While the story itself might be inflated, it still shows that a bubble doesn't have to be at the start of the market.

And the South Sea company collapse far beyond its founding _definitely_ had ramifications.

I don't know if you read that link or have read elsewhere on the topic but modern economists argue the tulip mania thing wasn't even a bubble and if it was, it was far smaller than you probably assume. Even the wikipedia page covers these topics quite nicely.