Solana’s Labubu Meme Coin Skyrockets to $49M Amid Toy Sales Frenzy—Because Nothing Says ’Sound Investment’ Like Viral Plastic
When a meme coin tied to a discontinued toy hits a $49 million valuation, you know crypto’s either innovating or collectively losing its mind—maybe both.
Solana’s latest viral asset, Labubu, just pulled off a gravity-defying pump after manufacturer KKPlus halted sales of the cult-figure toy. Cue the classic crypto alchemy: scarcity + hype = moon mission.
From Plaything to Powerhouse
The Labubu coin—initially a joke tribute to the bug-eyed figurines—now rivals some mid-cap DeFi projects in market cap. All without utility, a roadmap, or apparently any self-awareness from buyers chasing the next Dogecoin.
Crypto’s Toy Story
Traders are treating this like GameStop 3.0, proving once again that markets will meme anything into value—even when the underlying asset is literally a plastic doll you can’t even buy anymore. Meanwhile, Bitcoin maximalists are quietly sobbing into their cold wallets.
One hedge fund analyst (who definitely didn’t ape in) quipped: ’At least NFTs had JPEGs. This is vaporware backing vaporware.’ And yet—here we are.
What are Labubu toys?
Labubu toys are half furry bunny rabbit, half wacky monster, and are sold in blind boxes. That means customers don’t know the specific version of the item they’ll get inside sealed packaging. There are multiple types of Labubu dolls, but the most popular FORM is a soft bag charm. The became popular fashion accessories after celebrities like Rihanna took to wearing them.
The character was first created in 2015 by Hong Kong-born artist Kasing Lung as part of a picture book series titled “The Monsters.” By 2019, Labubu dolls started to hit shelves. In October 2024, according to Google Trends, the toys saw a significant spike in searches—aligning with the creation of the meme coin.
But the popularity of Labubu went parabolic in 2025, following growing interest in blind boxes, a TikTok trend, and, of course, celebrity endorsements.
With Labubu dolls taken off shelves, fans are turning to collecting the meme coin to feed their hunger for the viral toy.
“I bought $LABUBU because having Labubus just wasn’t enough,” LadyETH, a pseudonymous crypto trader and Labubu fan, tweeted.
Edited by Stacy Elliott.
