Bullski Turns Its 16-Stage Presale Into a Journey Through Crypto's Biggest Bear Markets as Stage 3 Goes Live

By Panda Crypto News Editorial Desk
October 16, 2026 | Source: Bullski

LONDON, Oct. 16, 2026 - Bullski ($BULLSKI), the Ethereum-based community meme coin currently in Stage 3 of its 16-stage presale, is using an unusual structure to connect token distribution with more than a decade of cryptocurrency market history.

Instead of treating its presale stages only as progressively priced token rounds, Bullski has built each stage into a chapter of a larger mountain narrative.

The first three stages establish the story of the Bullski mascot and a hard drive buried in the ice of Mount Everest. From Stage 4 onward, each chapter introduces a new "bear" inspired by a major period of fear, disruption or market stress in crypto history.

Bullski's official website currently identifies the project as Stage 3/16, while its white paper names the current story chapter "Found in the Ice." Bullski

What comes next changes the structure.

Stage 4 introduces Bullski's first historical bear, inspired by crypto market turbulence in 2011. Later stages reference the 2014 Mt. Gox collapse, the 2016 DAO hack, the 2018 crypto winter, the COVID-era market shock, Terra/LUNA, FTX and other periods of instability before concluding with a chapter based around the 2024 post-ETF correction. Bullski

That makes Bullski's presale simultaneously a token distribution ladder, a branded story and a chronological tour through crypto's repeated boom-and-bust cycles.

Bullski Is Currently at the Story's Turning Point

Stage 3 occupies an important position in the Bullski narrative.

The first stage, titled "Frosthorn's Secret," introduces the story of Bullski's grandfather burying a hard drive containing the project's plans inside Mount Everest.

Stage 2, "The Realization," follows Bullski discovering the map and beginning the journey toward the mountain.

Stage 3 is where the hard drive is finally recovered.

Bullski's white paper depicts the mascot reaching a frozen ridge, uncovering a metal case inside the glacier and recovering the drive containing the project's white paper, presale strategy and community plans. Bullski

After that point, the narrative changes from a climb into a descent.

And every major obstacle on that descent becomes a bear.

By the Numbers

Bullski's website currently shows Stage 3/16, while previously published pricing information placed Stage 3 at $0.00002 after Stage 1 at $0.00001 and Stage 2 at $0.000015. The project's stated listing reference remains $0.0025, which should be understood as a project reference rather than a guaranteed future market price. Bullski

Stage 4 Introduces the First Bear

The transition into Stage 4 is where Bullski's larger concept becomes clearer.

Bullski calls Stage 4 "The First Bear."

The chapter is inspired by the 2011 Bitcoin flash crash and portrays a chaotic bear suddenly appearing on the mountain as Bullski begins his descent.

Rather than presenting market history through charts or technical analysis, the project converts the event into an obstacle that the mascot must physically ski around. Bullski

This formula then continues through the remaining stages.

Each market event becomes a different bear.

Each bear behaves differently.

And Bullski's response changes depending on the type of crisis being represented.

The presale therefore creates a narrative progression that can continue every time another stage is reached.

Stage 5 Takes on Regulatory Pressure

Stage 5 is based around China's 2013 crypto restrictions.

Bullski calls this chapter "The Authority Bear."

The bear is deliberately larger and more imposing than the previous obstacle, representing regulatory pressure rather than sudden market instability.

In the project's story, Bullski does not attempt to collide with the bear.

He takes a wider route around it.

The underlying branding message is endurance through changing regulatory conditions rather than confrontation. Bullski

This pattern becomes important across the 16-stage story.

The bears are not simply repeated versions of the same enemy.

Bullski assigns each one characteristics based on the type of event it represents.

Mt. Gox Becomes the Stage 6 Bear

Stage 6 moves to one of the defining events of crypto's early history: the collapse of Mt. Gox in 2014.

Bullski's white paper calls the chapter "The Bear of Darkness."

The mascot encounters the bear in fog and is forced to jump past it along a narrow mountain ridge.

