-
Back to menu
Prices
-
Back to menu
-
Back to menu
Indices -
Back to menu
Research
-
Back to menu
Events -
Back to menu
Sponsored
-
Back to menu
Videos -
Back to menu
-
Back to menu
-
Back to menu
Webinars
Select Language
The token, pitched as an official Baby Shark play, was not an authorized product, brand-owner Pinkfong said.
By Shaurya Malwa|Edited by Sheldon Reback
Sep 26, 2025, 3:03 p.m.

- A token associated with Baby Shark plunged over 90% in value after brand-owner Pinkfong denied it was an authorized product.
- The token was launched by a Pinkfong licensee, that, according to issuing platform IP.World, later said it lacked the authority to do so.
- Pinkfong said only two tokens, on Solana and BNB Chain, are officially endorsed, causing the unauthorized token’s market collapse.
A “Baby Shark” token hyped last week as officially representing the most viewed video on YouTube, slumped 90% after the issuing platform said the company minting the memecoin belatedly realized it didn’t have the authority to do so.
The token tumbled to under 0.064 cents from Tuesday’s 35 cents high on Story Protocol, a layer-1 blockchain specializing in intellectual property, after the brand owner, Seoul-based Pinkfong Co., issued a formal notice on X on Friday saying the token had “no affiliation whatsoever” with the company.
STORY CONTINUES BELOW
Baby Shark, a two-minute long music cartoon aimed at young children has garnered more than 16 billion individual views since its 2016 launch. The token, which had a peak market cap of $200 million, was issued using IP.World, which said it relied on faulty rights provided by a Pinkfong licensee and said its verification process blocked creator fees from being released.
“We, and the community, had every reason to believe the launch was fully authorized,” IP.World said.

In its post, Pingfong said only two assets, a Baby Shark Meme on Solana and Baby Shark Universe Token on BNB Chain, are officially endorsed.
The statement did little to calm traders who had piled in under the impression of the token was an official Pinkfong collaboration, amplified by influencer endorsements and Story Protocol’s own promotional push.
Separately, blockchain analytics firm Bubblemaps reported that at least one entity funneled funds through multiple fresh wallets to snipe $10 million worth of supply in the first minute of trading — representing roughly 7% of the token’s supply on its Sept. 23rd issuance.
While IP.World named the licensee, CoinDesk is not doing so as it has been unable to contact the company concerned for comment.
More For You
Sep 9, 2025
Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
What to know:
- Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
- Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platform
- Open interest across centralized derivatives exchanges rose 4.92% to $187 billion
More For You
By Will Canny, Helene Braun, AI Boost|Edited by Stephen Alpher
1 hour ago
Alongside, JPMorgan downgraded IREN and CleanSpark
What to know:
- JPMorgan upgraded Riot Platforms to overweight, while downgrading IREN and CleanSpark.
- Citigroup also upgraded RIOT.
- HPC and AI cloud were seen as key upside drivers, with JPMorgan assigning a 50% probability of new co-location deals.