LABUBU has auctioned over a million online, and in the cryptocurrency world, its market value has surged from hundreds to thousands.

The LABUBU token experienced a sharp rise after its launch (retail investors had no chips), followed by a significant drop. With LABUBU's recent high-priced auctions in the millions, the market has rebounded to around a price of 0.05.

Why do I want to write about this? Because the LABUBU coin is not officially issued by Pop Mart, but rather launched by a group of community-driven developers. The LABUBU coin essentially capitalizes on market sentiment, leveraging LABUBU's popularity and strong communication within the trendy toy community to attract funding and increase hype.

The hype surrounding this type of coin comes quickly and fades just as fast. Once market sentiment reverses, the price can collapse instantly.

In fact, this type of token is what is commonly known as meme coins, such as the "Trump Coin" and "Melania Coin" launched by the Trump couple, as well as PEPE, Naruto, and the previously popular Dogecoin, all belonging to the same category.

Meme coins are primarily created around popular cultural phenomena, memes, or humorous elements, with their value heavily relying on attracting the attention and interest of investors. Of course, this type of coin depends entirely on the attention and interest of investors, and it can't be said that there are no opportunities to make money. For someone of Trump's status, the value doesn't depend on whether this token has intrinsic worth, but rather on the character's statements and stance being the value. However, for the LABUBU issuer, which is not a principal, it is still wise to be cautious.