LABUBU token, a memecoin based on the Solana Block, has experienced two significant surges since its release in October 2024, attracting widespread investor attention. LABUBU continues to challenge new highs. This article will review its issuance, reasons for its rise, and how to seize similar opportunities, summarizing the experience of investing in meme tokens.
"Second Phase Large MC Memecoin"
In October 2024, LABUBU token was launched on Solana, with its IP Labubu toy introduced by POP MART, featuring a unique design with a fluffy round body, large eyes, pointed ears, and nine sharp teeth, showcasing a playful, curious, and kind personality.
After its release, Labubu token quickly became popular. On July 1, 2024, the Tourism Authority of Thailand (TAT) jointly held a "Labubu Welcome Ceremony" with POP MART, where the Labubu mascot was warmly welcomed at Bangkok Suvarnabhumi Airport and awarded the "Thailand Experience Explorer" honor. The Thai princess paired Labubu with a Hermès bag, and BLACKPINK member LISA frequently shared photos with Labubu on social media, further pushing Labubu's popularity to new heights.
On May 19, 2025, Labubu token was officially listed on BingX exchange, with deposit time at 10:00 UTC, trading time at 10:30 UTC, and withdrawal time on May 21 at 10:00 UTC. Additionally, BingX launched an airdrop activity related to Labubu, where reposting and liking could win a share of a 500 USDT reward, further enhancing community participation. That day, LABUBU's market cap exceeded $16 million, with a 24-hour increase of 147% and a 24-hour trading volume of $8.8 million.
Labubu, returning to public view, rapidly surged, with its market cap breaking through $20 million on the evening of May 22, over $30 million on the morning of the 26th, over $35 million that night, over $45 million early on the 27th, and nearly reaching $50 million, continuously setting new highs. Compared to its initial highest point of $20 million, this second explosion of LABUBU was clearly more powerful.
According to POP MART's 2024 annual report, the "THE MONSTERS" spirit group IP, including Labubu, generated revenue of 3.04 billion yuan in 2024, accounting for 23.3% of total revenue. In the total revenue of 13.038 billion yuan, overseas revenue reached 5.066 billion yuan, a year-on-year growth of 375.2%. Among this, the Southeast Asian market contributed 2.403 billion yuan, accounting for 47.4% of total overseas revenue.
POP MART's stock price also rose like its IP's popularity. When Labubu was first released in October 2024, POP MART's stock price was around 55 Hong Kong dollars, and after 8 months, it has risen to 233.2 Hong Kong dollars, an increase of 323.6%. POP MART's soaring stock price, the enthusiastic response to "THE MONSTERS" IP, and Labubu's popularity in Southeast Asia greatly boosted investors' confidence in its related MEME coins.
"Leader" DNF and LABUBU's Big Winners
According to GMGN's front-row data, the highest-earning whale made an unrealized profit of $579,200 on LABUBU, with a realized profit of $348,300. Interestingly, this whale actively participated when LABUBU was first launched, continuing to add positions even during its initial near-zero period, and started adding positions at the bottom around April 25, about a month before the news was published. Currently, the whale has not liquidated, and the holding period has lasted 235 days.
Among the front-row whales, the famous "leader" Gake, better known as "DNF", also garnered significant attention. DNF's operations were similar to the top-ranked address. In October last year, when LABUBU was first released, DNF had already traded this token. At that time, LABUBU's market cap was fluctuating around a few million dollars, with DNF concentrating on buying around $2 million market cap and selling around $6 million market cap. Subsequently, except for selling about 280,000 tokens when LABUBU's market cap rose to around $20 million in mid-November, DNF continued to hold about 26 million tokens without liquidating, remaining a "diamond hand" even when the market cap dropped to tens of thousands of dollars. On May 14, 180 days later, the DNF wallet added 38 million tokens, after which LABUBU began its crazy upward trend.
Subsequently, as LABUBU continued to rise, DNF continuously sold, liquidating by the 24th, with a total profit of $76,600 on LABUBU.
Additionally, when LABUBU first went online last year, an address starting with DBzhEX spent $72,200 to purchase 30.94 million LABUBU tokens, now worth $1.33 million (based on a market cap of $43 million). This whale is a true diamond hand who previously spent $527,000 to buy 19.14 million LUCE tokens, which reached a maximum value of $5.74 million but has now dropped to just $164,000, turning a $5.2 million unrealized gain into a $363,000 loss.
Besides investors who participated in the first round last year, there were also whales who earned profits by participating in the second round. The third-ranked address with the fund source "Wang Xiaoer" is such an example. This address bought 64 million tokens in two batches on the morning of May 19, subsequently selling in multiple batches, and has already realized a profit of $127,000, with a profit rate of 911%.
Looking back at the success of the Labubu token, the most intuitive reason is its IP foundation and the viral effect of community communication. Labubu is a popular toy IP under POP MART, which has been officially certified by the Tourism Authority of Thailand and has been favored and promoted by celebrities multiple times, further enhancing Labubu's global recognition and sparking global pursuit. The official promotion and airdrop opportunities were also uniquely designed, requiring participants to share cute Labubu photos and repost, and have friends like and reshare the post, which also accelerated Labubu's cross-circle promotion.
The success of meme is often closely linked to popular culture, such as being related to popular toys, celebrities, movies, or social media trends. Investors should closely follow cultural phenomena and choose IPs with potential for cultural breakthrough, especially those with physical products that have validated their popularity. However, the meme coin market is highly speculative, with dramatic price fluctuations, and investors need to be wary of risks. At the time point of May 27, 2025, the end of the airdrop activity may further impact the price, and investors are advised to observe price trends and proceed with caution.