The metaphor is straightforward.

Mt. Gox represented a major loss of confidence in early cryptocurrency infrastructure, so Bullski presents that period as a visibility and trust crisis rather than simply another market decline. Bullski

This is also where the project's storytelling begins to connect more directly with events that shaped the infrastructure of the modern crypto industry.

Ethereum's DAO Crisis Appears at Stage 7

Stage 7 moves from Bitcoin-era exchange risk into Ethereum history.

The chapter is built around the 2016 DAO hack, an event that ultimately contributed to the Ethereum network's controversial hard fork.

Bullski depicts the corresponding bear as fast and unpredictable.

The mascot reacts by making a rapid sideways movement and carving a tight path through the obstacle.

The chapter is called "The Agile Threat." Bullski

The choice is particularly relevant because $BULLSKI itself is an ERC-20 token deployed on Ethereum.

Bullski's current smart contract address is publicly listed in its white paper and the project says the contract is deployed on Ethereum Mainnet. Bullski

The 2018 Crypto Winter Becomes the Frost Bear

Stage 8 is perhaps the most natural fit for Bullski's mountain theme.

The 2018 Crypto Winter becomes "The Frost Bear."

Instead of appearing suddenly, this bear is portrayed as large, slow and covered in ice.

Bullski uses the chapter to represent the extended nature of a crypto winter rather than a single-day market shock.

The mascot continues down the mountain instead of becoming frozen in place. Bullski

It also ties directly into one of the central ideas behind the Bullski brand.

The project repeatedly presents its character as a mascot built to continue through both bullish and bearish market conditions.

That theme is summarized in its recurring slogan:

BULLISH BY DEFAULT.

Stage 9 Represents Uncertainty Rather Than Collapse

Not every Bullski bear represents a catastrophic event.

Stage 9 is based around the uncertain cryptocurrency market environment of 2019.

Bullski labels the chapter "The Confused Bear."

Instead of attacking directly, the bear moves unpredictably across the trail while Bullski waits, studies its movement and chooses the right moment to pass.

This gives the project another type of market metaphor: sideways uncertainty.

Bullski's white paper uses the stage to represent markets where direction itself becomes difficult to determine. Bullski

That makes the 16-stage structure broader than a list of crashes.

It includes hacks, regulatory shocks, prolonged bear markets, sudden liquidity events and periods of general macro uncertainty.

COVID Becomes the Blizzard Bear

Stage 10 moves into March 2020 and the COVID-era market shock.

The project calls this chapter "The Blizzard Bear."

Bullski's mountain becomes engulfed in a whiteout while another bear charges through the storm.

The mascot performs an emergency turn and continues the descent. Bullski

The chapter is designed around the defining characteristic of a black-swan event: speed.

Instead of having time to analyze an approaching obstacle, the character is forced to react immediately.

This keeps Bullski's visual language consistent with the type of market event being represented.

China's Mining Crackdown Appears at Stage 11

Bullski uses Stage 11 to depict China's 2021 Bitcoin mining crackdown.

The corresponding chapter is called "The Giant Blocker."

A large bear blocks most of Bullski's route and forces the character to find a narrow opening through the obstacle. Bullski

Again, the historical event is being simplified into a branded narrative.

Bullski is not attempting to provide an academic chronology of crypto history.

Instead, historical market episodes serve as creative reference points for the project's central concept: a bull repeatedly navigating bears.

That distinction is important when interpreting the white paper.

Stage 12 Takes a Lighter Approach

Stage 12 is intentionally different.

Bullski calls it "The Tweet Storm," referencing market volatility associated with Elon Musk's crypto-related social media activity in 2021.

Instead of a giant systemic bear, the project depicts this one as smaller and more irritating.

Bullski simply jumps over it and continues skiing. Bullski

The change in tone gives the project room to incorporate meme culture into a narrative that otherwise references several serious failures across the industry.

It also illustrates another part of Bullski's branding strategy.

Not every market movement is treated as an existential crisis.

Terra/LUNA Becomes the Systemic Bear

Stage 13 represents the 2022 Terra/LUNA collapse.

