Labubu dolls are so popular that Pop Mart stores have stopped selling them, sending the memecoin soaring. An unofficial memecoin on Solana dedicated to the Labubu toy line has soared 5,934% in the last two weeks to a market cap of $49.16 million. The toys have become so popular that stores have had to pull them from shelves to prevent shoppers from fighting over the collectibles.
Labubu Memecoin (LABUBU) was created via Pump.fun in October 2024, initially jumping to a market cap of $10 million before falling back, then rising to $18.5 million and falling below $1 million, a mark the coin has remained at for several months. According to DEX Screener, the LABUBU meme coin has skyrocketed from a market cap of $814,710 to $49.16 million in just over seven months since the token was first launched. At the time of writing, the token is down 15% and has a market cap of $41.55 million.
Pop Mart, a retailer of Labubu dolls, told BBC News on Friday that it was halting sales of the toys in its stores to “prevent any potential safety issues.” This comes after chaos erupted at a number of stores across the UK, with shoppers camping out for hours outside stores, then fighting with staff and other customers to get their hands on the toys.
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