Labubu Meme Coin Illustrates Brand Integration with Blockchain, Yet Will the Token Gain Popularity?

From New York to Paris, the trendiest fashion accessory currently making waves is an “elvish creature” characterized by large eyes and a somewhat playful expression.

Referred to as a “Labubu,” this toy, marketed by the Chinese firm Pop Mart, can be spotted hanging from lavish Hermès and Miu Miu handbags. Labubus are more than mere toys; they have evolved into symbols for socialites and fashion enthusiasts, with toy collectors feeling fortunate to possess a Labubu.

Labubu lafufu štagod pic.twitter.com/u9hr1p6NQk

— say my name (@femivv) June 2, 2025

What Is a Labubu?

To provide context, Labubu is identified as a female and belongs to a broader category known as “The Monsters,” conceived by Hong Kong artist and author Kasing Lung. The Monsters first appeared in a trilogy of picture books inspired by Nordic mythology in 2015. In 2019, Pop Mart transformed these beings into viral vinyl collectibles.

Initially, Labubus did not attract significant attention, but their popularity surged when Thai rapper Lisa from BLACKPINK expressed her admiration for the character in interviews and on her social media earlier this year.

“When Blackpink #LISA posted this, the whole internet went crazy, Labubu is a @POPMARTGlobal’s character and it’s always been popular but once #LISA posted it IT BECAME AN EXTRA MEGA SUPERSTAR… the latest collection that LISA posted is already SOLD OUT in KOREA…” pic.twitter.com/l8tCPw88JW

— LALISA’s Tiktok Updates (@Lalisa_Tiktok) May 23, 2024

Labubu Meme Coin Launch

In light of Labubu’s success, a Labubu meme coin ($LABUBU) was introduced on Solana in October 2024, coinciding with the rise of the viral toy.

A blog post from Binance highlights that the value of $LABUBU has recently surged by 40 times over the past two weeks. The post also indicates that the Labubu project has successfully raised over $42 million.

A $ALCH whale just bought $9.84K of $LABUBU at $23.97M MC https://t.co/RxCPdGsPpM

— Whale Watch by Moby (@whalewatchalert) June 6, 2025

Brands and Blockchain Merge Successfully

The Binance blog post further asserts that $LABUBU “may not only be a meme coin but also a prime example of how brands and blockchain can merge successfully.”

Indeed, it seems that $LABUBU may be emulating the success of Pudgy Penguins (PENGU). Pudgy Penguins originated as a blockchain-based collection of non-fungible tokens (NFTs). The success of the Pudgy Penguin NFTs led to Walmart launching a “Pudgy Toys” collection in 2,000 stores across the United States in 2023.

Rena Shah, COO of Trust Machines—a community of dedicated Bitcoin builders—stated to Cryptonews that Labubus and Pudgy Penguins are not merely accessories, but have evolved to symbolize “IP flexes.”

“And nowhere is IP culture more dynamic right now than in Web3,” Shah remarked.

Shah noted that Pudgy Penguins successfully expanded beyond the JPEG silo with toys available on Walmart shelves and a licensing model that made NFTs feel more mainstream.

“They made IP tangible—and in doing so, they proved the internet is ready to own characters, not just consume them,” she added.

Will $LABUBU Resonate With The Crypto Community?

It remains uncertain whether the Labubu meme coin will achieve the same level of success as Pudgy Penguin NFTs did.

As per DEX Screener, the Labubu meme coin’s market cap has surged from $814,710 to $49.16 million over seven months since its launch. At the time of this writing, the token has retraced to $22.7 million.

Taylan McRae-Yu, growth marketing manager at Web3 infrastructure provider Avail, informed Cryptonews that he believes the Labubu phenomenon is a narrative that will resonate with the broader Web3 community.

“It’s culturally relevant, taps into a growing fandom, and mirrors the kind of organic, collectible-driven hype we saw in the early days of NFTs,” McRae-Yu stated.

However, he expressed skepticism regarding the likelihood of the Labubu meme coin achieving the same success as the toy.

“ABC News recently reported that the estimated market cap of Labubu toys is $34 billion, while the token sits at just around a $23 million market cap, despite being launched over eight months ago.”

Challenges With Meme Coins like $LABUBU

McRae-Yu added that most “fan tokens” tend to be short-lived and are often launched by unrelated parties attempting to capitalize on a trend.

“We’ve seen this countless times before with tokens like PEPE, Moodeng, PNUT, Chill Guy, and others—very few have had real staying power,” he remarked.

McRae-Yu further noted that DEX Screener indicates that over 29 different Labubu meme coins have been launched to date.

“I think this highlights how many individuals are eager to capitalize on viral trends by launching fan tokens. This trend will likely persist as launching tokens becomes increasingly easier and more accessible. Buyers should exercise caution,” he advised.

A Binance spokesperson also conveyed to Cryptonews that while memecoins have emerged as a significant cultural and financial phenomenon in the crypto space, establishing a truly resilient memecoin community presents substantial challenges.

For instance, they pointed out that most meme coin projects struggle with longevity. “The majority of memecoins launched in recent years have already faded into obscurity.”

Moreover, market manipulation has become a serious concern, particularly with meme coins.

“Tactics like disguised holdings, multisend distributions, and wash trading can create the illusion of liquidity, while masking concentrated control and exposing users to risk,” the spokesperson explained.

Ultimately, Binance’s spokesperson believes that the most successful memecoins will be those that combine viral narrative appeal with genuine transparency and sustainable community engagement.

“Binance believes that fostering safer, more informed markets is essential to the long-term credibility of the space—and we’re committed to supporting that through advanced research, platform safeguards, and user education.”

Why $LABUBU May Show Signs of Continued Success

Despite the challenges, the Labubu meme coin meets the criteria for being a noteworthy project.

According to Binance’s spokesperson, several factors contribute to the success of a memecoin that extend beyond mere humor or hype.

“First, fairness and transparency are critical. Memecoins that launch without private seed rounds or VC allocations tend to attract more trust and grassroots support, as they offer equal access to all participants from day one,” the spokesperson noted.

Sources indicate that $LABUBU is a community-driven meme coin.

“Second, accessibility and simplicity play a significant role. Unlike complex DeFi protocols or infrastructure tokens, memecoins typically have straightforward, meme-driven narratives that are easy for anyone to grasp—even those new to crypto. This facilitates their stories spreading rapidly through online communities and social media,” the spokesperson added.

The Labubu meme coin is likely to appeal to newcomers, given the success of the toy. Binance’s spokesperson also highlighted that the most desirable memecoins tap into cultural and emotional resonance, which seems to be the case with Labubu toys.

However, while $LABUBU appears to fulfill these criteria, Shah suggested that Labubu and other meme coins should consider transitioning to the Bitcoin blockchain to gain real traction.

“If Pudgy Penguins truly represent permanence, culture, and value, then why are they still on chains other than Bitcoin?” she questioned.

Shah further emphasized that Ordinals aren’t merely NFTs on the Bitcoin blockchain, but rather “digital artifacts inscribed directly into the most secure, most finite blockspace in the world.”

$Labubu btc pic.twitter.com/QtlB7m9Ua4

— Mayaron (@micilionus) June 6, 2025

“If there were ever a place to enshrine culturally significant IP, this is it. So if Labubu is dangling from Hermès, and Penguins are waddling through Walmart, the next flex is permanence. Not just going viral, but going eternal,” Shah concluded.

The post Labubu Meme Coin Shows Brands Merging With Blockchain, But Will The Token Catch On? appeared first on Cryptonews.