Bullski calls this chapter "The Systemic Bear."

The corresponding bear is considerably larger, representing an event whose effects spread well beyond a single token or platform.

The character lowers his stance and carefully carves around the obstacle rather than attempting an aggressive maneuver. Bullski

The timing of this chapter marks another transition in Bullski's historical sequence.

The final four stages focus heavily on the events and conditions that shaped the most recent crypto bear-market cycle.

FTX Is the Stage 14 Deceptive Bear

Stage 14 moves directly into the collapse of FTX.

Bullski calls the chapter "The Deceptive Bear."

Unlike previous bears that are visible on the trail, this one hides behind a snow-covered rock and attempts to surprise the mascot.

Bullski jumps across a crevasse to avoid it. Bullski

The visual choice connects FTX's chapter with hidden risk and failed transparency rather than simply falling prices.

It also gives Bullski one of its clearest combinations of narrative and project messaging.

Security and transparency have become increasingly prominent parts of Bullski's own ecosystem since the project completed its SolidProof smart contract review and KYC verification in September. Bullski's official homepage currently highlights both alongside staking and game development. Bullski

Stage 15 Moves From Crypto Risk to Macro Risk

Stage 15 is titled "The Heavy Bear."

Instead of being centered around the failure of a particular cryptocurrency company or protocol, the chapter focuses on the recession fears, inflation concerns and broader macroeconomic uncertainty that weighed on markets during 2023.

The bear is depicted as heavy and slow.

Bullski responds by maintaining a steady pace rather than making an aggressive move. Bullski

This extends the project's story beyond crypto-native events.

It acknowledges that digital asset markets are also affected by monetary conditions, economic expectations and global risk sentiment.

Stage 16 Ends With the ETF-Era Correction

Bullski's final presale chapter is Stage 16.

The project calls it "The Final Bear."

It is based around the market correction that followed the major ETF-driven period of crypto enthusiasm in 2024.

Bullski's character performs one final turn, clears the last obstacle and reaches the launchpad with the recovered hard drive. Bullski

This gives the 16-stage structure a defined narrative ending.

Stages 1 through 3 establish the mission.

Stages 4 through 16 represent the descent through historical bears.

And the end of Stage 16 brings the character to the launchpad.

The presale therefore has both an economic endpoint and a story endpoint.

The Presale Ladder Is Also a Content Engine

From a branding perspective, the structure gives Bullski something that many presales lack: a built-in sequence of future content.

Every stage transition creates another chapter.

Stage 4 can introduce the Flash Crash Bear.

Stage 5 can introduce the Authority Bear.

Stage 6 can introduce the Mt. Gox-inspired Bear of Darkness.

The same structure continues through Stage 16.

That means a presale progression can simultaneously create new artwork, animations, social posts, community competitions and narrative updates.

Instead of repeatedly announcing only that another token allocation has sold, Bullski can attach a new character encounter to each milestone.

For a meme coin, that distinction matters because the product being developed is not only a cryptocurrency.

It is also a recognizable character and universe.

The Ski Game Could Extend the Story Beyond the Presale

Bullski's planned ski game makes this narrative structure more relevant.

The project announced in September that it is developing a free-to-play downhill ski runner built around obstacle avoidance, jumping, sliding and weekly skill-based leaderboards.

Players will not need to own $BULLSKI simply to play, and token holdings are not intended to determine leaderboard position. Bullski

That creates an obvious potential bridge between Bullski's existing story and its future game.

The website currently presents Bullski skiing past historical bears.

The game turns skiing itself into an interactive product.

The project's mascot therefore moves through three different roles:

Meme character → Story character → Playable game character

That may eventually prove more important to the Bullski brand than any individual chapter of the presale narrative.

Bullski Is Building Around Character IP

Meme coins traditionally compete heavily on recognition.

A memorable name, mascot or visual language can become the foundation for social media content and community culture.

Bullski is taking that concept further by giving its character a persistent story.

