#LABUBU What is the tragic fate behind?

LABUBU has been online for less than a month, and its market value has already dropped to 28 million, plummeting over 20% within 24 hours.

So the question arises:

Isn't Labubu popular worldwide? Why is its coin not performing well?

We need to clarify two things first.

🧸 First, Labubu itself is indeed impressive!

It is an IP created by Pop Mart and artist Long Jiasheng, selling explosively in over 30 countries worldwide with a strategy of "blind boxes + emotions + culture," selling 6.3 billion RMB in the first half of 2024 for one series, making founder Wang Ning the richest person in Henan.

💰 Second, why has the LABUBU coin cooled down?

To put it simply, it is just a Meme coin riding on the hype; it lacks technology, ecology, and practical scenarios, relying entirely on speculation to support it. Once the hype fades, a crash is inevitable.

In fact, there have been warnings before. Fat Penguin, Bored Ape, CryptoPunks—these former "top IPs" all ventured into NFTs, Meme coins, and even toys, but ultimately could not escape one outcome—skyrocketing and plummeting, a flash in the pan.

📉 So don't be misled by LABUBU being the "name coin" of Labubu; it is essentially just another speculative product of IP trading.

Toys can be popular, but coins don't necessarily survive.

Labubu is still in line, while LABUBU is on the path to "zeroing out". Do you still dare to chase it?