Preheat oven to 450 degrees F (230 degrees C). Coat a large rimmed baking sheet with olive oil.
Heat 3/4 cup hot sauce and butter together in saucepan over low heat, whisking constantly, until butter is melted and completely incorporated. Cool to room temperature.
Stir chicken, bread crumbs, hot sauce mixture, celery, and eggs together in a bowl until evenly mixed; roll into 1-inch balls and place on prepared baking sheet.
Bake in the preheated oven until cooked through, about 15 minutes. An instant-read thermometer inserted into the center should read at least 165 degrees F (74 degrees C). Cool on the baking sheet for 5 minutes. Transfer meatballs to a platter and drizzle with 2 tablespoons hot sauce.
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