Editor’s Note
This article introduces $LABUBU, a meme coin on the Solana blockchain inspired by the popular designer toy character Labubu. It highlights the cultural resonance of the IP and its evolution into a digital asset.
$LABUBU is a meme coin built on the Solana blockchain, inspired by the popular designer toy IP “Labubu”, a mischievous forest elf created by Hong Kong artist Kasing Lung and commercialized by POP MART. With its pointed ears, fanged smile, and peculiar expression, Labubu has gained a massive following among young people worldwide. It is not only a popular collectible in the designer toy scene but has also evolved into a social currency and alternative asset, transcending traditional toy classifications.
On-chain, $LABUBU was spontaneously launched by the community. Despite lacking an official license, the token quickly gained traction thanks to Labubu’s strong cultural influence and its viral appeal on social media. Since its debut in October 2024, $LABUBU has increased significantly, reaching peaks during the initial meme coin rally and the launch of Labubu’s third-generation figure in May 2025, with the latest 7-day rally exceeding a 20x increase. Its meteoric rise has been driven by an active community, celebrity endorsements (e.g., Lisa, Rihanna, the Thai princess), and an offline viral effect fueled by POP MART’s global retail distribution.
It is important to note that $LABUBU is more than a speculative token. It represents an experiment in cultural IP × Web3 asset. In regions like Thailand, Singapore, and Japan, Labubu is already seen as a symbol of fashion and identity among young people. There have even been real-world transactions involving Labubu toys being exchanged for Hermes bags in Bangkok night markets. According to POP MART, the “THE MONSTERS” series (which includes Labubu) generated over 3 billion RMB in 2024, accounting for nearly 25% of the company’s revenue. Driven by Labubu’s popularity, POP MART’s stock price increased by over 300%, demonstrating the real financial value of physical IPs. This provides $LABUBU with a solid “cultural anchor” as an on-chain asset.
Today, $LABUBU is not just a meme; it is a decentralized social experiment exploring how toys become currency and IPs become tokenized assets.
Unlike most meme coins based on fictional internet characters, $LABUBU originates from a real-world cultural icon. The character has a large global fan base and media reach, having been featured by global celebrities like Rihanna, Lisa, and Bryanboy. Even the Thai princess has included Labubu in her outfits. On platforms like TikTok and Instagram, Labubu has become a tool of expression for Generation Z and a visual social currency, fitting naturally into the profile of a viral meme.
Labubu’s parent company, POP MART, is a firm listed on the Hong Kong Stock Exchange. In 2024, its “THE MONSTERS” series generated over 3.04 billion RMB, or 23.3% of total revenue, driving a 320% increase in POP MART’s stock price. Limited edition Labubu figures sell out instantly and trade at significant premiums in secondary markets. This commercial success provides $LABUBU with tangible asset backing, making it a rare “physically-anchored meme coin”.
The price action of $LABUBU has closely followed the hype of Labubu’s physical product. The token reached a market capitalization of over $20M shortly after its launch in October 2024. In May 2025, driven by new product launches and renewed community campaigns, its market cap surged from a few million to nearly $50M in one week. Prominent whales like DNF and Gake heavily accumulated at lower levels and held their positions during the rally. Coordinated exchange listings and airdrop tasks triggered massive on-chain FOMO, resulting in a rare “second-wave explosion” for a meme coin.
Thailand was the first region where $LABUBU went viral. Labubu was well-received by the Tourism Authority of Thailand and received the title of “Thailand’s Amazing Experience Officer”. POP MART frequently sells out in the region, and celebrities like Lisa and the Thai princess continue to fuel demand. Real-life transactions (e.g., Labubu for Hermes or Coachella tickets) are common. This organic cultural fermentation has given $LABUBU strong natural virality and genuine user traction, making it one of the few meme coins with non-native cryptocurrency adoption.
Unlike short-lived meme tokens built on quick hype, $LABUBU is fueled by emotional resonance, cultural recognition, and viral spread. Users are not just buying tokens; they are buying identity, recognition, and belonging. In a market flooded with recycled meme cycles and manipulative liquidity traps, $LABUBU stands out as a model: it combines IP logic, real-world backing, and sustained heat, emerging as the most notable meme project on Solana today.