Bukangi memecoin reaches 1.7 billion won market cap a week after launch

  • Bukangi’s memecoin launched on Pump.fun on Sept. 20 and remains in circulation.
  • The token traded at $0.00126142 with a market capitalization of about $1.26 million.
  • Bus House, Love Bug, Neukgu and Fu Bao are other Korean-named memecoins.

A memecoin inspired by Bukangi, the shark that attracted public attention after appearing at Busan North Port Waterfront Park, launched on Pump.fun on Sept. 20 and was trading at $0.00126142 as of 2 p.m. on Sept. 28. Its market capitalization stood at about 1.7 billion won ($1.26 million). The launch reflects a broader trend of turning viral South Korean topics into speculative tokens, including Bus House, Love Bug, Neukgu and Fu Bao. Memecoin platforms allow tokens to be created with limited technical expertise, leading to frequent launches and sharp price swings. Industry watchers caution that thin trading activity can make prices unstable and market capitalization may not reflect actual market size. Researcher Ahn Kwang-ho of Tiger Research warned that investors who buy at the wrong time may be unable to sell. Gyeonggi Ilbo previously cited Neukgu as an example of a token that surged before falling nearly 98% from its peak.

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