An unofficial Solana meme coin dedicated to the Labubu toy range has skyrocketed 5,934% over the past two weeks to a $49.16 million market cap. The meme coin gained momentum after the dolls went mega viral.
So viral, in fact, that stores have had to pull them from shelves to prevent customers fighting over the cute collectibles.
The Labubu (LABUBU) meme coin was created via Pump.fun in October 2024, initially spiking to a $10 million market cap before retracing, bouncing back to $18.5 million, and subsequently falling below $1 million—where it remained for months.
According to DEX Screener, the LABUBU meme coin has shot from a market cap of $814,710 to $49.16 million—over seven months after the token first launched. At the time of writing, the token has since retraced 15% to $41.55 million.
Pop Mart, the retailer for Labubu dolls, told BBC News on Friday that it was halting the sale of the monster bag charms in its stores to “prevent any potential safety issues.” This follows chaos ensuing in a number of stores across the UK. Customers camped for hours outside of stores before fighting staff members and other customers to get their hands on the toys.
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.
