{"id":406398,"date":"2025-09-27T17:21:26","date_gmt":"2025-09-27T11:51:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/meme-coin-modeled-on-baby-shark-creator-collapses-crypto-news\/"},"modified":"2025-09-27T17:29:20","modified_gmt":"2025-09-27T11:59:20","slug":"meme-coin-modeled-on-baby-shark-creator-collapses-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/meme-coin-modeled-on-baby-shark-creator-collapses-crypto-news\/","title":{"rendered":"Meme Coin Modeled on Baby Shark Creator Collapses &#8211; Crypto News"},"content":{"rendered":"<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<div class=\"pt-8 pb-10 border-t border-b border-decryptGridline \">\n<h4 class=\"sc-b2a202e4-4 bNRGqr gg-dark:text-white\" color=\"#333\">In brief<\/h4>\n<ul>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">A meme coin modeled on Baby Shark\u2019s creator collapsed.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Pinkfong said the token created using Story Protocol was unaffiliated.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Story Protocol deleted posts, but sleuth ZachXBT saved some receipts.<\/li>\n<\/ul>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">A meme coin touting Pinkfong\u2019s name collapsed on Thursday after the entertainment company behind YouTube hit Baby Shark said that it was unaffiliated with the token.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The meme coin, which was created using Story Protocol\u2019s network for managing intellectual property rights and creating derivative works, was issued \u201cwithout authorization,\u201d Pinkfong <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/Pinkfong\/status\/1971140422878797983\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">said<\/span><\/a><span style=\"font-weight:400\"> in a post on X, promising \u201cgrave legal consequences\u201d for those violating the law.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Although Story Protocol is designed to remove rent-seeking intermediaries from the IP industry, it appears that a purported misunderstanding between two of its users has potentially created more work for lawyers than projects that secured the rights to Pinkfong\u2019s IP traditionally.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Pinkfong is more than just a pink fox: The South Korean firm, which has generated more than 140 billion cumulative views across its YouTube channels, is responsible for the most popular video on YouTube, featuring iconic lyrics like \u201cBaby shark, doo doo doo doo doo doo.\u201d<\/span><\/p>\n<p><iframe loading=\"lazy\" style=\"border:0\" src=\"https:\/\/myriad.markets\/embed\/market\/ethereum-s-next-hit-moon-to-5-000-or-dip-to-3-500\" width=\"100%\" height=\"415px\"><span data-mce-type=\"bookmark\" style=\"display:inline-block;width:0px;overflow:hidden;line-height:0\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">In a now-deleted post on X, Story Protocol <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/zachxbt\/status\/1971401491643761052\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">said<\/span><\/a><span style=\"font-weight:400\"> that users could \u201cremix and expand\u201d the IP behind Pinkfong\u2019s furry mascot following its tokenization, according to screenshots shared by pseudonymous blockchain sleuth ZachXBT on Thursday.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cFascinated to see how this collaboration unfolds,\u201d Story Protocol co-founder and CEO S.Y. Lee said in a now-deleted post.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><i><span style=\"font-weight:400\">Decrypt<\/span><\/i><span style=\"font-weight:400\"> has reached out to Story Protocol for comment.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The meme coin debuted on Story Protocol\u2019s network had a market capitalization of $6.32 million on Friday, according to <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/dexscreener.com\/story\/0xa3d2605b61c44f3ec67dea94e7db0ea28e73ae8e\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">DEX Screener<\/span><\/a><span style=\"font-weight:400\">. A few hours after its kickoff on Tuesday, the token rocketed to a market capitalization of $519 million.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Bubblemaps, a popular on-chain visualization tool and crypto sleuthing firm, <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/bubblemaps\/status\/1970893265621913884\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">said<\/span><\/a><span style=\"font-weight:400\"> on X that it found insider activity around the meme coin. It found no evidence that the activity was linked to Story Protocol, but around 7% of the token\u2019s supply was scooped up immediately.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The price of Story\u2019s native token, which serves as the platform\u2019s underlying medium of exchange, has been volatile, meanwhile. Since Tuesday, Story\u2019s price has fallen from $12.91 to $7.24, while settling around $9.35, according to crypto data provider <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/story\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">CoinGecko<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Pinkfong has endorsed two meme coins that exist on Solana and BNB Chain. As mentioned before, the unofficial one exists on Story\u2019s network. It debuted through a platform called IP World, which says that it is \u201cbuilt for degens, by degens.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The project said that it had been working with a licensed partner of Pinkfong\u2019s, but it learned that the company\u2019s license wasn\u2019t valid, based on agreement that it had with another licensee. Nobody was prevented from engaging with the IP until that was verified.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">IP World said that the incident, while frustrating, showcased some of its safeguards. Because the IP wasn\u2019t verified on IP World, \u201ccreator fees remain locked on the protocol and cannot be claimed until the rightful IP owner is confirmed.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The collapse of the unofficial Pinkfong meme coin has <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/mdudas\/status\/1971348255792631933\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">provoked<\/span><\/a><span style=\"font-weight:400\"> scrutiny toward Story Protocol among some industry onlookers, but IP World made it clear on Thursday that the network underpinning its service had little to do with the actual problem.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cStory Protocol, the blockchain on which IP World operates, was never a party to this agreement nor was it in any way involved in these licensing matters,\u201d the project said in a post on X on Thursday. \u201cWe are deeply sorry for the uncertainty and confusion this has caused.\u201d<\/span><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In brief A meme coin modeled on Baby Shark\u2019s creator collapsed. Pinkfong said the token created using Story Protocol was unaffiliated. Story Protocol deleted posts, but sleuth ZachXBT saved some receipts. A meme coin touting Pinkfong\u2019s name collapsed on Thursday after the entertainment company behind YouTube hit Baby Shark said that it was unaffiliated with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":406399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-406398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/406398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=406398"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/406398\/revisions"}],"predecessor-version":[{"id":406400,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/406398\/revisions\/406400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/406399"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=406398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=406398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=406398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}