In the last two months of 2023, the "shovel craze" that emerged from the Bitcoin ecosystem has shown a surprising wealth effect. MUBI and BSSB have taken off AUCTION and TURT, plus BAKE, which appeared later, each " "Shovel Coins" all have glorious moments when they double in a few days. In the crypto community, there are many voices that connect this IDO craze with the history of ICO and IEO from 2018 to 2021, viewing it as a powerful booster for a new round of bull market.
However, from November 12, 2023, when Bounce Brand completed MultiBit’s IDO and launched MUBI, to January 1, 2024, the “shovel market” seemed to have come to an end in 50 days.
