Shark-themed memecoin tied to Busan viral craze reaches $1.2M market cap

A memecoin inspired by “Bukangi,” the shark that drew attention after appearing near Busan’s North Port, has emerged in the digital asset market, Gyeonggi Ilbo reported. The outlet said the token’s market capitalization reached about 1.7 billion won ($1.2 million) roughly a week after launching on memecoin issuance platform Pump.fun, while cautioning that memecoins remain highly volatile, citing the earlier case of the “Neukgu” coin, which surged before falling nearly 98% from its peak.