LABUBU Token: A Phenomenon in the Solana Ecosystem

In the dynamic world of blockchain and digital assets, LABUBU Token has emerged as a standout contender in the Solana ecosystem. Since its inception in October 2024, this token has not only captured the market’s attention but has also demonstrated remarkable resilience and growth. LABUBU’s journey has been nothing short of extraordinary, with its market cap soaring to unprecedented heights and its influence spreading across global investment circles. This article explores the origins of LABUBU Token, the factors driving its explosive rise, and offers valuable insights for investors looking to identify similar opportunities in the ever-evolving landscape of Meme tokens.

LABUBU Token made its debut on the Solana blockchain in October 2024, backed by the iconic IP character Labubu, meticulously crafted by the renowned toy brand POP MART. Labubu’s charm lies in its unique design—soft, round, with expressive eyes, sharp ears, and a playful yet endearing personality. This carefully crafted image was a pivotal factor in Labubu’s rapid ascent to fame. The character’s journey to global recognition was strategically planned, with key milestones that laid the foundation for its widespread appeal.

On July 1, 2024, the Tourism Authority of Thailand (TAT) partnered with POP MART to host a grand “Labubu Welcome Ceremony.” The event featured a spectacular reception at Suvarnabhumi Airport, where Labubu was honored as the “Thai Experience Explorer,” marking the beginning of its international journey. This collaboration not only highlighted Labubu’s appeal in Thailand but also set the stage for its global expansion.

The involvement of high-profile figures further amplified Labubu’s popularity. The Thai Princess was seen with a Labubu-themed Hermès bag, while BLACKPINK member Lisa frequently shared Labubu selfies on social media. These endorsements propelled Labubu to unprecedented levels of fame, turning it into a global sensation.

May 19, 2025, marked a significant milestone for Labubu Token as it officially listed on BingX Exchange. The listing process was meticulously timed, with deposits opening at 10:00 UTC, trading commencing at 10:30 UTC, and withdrawals scheduled for 10:00 UTC on May 21. To celebrate this moment, BingX launched a Labubu-themed airdrop, rewarding users who shared and liked related tweets with a chance to win up to 500 USDT. This innovative approach significantly boosted community engagement and enthusiasm.

On the day of the listing, LABUBU’s market capitalization surged to over 16 million USD, with a staggering 147% 24-hour increase and trading volume reaching 8.8 million USD. These numbers underscored the immense market appeal of Labubu Token. The upward trajectory continued relentlessly, with the market cap shattering records repeatedly. By the evening of May 22, it had surpassed 20 million USD. The next morning, it強勢 broke through the 30 million USD mark, climbing further to 35 million USD that same night. By the morning of May 27, the market cap had hit 45 million USD, with its peak value even approaching 50 million USD, showcasing a surge far more intense than its initial launch.

POP MART’s 2024 annual report highlights the impressive performance of the “THE MONSTERS” IP group, to which Labubu belongs. The group generated 3.04 billion RMB in revenue, accounting for 23.3% of the company’s total earnings. Overseas markets contributed 5.066 billion RMB, a staggering 375.2% year-on-year growth, with Southeast Asia alone contributing 2.403 billion RMB (47.4%). POP MART’s stock price has also seen remarkable growth, climbing from 55 HKD at the time of Labubu’s release to 233.2 HKD, a 323.6% increase. These figures have undoubtedly strengthened investor confidence, especially in the potential of related Meme tokens.

In the world of LABUBU investing, several standout winners have emerged. According to GMGN front-running data, the whale with the highest returns on LABUBU saw a profit of 579,200 USD, with 348,300 USD already realized. This investor’s strategy was particularly astute: they actively participated from the token’s inception, held firm even when the first-round price nearly dropped to zero, and continued to accumulate at the bottom about a month before the news broke (April 25). To date, the whale remains unliquidated, with a holding period of 235 days, showcasing exceptional patience and foresight.

Another notable whale, known as “Gake” but more widely recognized as “DNF,” also executed impressive moves in LABUBU. When the token launched in October last year, DNF immediately engaged in buying and selling, entering positions when the market cap hovered around 2 million USD and exiting at around 6 million USD. Despite the market cap later plummeting to tens of thousands of USD, DNF remained steadfast, holding approximately 26 million LABUBU tokens. On May 14, DNF’s wallet suddenly increased by 38 million tokens, coinciding with LABUBU’s explosive rally. DNF then sold the tokens steadily, eventually liquidating by May 24, realizing a profit of 76,600 USD.

Beyond long-term holders, another whale reaped extraordinary returns in LABUBU. An address starting with DBzhEX purchased 30.94 million tokens for 72,200 USD at launch, now valued at 1.33 million USD (based on a market cap of 43 million USD). This whale previously invested 527,000 USD in 19.14 million LUCE tokens, which peaked at 5.74 million USD but has now fallen to 164,000 USD, converting a 5.2 million USD profit into a 363,000 USD loss, highlighting the extreme volatility of Meme token markets.

Additionally, a whale who participated only in the second round of purchases reaped substantial rewards. The third-ranked whale, “Wang Xia Er,” exemplifies this, buying 64 million tokens in two transactions on May 19 morning and later selling them in multiple batches. They have realized a profit of 127,000 USD, with a return rate of 911%, demonstrating a keen ability to time the market.

Looking back at Labubu Token’s success, the most apparent reasons lie in its IP foundation and viral community engagement. As POP MART’s flagship IP, Labubu not only received official recognition from the Tourism Authority of Thailand but was also embraced and promoted by celebrities, sparking a global frenzy. The official promotion and airdrop participation mechanism were particularly ingenious, encouraging users to post cute Labubu photos, retweet, and invite friends to like and share, dramatically accelerating its viral reach.

The success of Meme tokens is often intertwined with pop culture—whether trending toys, celebrities, movies, or social media phenomena, any viral element can ignite market interest. Investors should closely monitor cultural trends, selecting IPs with the potential for viral expansion, especially those already validated by physical products. However, the highly speculative and volatile nature of Meme token markets demands constant vigilance and rational risk assessment.

As of May 27, 2025, Labubu’s airdrop activity is nearing its end, which may further impact its price. Investors are advised to stay vigilant, monitor market dynamics, and exercise caution to mitigate potential risks.

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