returned to near-zero values, prompting controversy over the morality of such practices.
The launch of meme coins following celebrity deaths raises debates within the crypto community. While they can provide short-term profits, their high volatility and lack of real utility necessitate caution among traders.