The blue ski goggles, mountain environment, red scarf, bears and downhill journey all create recurring visual assets that can remain consistent across the website, social media, marketing and eventually gaming.

The presale itself becomes another part of that universe.

Instead of simply displaying:

Stage 3 of 16

Bullski can say:

Stage 3: Found in the Ice

And instead of simply moving to Stage 14 later, the project can introduce:

Stage 14: The Deceptive Bear

This is a different way of packaging the same underlying presale infrastructure.

Storytelling Does Not Change Presale Risk

The creative structure should still be separated from the financial structure.

A historical narrative does not determine future token demand.

A recognizable mascot does not guarantee exchange liquidity.

And the project's $0.0025 listing reference remains a project-stated benchmark rather than a guaranteed market price after trading begins.

Bullski itself notes on its website that projections based on its listing reference are projections rather than financial advice. Bullski

The same distinction applies to the 16-stage storyline.

It may help Bullski differentiate its brand and keep community content moving through the presale.

Whether that branding translates into sustained adoption will depend on execution after the story reaches its final stage.

Bullski's Ecosystem Is Beginning to Connect Around the Mascot

The broader Bullski ecosystem is increasingly centered around the same mountain identity.

Its website currently combines the 16-stage presale with pre-TGE staking, planned locked liquidity, a SolidProof-audited contract, community initiatives and the free-to-play ski game. Bullski

The tokenomics establish the financial layer.

The mascot establishes the identity.

The historical bears provide the story.

The game is intended to provide interaction.

And the weekly leaderboard structure could eventually provide recurring competition after the initial gaming launch.

Those pieces are still at different stages of completion.

The token contract exists and has been independently reviewed.

The presale is live.

Staking rules have been announced.

The ski game remains under development.

The full ecosystem therefore cannot yet be evaluated as a finished product. Bullski

What Is Confirmed and What Is Still Narrative

Bullski's current presale position can be checked directly.

The official website displays Stage 3/16.

The Ethereum token supply is published at 120 billion $BULLSKI.

Forty percent is allocated to the presale.

The project uses a 16-stage sale.

And Bullski's white paper publicly documents the storyline attached to each of those stages. Bullski

The historical bear descriptions, however, should be understood for what they are.

They are Bullski's creative interpretation of events from cryptocurrency history.

The labels such as "Frost Bear," "Systemic Bear" and "Deceptive Bear" are part of the project's fictional universe rather than standardized classifications used by financial historians.

That separation allows the story to be enjoyed as branding without confusing it with an objective historical taxonomy.

What Happens Next

Bullski's next major presale transition will also be the first moment when its historical bear narrative becomes active.

Completing Stage 3 would move the project from "Found in the Ice" into Stage 4 and "The First Bear."

From there, every subsequent stage is already mapped to another chapter in the project's crypto-history descent. Bullski

That gives Bullski 13 consecutive narrative milestones still ahead if the presale progresses through all 16 stages.

At the same time, development of the ski game provides a potential destination for the character after the presale story ends.

For Bullski, the larger experiment is therefore becoming clear.

The project is not only asking whether a meme coin can build a community around a token.

It is testing whether a token presale itself can become part of a larger character-driven story, and whether that story can later continue through gaming and other products.

For now, Bullski remains at Stage 3.

The hard drive has been found.

The bears come next.

About Bullski

Bullski ($BULLSKI) is a community-driven ERC-20 meme coin built on Ethereum with a fixed total supply of 120 billion tokens.

The project operates a 16-stage presale in which each stage combines predetermined token pricing with a chapter in the Bullski mountain narrative.

Its ecosystem includes staking, referral incentives, planned locked liquidity, token burns, community initiatives and a free-to-play downhill ski game currently under development.

Bullski's smart contract has been reviewed by SolidProof and the project's team has completed KYC verification through the security provider. SolidProof TrustNet

BULLISH BY DEFAULT.

For More Information

Official Bullski Website
Bullski White Paper and 16-Stage Story
Bullski Blog
Telegram: t.me/BullskiCoinOfficial
X: @bullskicoin