Tulip Mania was a period in the Dutch Republic during the early 17th century marked by extreme speculation on tulip bulb prices. Triggered by a miscommunication in 1634, tulips transformed from luxury items to subjects of rampant trade, exemplifying early market bubbles. Social behavior and herd mentality fueled demand, leading to exorbitant price surges until February 1637, when the market dramatically collapsed. Tulip Mania serves as an early example of speculative excess and ensuing financial panic.