Crypto Market Slides: AVAX Drops 18% in a Week, “Baby Shark” Token Crashes 90% – 26/9/2025
The crypto market continued its recent slump this week, with Avalanche’s AVAX and a “Baby Shark” memecoin among the worst performers, highlighting lingering volatility despite institutional and promotional support.
AVAX Struggles Despite Institutional Initiatives
Avalanche’s native token AVAX fell 8% in the past 24 hours to $27.72, extending a weeklong slide that erased nearly 18% of its value. The token has repeatedly struggled to break resistance at $30.28, with support only around $27.65. CoinDesk Analytics reported trading volume at 121,896 tokens on Friday, suggesting institutional selling may be easing but has yet to reverse the downtrend.
The decline comes amid efforts to boost institutional confidence. AgriFORCE Growing Systems recently rebranded as AVAX One, announcing plans to raise $550 million to acquire and hold AVAX. The Nasdaq-listed firm assembled a high-profile advisory team led by SkyBridge Capital founder Anthony Scaramucci and Coinbase Institutional’s Brett Tejpaul, with plans to hold over $700 million in the token. While these moves position AVAX One as a major custodian and institutional backer, the market has yet to respond with significant buying momentum. Regulatory approvals for related token vehicles remain pending.
“Baby Shark” Token Plummets After Unauthorized Claims
Separately, a cryptocurrency promoted as an official Baby Shark token crashed 90%, falling from $0.35 to below $0.064 on Story Protocol. Seoul-based Pinkfong Co., the creator of the viral children’s song with over 16 billion views, clarified that the token had “no affiliation whatsoever” with the company.
The memecoin, which briefly reached a $200 million market cap, was minted via IP.World, which admitted it relied on incorrect rights provided by a Pinkfong licensee. IP.World said its verification process prevented creator fees from being released. Despite the clarification, traders who assumed official backing—encouraged by influencer endorsements and Story Protocol’s promotions—continued trading. Blockchain analytics firm Bubblemaps reported that at least one entity acquired roughly $10 million worth of the token (around 7% of its supply) within the first minute of trading.
Market Implications
Both events underscore the fragility of current crypto market sentiment. Institutional and corporate initiatives aimed at supporting AVAX and licensed tokens have yet to overcome broader selling pressure, while missteps in branding and authorization can lead to rapid, sharp losses for memecoins.
