LABUBU Coin has recently staged another 'roller coaster' trend: riding the wave of trendy toy auctions, the price skyrocketed from hundreds to thousands of dollars in market value, and before retail investors could react, the whales had already completed their chip harvesting. Subsequently, the coin price crashed, but recently, with news of auction sales hitting millions, the price has rebounded to around 0.05 yuan.
But I want to pour a bucket of cold water—this surge in price is essentially a carefully designed 'emotional arbitrage' game by capital. LABUBU Coin is not officially issued by Pop Mart, but rather a 'knockoff meme coin' created by a group of anonymous developers capitalizing on the hype. Their strategy is simple: first, attract attention using the trendy toy IP's traffic, then package it with the pretense of 'community-driven' development, and finally, manipulate the coin price to harvest retail investors.
The myth of getting rich quickly with meme coins is essentially a gamble in the 'attention economy.' Coins like those issued by the Trump couple, PEPE frog, Naruto-themed coins, and even last year's Dogecoin all follow this pattern: quickly gaining traction through popular culture references or celebrity effects, generating FOMO emotions through social media to attract retail investors. These coins lack real value support and rely solely on market sentiment and capital; once the hype fades, the price will plummet dramatically.
The case of LABUBU Coin is even more typical: the project team is anonymous, the code is not open-sourced, and the exchange holdings are highly concentrated. Data shows that the top ten addresses control over 85% of the chips, with a 24-hour turnover rate exceeding 400%, which clearly indicates a 'passing the parcel' game orchestrated by the whales. When the auction hype dissipates, retail investors will realize that they are the ones left holding the bag.
Meme coins are not unplayable, but one must have a 'gambler's awareness.' IPs like Trump, which come with built-in traffic, can indeed support coin prices through personal influence, but 'copycat' coins like LABUBU come with far greater risks than opportunities. Remember: in the crypto world, every 'hundred-fold myth' you see is a survivor's bias. When the tide goes out, 99% of meme coins will go to zero, and only the whales and early entrants will leave with a smile.
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