🧸 Labubu Goes On-Chain: How a Vinyl Toy Became a 42M Meme Coin

From dangling off a Hermès bag to moonwalking up Solana charts, Labubu is no longer just a designer toy. It’s now a blockchain meme coin movement, blending K-pop, streetwear, and crypto culture into one chaotic flex.

But can a fashion-forward toy really survive as a coin? Let’s unpack the Labubu-verse.

👁️ Who—or What—Is Labubu?

Originally born in the mind of Hong Kong artist Kasing Lung, Labubu debuted as one of “The Monsters” in a myth-inspired picture book series. Fast forward: Chinese collectible giant Pop Mart turned the creature into a designer toy line.

The real pop came in 2024, when BLACKPINK's Lisa flaunted a Labubu charm on her luxury bags. Overnight? Labubu morphed from niche vinyl to a must-have fashion flex—spotted on Hermès, Miu Miu, and every fashion-forward WeChat thread.

💰 Enter LABUBU: The Meme Coin Launch

In October 2024, Labubu hit crypto’s main stage: a meme coin on Solana. The token, LABUBU, exploded 40x in value in just two weeks and raised a wild 42 million.

🧼 Clean launch? Check. 📱 Memeable brand? Check. 🐧 Pudgy Penguins-style crossover energy? Double check.

Binance called it a case study in branding x blockchain. And they’re not wrong — LABUBU is riding the same Web3/IP wave as Pudgy Penguins, who went from JPEGs to Walmart toy aisles.

🧠 IP + Blockchain = Culture Capital

Rena Shah (Trust Machines) puts it best: tokens like LABUBU aren’t just finance — they’re culture objects. When a collectible gets immortalized on-chain, IP becomes programmable, and the community becomes co-owners.

We’re not just trading tokens — we’re trading stories.

⚠️ So, What’s the Catch?

After peaking at nearly 50M in market cap, LABUBU fell back to 22M. Why?

• 📉 Meme coin volatility
• 🧍‍♂️ 29+ Labubu copycat coins flooding the market
• 🧪 No real roadmap (yet)

Like many meme coins, it risks being hype with no heartbeat.

🚨 Meme Coin Red Flags (Straight from Binance)

• Wash trading & fake volume
• Whale wallets controlling most supply
• No utility = no community = no sustainability

If LABUBU wants to avoid rug-pull purgatory, it needs more than vibes.

🌱 Why LABUBU Still Has a Shot

Unlike VC-backed pump coins, LABUBU had a fair launch, no insider advantage, and organic fandom from toy lovers and K-pop stans alike. It’s simple, sharable, and weirdly lovable — the perfect meme storm.

🟧 Is Bitcoin the Endgame?

Some crypto thinkers argue the real move is to inscribe Labubu on Bitcoin using Ordinals. That means turning Labubu into a permanent digital collectible on the most secure chain around.

From vinyl shelf to NFT to Ordinal? That’s the full cultural evolution.

⚡ TL;DR

• 🧸 Labubu started as a designer toy from Hong Kong, hyped by BLACKPINK’s Lisa
• 💸 It became a meme coin (LABUBU) on Solana in 2024 and raised 42M
• 📉 Market cap dropped to 22M, but it still has strong branding and a fair launch
• 🚨 Risks? Meme coin fatigue, copycats, and no clear roadmap
• 🔮 Future? Labubu might go full Bitcoin via Ordinals to gain long-term cultural status

Labubu is more than a toy or a token — it’s a case study in what happens when memes, fashion, and crypto collide.