Unauthorized “Baby Shark” Token Collapses 90% Following Brand Owner Clarification – 26/9/2025
A cryptocurrency token promoted as an official Baby Shark release plunged 90% after the brand owner confirmed it was unauthorized. The memecoin, initially marketed as representing YouTube’s most-viewed video, dropped from a Tuesday high of $0.35 to below $0.064 on Story Protocol, a layer-1 blockchain focused on intellectual property.
Seoul-based Pinkfong Co., the creator of the two-minute children’s music cartoon that has amassed over 16 billion views since 2016, issued a statement on X Friday, clarifying that the token had “no affiliation whatsoever” with the company.
The token, which briefly reached a market capitalization of $200 million, was minted via IP.World, which acknowledged it had relied on incorrect rights provided by a Pinkfong licensee. IP.World noted that its verification process prevented creator fees from being distributed and expressed regret, stating the launch was believed to be fully authorized by both the platform and the community.
Pinkfong emphasized that only two assets—the Baby Shark Meme on Solana and Baby Shark Universe Token on BNB Chain—are officially endorsed. Despite the clarification, traders who had entered the token under the assumption of official backing were largely unshaken, influenced by endorsements from social media influencers and promotional efforts by Story Protocol.
Blockchain analytics firm Bubblemaps also reported that at least one entity used multiple new wallets to acquire approximately $10 million worth of the token—about 7% of its supply—within the first minute of trading on Sept. 23. IP.World named the licensee involved, but CoinDesk has been unable to contact the company for comment.
