5 hours ago
The token, pitched arsenic an authoritative Baby Shark play, was not an authorized product, brand-owner Pinkfong said.
Sep 26, 2025, 3:03 p.m.
A "Baby Shark" token hyped past week arsenic officially representing the astir viewed video connected YouTube, slumped 90% aft the issuing level said the institution minting the memecoin belatedly realized it didn't person the authorization to bash so.
The token tumbled to nether 0.064 cents from Tuesday’s 35 cents precocious connected Story Protocol, a layer-1 blockchain specializing successful intelligence property, aft the marque owner, Seoul-based Pinkfong Co., issued a ceremonial announcement connected X connected Friday saying the token had “no affiliation whatsoever” with the company.
Baby Shark, a two-minute agelong euphony cartoon aimed astatine young children has garnered much than 16 cardinal idiosyncratic views since its 2016 launch. The token, which had a highest marketplace headdress of $200 million, was issued utilizing IP.World, which said it relied connected faulty rights provided by a Pinkfong licensee and said its verification process blocked creator fees from being released.
“We, and the community, had each crushed to judge the motorboat was afloat authorized,” IP.World said.
(DEXTools)
In its post, Pingfong said only 2 assets, a Baby Shark Meme connected Solana and Baby Shark Universe Token connected BNB Chain, are officially endorsed.
The connection did small to calm traders who had piled successful nether the content of the token was an authoritative Pinkfong collaboration, amplified by influencer endorsements and Story Protocol’s ain promotional push.
Separately, blockchain analytics steadfast Bubblemaps reported that astatine slightest 1 entity funneled funds done aggregate caller wallets to snipe $10 cardinal worthy of proviso successful the archetypal infinitesimal of trading — representing astir 7% of the token’s proviso connected its Sept. 23rd issuance.
While IP.World named the licensee, CoinDesk is not doing truthful arsenic it has been incapable to interaction the institution acrophobic for comment.
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