LABUBU cross-border encryption, behind the big pump of the same name meme: IP effect + community Consensus

Original Title: "Pump Labubu Successfully 'Breaks into America', Same Name MEME Coin LABUBU is Once Again Being Speculated"

Original author: Nancy, PANews

A sharp-eared, tusked, and mischievously charming Nordic forest sprite Labubu is sweeping the globe at an astonishing speed, becoming a fashion item and social currency in the eyes of Generation Z, and even an alternative financial tool. Recently, Labubu's third-generation PVC plush series has made a strong debut, triggering a buying frenzy as soon as it went online. From instant sell-outs on domestic e-commerce platforms to all-night queues at overseas flagship stores, from being featured in the C position of trendy street photography to the flashy displays on social media, Labubu is evolving into a cultural meme that spreads rapidly across borders.

Behind this global trend is not only a precise hit on the deep desire of young people for personal expression and emotional release, but it has also become an alternative asset that capital markets are competing to pay attention to. It is not just traditional collectors flocking to it, but even the crypto world is buzzing with Labubu.

surged dozens of times in a week, the LABUBU that became popular in Thailand returns to a market value of ten million dollars.

Recently, the MEME coin $LABUBU has surged in popularity due to the launch of a new series of products, becoming the focus of market attention once again. Notable crypto KOL Ansem and other KOLs have tweeted with the Labubu image, triggering a strong resonance within the community.

According to GMGN data, as of the time of writing, the market capitalization of $LABUBU has soared from hundreds of thousands of dollars to $18 million in the past week, increasing several times, with a trading volume of $9.5 million in just the last 24 hours. Holderscan data shows that since May 14, the number of $LABUBU holding addresses has significantly increased, indicating that user participation and market enthusiasm are continuing to heat up. In fact, this is not the first time $LABUBU has caused a stir in the market. Back in November 2024, during the explosion of the MEME coin sector, the market capitalization of $LABUBU had surpassed $20 million, and although it is not an officially released MEME coin, it still became one of the main IP projects that were hotly speculated at that time. The Thai market is an important traffic engine for this round of market activity.

At that time, Labubu had attracted phenomenal attention in Thailand, with its image frequently appearing on the streets of Bangkok, becoming a representative symbol of trend culture. From celebrities and famous figures, such as Blackpink member Lisa who once shared a photo with Labubu on Instagram, to Thai Princess Sirivannavari who used Labubu as her daily handbag "bag buddy", and even to ordinary young people wearing Labubu apparel, and even using its patterns for tattoo designs. With such high popularity, Pop Mart's Labubu-related products in Thailand were once in short supply, and the heat even drew the attention of the Tourism Authority of Thailand, which granted Labubu the title of "Magical Thailand Experience Officer" and held a grand welcome ceremony, with the Minister of Tourism and Sports personally attending to show support.

According to the mid-year financial report released by Pop Mart, its overseas revenue reached 1.35 billion yuan, a year-on-year increase of 259.6%. Among them, the Southeast Asian market contributed revenue of 560 million yuan, accounting for over 40% of total overseas revenue. Labubu's strong performance in Southeast Asia has greatly boosted investors' confidence in its related MEME coin. At the same time, another local Thai IP, MOODENG (Little Hippo), has also become popular globally and has spawned a MEME coin of the same name, with its market value being hyped to hundreds of millions of dollars, attracting market attention to Thai IP-type assets. Recently, MOODENG has made a strong rebound, further boosting market interest in Labubu, which may also become an important spillover effect for the $LABUBU market revival.

Currently, Labubu's global popularity continues to rise. According to Google Trends, in the past 30 days, Labubu's search popularity worldwide has far exceeded that of other MEME-related IPs such as MOODENG, PEPE, DOGE, and Chillguy. This indicates that Labubu's brand influence and market attention are rapidly increasing globally, far surpassing other similar MEME projects.

The rise of the cultural economy behind Generation Z, from trendy toys to social currency.

The goal of "creating another Bubble Mart overseas" is being gradually realized by Labubu's astonishing breakout speed. From American pop diva Rihanna being photographed at Los Angeles airport with a pink Labubu hanging from her bag, to seasoned Hermès player Bryanboy also attaching a Labubu doll to his rare platinum bag... Labubu is humorously referred to by netizens as having "succeeded in breaking into the U.S. market". Behind this global cultural phenomenon, Labubu has quietly completed a cultural migration from the trendy toy circle to the mainstream global fashion scene.

Driven by the celebrity effect, Labubu has quickly swept the globe. Just at the end of last month, Pop Mart launched the third generation of Labubu PVC plush products, the "High Energy Ahead" series, worldwide, sparking a new wave of buying frenzy and causing significant premium phenomena in multiple markets. In addition to the fervent support from domestic fans, fans queued overnight in front of Pop Mart stores in Chicago, Los Angeles, London, Milan, New Zealand, and Harajuku, Tokyo, just to purchase their desired Labubu, becoming a remarkable scene in contemporary global trend culture.

Not only is it booming offline, but online sales are also unstoppable. The Pop Mart App has topped the US App Store shopping chart and surged 114 places to fourth on the free chart, demonstrating its massive appeal in the North American market. On second-hand trading platforms, the premium for the "High Energy Ahead" series Labubu is particularly astonishing—blind boxes that originally cost only 99 yuan have generally increased in price by 10%-200% for the regular versions, while the hidden versions have even reached dozens of times their original price, making them the gold and bitcoin of the trendy toy world, suddenly becoming a "wealth management tool" in the eyes of players.

On social platforms like TikTok and Instagram, Labubu has become the key to traffic. Young people are keen to post short videos such as "blind box unboxing," "fashion matching with Labubu," and "doll wall displays," even setting up dedicated content accounts to quickly gather millions of followers, with the topic's popularity and attention continuously rising. This viral transmission path not only amplifies Labubu's social influence but also constitutes the core lever of Pop Mart's content and community operations.

What is even more noteworthy is that, unlike previous潮玩 which were mainly seen as collectibles or hobbies, Labubu has now ascended to become the "universal currency" in the social scenes of young people around the world. At the midnight market and潮流 gatherings in Bangkok, players exchanged hidden Labubu for luxury handbags and concert tickets; in Harrods, London, a collector swapped a second-hand Hermès Kelly bag for rare Labubu characters; at the Coachella music festival in Los Angeles, fans traded limited edition Labubu for festival passes; during the previous潮流 exhibition in Shanghai, there was even a player who exchanged three iPhone 14 Pro for a hidden Labubu... This phenomenon of "潮玩 as currency" not only signifies that Labubu is a form of social capital, but also becomes a medium symbol of identity recognition and aesthetic resonance among young people.

Today, Labubu has gradually become a global IP with full-link business capabilities, which has also leveraged the flywheel effect of Pop Mart's business logic. In 2024, Labubu's THE MONSTERS series will contribute 3.04 billion yuan in revenue to Bubble Mart, a year-on-year increase of 726.6%, accounting for nearly a quarter of the company's annual revenue. At the same time, in terms of stock price performance, Pop Mart has hit an all-time high of HK$201.6, with a return of nearly 121.4% for the year.

In a sense, the global rise of Labubu is quite similar to the logic behind the rise of MEME coin. Both are essentially cultural phenomena driven by emotional value, rapidly breaking out through social media virality, community self-propagation, and a strong sense of identity. Whether it's young people queuing overnight to grab hidden Labubu variants, or investors flocking to buy a certain token due to a MEME image, what is reflected is the contemporary youth's desire for self-expression, community recognition, and participation in discourse. They are becoming models of the new generation's cultural economy.

Original link

：