How outsiders view the chaotic meme phenomenon in the cryptocurrency circle.
First Financial published a warning about the risks of LABUBU virtual currency speculation. This coin quietly went online on exchanges, leveraging the popularity of trendy toys, with its price soaring initially before plummeting.
LABUBU is not officially issued by Pop Mart; it was launched by community developers.
Industry insiders point out that this is typical speculative behavior in the cryptocurrency space, with enormous price fluctuations exposing extremely high risks. Most projects are worthless and essentially amount to fraud and pyramid schemes.
Investors should remain highly vigilant, steer clear of such illegal speculation, and avoid financial losses