LABUBU meme coin surged 12,000% in market cap before experiencing a downturn

In late 2024, the LABUBU meme coin became one of the most talked-about tokens in the crypto space after it surged over 120x following its launch. Originally linked to the viral Labubu doll, a popular collectible toy created by Hong Kong artist Kasing Lung in 2015, the token hit a market cap of nearly $15 million in March 2025. After a brief correction, it continued to rise, reaching $20 million before experiencing a prolonged downturn. Despite this, the token made a surprise comeback in early summer, reaching a market cap of almost $75 million an astounding 12,000% increase from its local bottom. Though it’s currently in a correction, LABUBU’s market cap still holds around $8–10 million, proving that community-driven meme coins can still spark significant growth despite volatility.

LABUBU’s community-driven hype

LABUBU stands out as one of the key tokens born from the growing trend of community-driven meme coins in 2025. Unlike other tokens that are often tied to viral apps or tweets, LABUBU leveraged the already established and passionate fanbase of the Labubu doll, which has enjoyed popularity in East Asia. The token’s success was fueled by its connection to a real-world toy with a dedicated following, especially in the digital realm. The fanbase’s engagement on platforms like X (formerly Twitter) and a growing number of meme coin influencers and collectors has kept the community alive despite fluctuations in the token’s value. Many holders even changed their profile pictures to the Labubu doll, a hallmark move in the world of community tokens.

From toys to tokens: The future of community tokens

LABUBU’s story is emblematic of a larger trend in 2025—the rise of community tokens, which are gaining traction not due to their technical innovation but because of their cultural relevance and fan-driven growth. Much like Pudgy Penguins (PENGU), which also tied its success to physical collectibles, LABUBU has capitalized on fandom and nostalgia rather than the usual utility-focused approach to cryptocurrencies. While the token’s development has been entirely community-driven, with no official partnership with toy maker Pop Mart, it highlights the shift in how the crypto industry can tap into pop culture and fanbase-driven success. However, like any meme coin, LABUBU faces risks; once the initial hype fades or interest wanes, these tokens often struggle to maintain their momentum.

In conclusion, the story of LABUBU is not just about a meme coin; it reflects the changing dynamics of the crypto landscape, where cultural relevance, nostalgia, and community engagement are becoming the driving forces behind digital assets.