$LABUBU Memecoin Surges Past $30 Million, Fueled by Pop Mart’s Labubu Mania

23 May, the Solana-based memecoin $LABUBU, inspired by Pop Mart’s wildly popular IP Labubu, has smashed through a $30 million market capitalization, marking a historic high with a 140% surge in just 24 hours and a trading volume of $9.5 million. This milestone underscores the growing intersection of pop culture and cryptocurrency, with Labubu’s global fandom propelling $LABUBU into the spotlight.

The Labubu Phenomenon

Labubu, a North European forest elf designed by Hong Kong artist Kasing Lung, has captivated global audiences with its “ugly-cute” aesthetic, resonating with Gen Z’s desire for individuality and emotional expression. The character, part of Pop Mart’s THE MONSTERS series, has become a cultural icon, named Thailand’s “Amazing Thailand Experience Explorer” with a grand welcome ceremony in Bangkok.

Its global appeal is amplified by endorsements from celebrities like BLACKPINK’s Lisa, Rihanna, and Thailand’s Princess Sirivannavari, making Labubu a “social currency” where fans trade rare items for luxury goods or concert tickets.

Pop Mart’s Market Power

Behind $LABUBU’s success lies Pop Mart, the Hong Kong-based company that turned Labubu into a global phenomenon. In 2024, Pop Mart reported 30.4 billion RMB ($4.26 billion USD) in revenue from THE MONSTERS series, a staggering 726.6% year-over-year increase, with Labubu as its top-earning IP.

Overseas revenue soared 259.6% to 13.5 billion RMB ($1.89 billion USD), driven by markets like Thailand, the U.S., and the UK, where Pop Mart’s app topped the U.S. App Store’s shopping category.

The company’s limited-edition strategy — exemplified by a Labubu & Vans figure that retailed for $84 but resold for over $2,000 on eBay (a more than 2,000% markup) — has sparked intense enthusiasm among both consumers and investors.

Third-Generation Plush Series Sparks Market Surge

The release of Pop Mart’s third-generation Labubu plush series in April 2025 was a game-changer, selling out instantly worldwide and driving $LABUBU’s market cap from $11 million to $18 million in a week, eventually peaking at $30 million.

Pop Mart’s stock price surged over 13% to HK$195 ($24,88 USD) on April 28, reflecting investor confidence in the brand’s global traction. The plush series’ influence was particularly strong in Thailand, where Labubu’s ambassador status and cultural resonance drove massive demand, as well as in the U.S. and UK, where Pop Mart’s app dominated download charts. Celebrity endorsements, alongside high-profile collaborations like Labubu & Vans, amplified the series’ appeal, with fans and crypto investors alike fueling a speculative frenzy. Crypto influencer Ansem and others on X hailed $LABUBU’s potential, with some predicting a “100x” return.

Where Pop Icons Meet Tokenomics

$LABUBU’s ascent to 30 million market cap signals a new frontier where pop culture icons and cryptocurrency converge. Pop Mart’s Labubu, with its global fandom and strategic marketing, has turned a quirky toy into a financial phenomenon, capturing the imagination of investors and fans alike.

Nonetheless, as a memecoin, $LABUBU remains subject to extreme market swings—reminding investors to balance excitement with caution.