Busan Shark 'Bukang-i' Even Gets Its Own Coin... Market Cap Reaches 1.5 Billion Won

[Financial News] A memecoin named after 'Bukang-i,' the shark that appeared at North Port Waterfront Park in Busan, has been launched and is now being traded.
Just over a week after its launch, its market capitalization surpassed $1 million, but the coin showed high volatility, with its price falling by around 10% in just over two hours.
According to the virtual asset industry on the 28th, 'Bukang-i Busan Shark (Bukangi)' was launched on the 20th through Pump.fun, a Solana-based memecoin issuance platform, and is now being traded.
As of 4:17 p.m. that day, the Bukang-i memecoin was priced at $0.00112890 per coin, with a market capitalization of approximately $1.13 million (about 1.5 billion won). At 2 p.m., it was priced at $0.00126142 per coin, with a market capitalization of $1.26 million (about 1.7 billion won), but both the price and market capitalization fell by around 10% in just over two hours.

The coin was created around 'Bukang-i,' the shark that appeared in Busan. Memecoins are virtual assets issued based on memes, or online trending content. Their prices often move more in response to buzz and investor interest than to actual utility. High volatility and a strongly speculative nature are also characteristic of these coins.

However, memecoins with small market sizes can rise and fall sharply over short periods as trading volume and investor interest change. When there are few market participants, even relatively small inflows or outflows of funds can cause significant changes in a coin's price and market capitalization.


[email protected] Han Seung-gon Reporter