#人生k线 Why did it crash so badly? The full story

1. How did this all start?

人生 K 线 initially began as a tool project with a strong Web3 and esoteric vibe, focusing on generating life curves and predicting fortunes. Although it was not a token project, its IP gained popularity in the Chinese-speaking community. As a result, community members spontaneously created a meme coin named $人生K线 based on this IP, leveraging the narrative and traffic of 人生 K 线. From that moment on, the product IP and the meme coin became widely conflated in users' minds.

2. Cyber Merit Box

On January 10, Sakura announced the 'Cyber Merit Box' with a preview, proposing that donating BSC tokens would grant access to a premium KEY for 人生 K 线, with a commitment to destroy 50% and donate 50% to Giggle Academy, while also soliciting community feedback.

3. Opinion Labs

On January 11, 人生 K 线 integrated with Opinion Labs to analyze event links. The overall interaction was positive, and market sentiment briefly improved.

But on January 12, the situation took a sharp turn: Sakura announced the establishment of a foundation, revealed a multi-signature wallet, reiterated the donation rules (50% destruction / 50% charity), and stated that the official launch was imminent.

4. Sakura Wallet Controversy

Later that afternoon, community accounts began conducting on-chain investigations, revealing that transaction fees from $人生K线 were flowing into Sakura's personal wallet rather than the foundation address. The meme coin's price plummeted rapidly, triggering a panic sell-off.

Sakura then posted a clarification, stating she was merely a poor college student, and that the total tax revenue she had received was limited (around 30,000 CNY), insufficient to cover costs. She had already repurchased and destroyed 10% of the tokens.

She also declared that her personal wallet would no longer accept any donations, officially disassociated the 人生 K 线 project from the meme coin with the same name, and tightened and adjusted the merit donation rules.

5. Second Long Post Clarification

On January 14, Sakura released another lengthy post to clarify the situation. She emphasized that merit donations would only occur via the official website, with funds fully traceable on-chain (destruction / donation to Giggle), that 人生 K 线 would focus solely on product development and overseas operations, and that there was no connection whatsoever between the project and the meme coin. She also stated she had contacted lawyers to address defamation and personal threats.

However, public sentiment had already reversed. Negative comments increased significantly, and the community reached a consensus: the issue wasn't just about money, but about the long-standing blurring of boundaries between the IP and the meme coin, as well as misaligned narratives and responsibilities, ultimately triggering a trust crisis.

Against this backdrop, the price of the $人生K线 meme coin was halved.