I'm not sure if there's anyone studying the history of facial hair, but it wouldn't surprise me if there's a facial hair expert who can answer this.
*Edit: "Kinda of" is strictly a typo
That style of mustache predates bicycles, and previously had been known as "spaghetti" mustaches, due to popularity previously among italians.
The iron age celts wore facial hair that is similar, being described as drooping over the mouth, and having "spiral scrolls" at the ends.
So basically, it is an old old style, that just received different names as time went on.