The Labubu cultural phenomenon sweeps the globe, becoming a trend symbol and alternative asset for Generation Z.

Labubu, a Nordic forest elf with pointed ears and fangs and a wicked smile, is taking the global market by storm at an astonishing rate, becoming a fashion item, a social symbol, and even an alternative financial tool for Gen Z. Recently, Labubu’s third-generation slush plush series was released strongly, which immediately sparked a global rush to buy. From selling out in seconds on domestic e-commerce platforms to queuing up all night in front of overseas stores, from must-haves in hipster street photography to social media swiping, Labubu has developed into a cultural symbol that transcends borders and is accelerating around the world.

This global trend not only precisely hits the inner needs of the younger generation for personal expression and emotional release, but it has also become an alternative asset that has garnered significant attention in the investment market. Not only is the traditional collectibles world chasing after it, but the cryptocurrency world has also sparked a Labubu craze.

Surging dozens of times in a week, LABUBU cryptocurrency returns to a market value of ten million dollars

Recently, with the surge in the release of new series of products, the MEME coin $LABUBU has once again become the focus of the market. A number of well-known crypto influencers posted content with the image of Labubu, which sparked strong resonance in the community.

Data shows that the market value of $LABUBU has skyrocketed from hundreds of thousands of dollars to 18 million dollars in the past week, increasing by several dozen times, with a 24-hour trading volume reaching 9.5 million dollars. Since May 14, the number of $LABUBU holding addresses has significantly increased, reflecting the continued rise in market enthusiasm and user participation.

! Labubu successfully “broke into the United States”, and the MEME coin of the same name LABUBU was fried again

This isn’t the first time $LABUBU has sparked a market boom. During the explosion of the MEME coin sector in November 2024, the market capitalization of the $LABUBU exceeded $20 million, and although it was not an officially issued token, it still became one of the most sought-after IP projects at the time. The Thai market played a key role in this round of rallies.

At the time, Labubu was a phenomenon in Thailand, and its image frequently appeared on the streets of Bangkok, becoming an iconic symbol of pop culture. From celebrities to young people, Labubu’s influence is everywhere – Blackpink member Lisa shows off a photo with Labubu on Instagram, Thai Princess Siri Fan adorns Labubu as an everyday handbag, and young people wear Labubu clothing and even tattoo it. Driven by high popularity, Labubu-related products were once in short supply, and its influence was so great that it was awarded the title of “Magical Thailand Experience Officer” by the Tourism Authority of Thailand, and a grand welcome ceremony was held, which was attended by the Minister of Tourism and Sports of Thailand.

According to the mid-2024 financial report, the overseas revenue of the relevant company reached 1.35 billion yuan, a year-on-year increase of 259.6%. Among them, the Southeast Asian market contributed 560 million yuan, accounting for more than 40% of the total overseas revenue. Labubu’s strong performance in Southeast Asia has greatly boosted investors’ confidence in its related MEME coins.

AT THE SAME TIME, ANOTHER THAI LOCAL IP MOODENG (LITTLE HIPPO) HAS ALSO BECOME POPULAR AROUND THE WORLD, AND THE MARKET VALUE OF THE DERIVED MEME COIN OF THE SAME NAME HAS BEEN SPECULATED TO HUNDREDS OF MILLIONS OF DOLLARS, DRIVING THE MARKET’S ATTENTION TO THAILAND’S IP ASSETS. The recent strong rebound of MOODENG has further increased the market’s attention to Labubu, which may be an important external factor for the recovery of $LABUBU.

At present, the global popularity of Labubu continues to rise. Google Trends data shows that in the past 30 days, Labubu’s global search popularity has far surpassed that of MEME-related IPs such as MOODENG, PEPE, DOGE, and Chillguy, indicating that its brand influence and market attention are growing rapidly, significantly ahead of other similar MEME projects.

! Labubu successfully “broke into the United States”, and the MEME coin of the same name was fried again

From Trendy Toys to Social Currency, the Cultural Economy Behind Generation Z’s Rise

The goal of “recreating a cultural phenomenon overseas” is being gradually realized by Labubu’s astonishing speed of going out of the circle.

From American pop diva Rihanna being photographed hanging a pink Labubu on her bag at the Los Angeles airport, to luxury veteran player Bryanboy hanging a Labubu doll on a rare platinum bag, Labubu has been jokingly called “a success in breaking into beauty” by netizens. Behind this global cultural export, Labubu has quietly completed the cultural migration from the trendy toy circle to the global mainstream fashion circle.

Driven by the star effect, Labubu quickly swept the world. At the end of last month, the global launch of Labubu’s third-generation slush plush product “Forward High Energy” series once again triggered a new round of panic buying frenzy, and there was a significant premium phenomenon in many markets. In addition to the enthusiasm of domestic fans, fans queued up all night in front of specialty stores in Chicago, Los Angeles, London, Milan, New Zealand and Harajuku, Tokyo, just to buy their favorite Labubu, which has become a strange sight in contemporary global trend culture.

Online sales are also gaining momentum. The app topped the App Store shopping charts in the U.S. and soared 114 spots to No. 4 on the free list, demonstrating its huge influence in the North American market. On the second-hand trading platform, the premium of the “front high energy” series Labubu is particularly amazing - the original price is only 99 yuan for the blind box, the price of ordinary models has generally increased by 10%-200%, and the premium of hidden models has even reached dozens of times, which can be called gold and bitcoin in the trendy toy industry, and has become a “financial artifact” in the eyes of players.

On social platforms like TikTok and Instagram, Labubu has become a traffic password. Young people are enthusiastic about posting short videos such as “blind box unboxing”, “fashion matching with Labubu”, and “doll wall display”. Some even set up dedicated content accounts and quickly gather millions of followers, with the topic’s popularity continuously rising. This explosive dissemination model not only expands Labubu’s social influence but also constitutes the core support for content and community operations.

What’s more noteworthy is that, unlike in the past, when trendy toys were mainly used as collectibles or hobbies, Labubu has been promoted to become the “universal currency” in the social scene of young people around the world. At Bangkok’s midnight markets and trend rallies, players exchange hidden Labubu for luxury bags and concert tickets; At Harrods in London, a collector trades a second-hand Hermès Kelly bag for a rare Labubu character; At the Coachella Music Festival in Los Angeles, fans exchanged the limited Labubu for a festival pass; During the Shanghai Trend Show, some players even exchanged three iPhone 14 Pro for a hidden Labubu. This phenomenon of “trendy toys as money” not only means that Labubu has become a kind of social capital, but also a media symbol of identity and aesthetic resonance among young people.

Today, Labubu has gradually developed into a global IP with full-link business capabilities, which has also led to a flywheel effect in business. In 2024, the THE MONSTERS series, to which Labubu belongs, generated 3.04 billion in revenue, a year-on-year increase of 726.6%, accounting for nearly a quarter of the total annual revenue. Among them, vinyl plush products have become the annual explosive products, with sales revenue of 2.83 billion yuan, and the proportion of sales has jumped from 3.2% to 21.7%, becoming the second largest category after hand-made products. The share price also hit an all-time high of HK$201.6, with a return of nearly 121.4% for the year.

To some extent, Labubu’s path to global popularity is very similar to the logic of the rise of MEME coins. Both are essentially cultural phenomena driven by emotional values, which quickly break out of the circle thanks to social media fission, community self-propagation, and a strong sense of identity. Whether it’s young people queuing up all night to grab the hidden Labubu, or investors flocking to buy a token because of a MEME picture, behind it is the desire of contemporary young people for self-expression, circle recognition and discourse participation, which is becoming a typical representative of the new generation of cultural economy.