LABUBU has been online for only a month, with its market value dropping to 28 million, plummeting over 20% within 24 hours.
So the question is:
Wasn't Labubu popular worldwide? Why is its token failing?
We need to first clarify two things.
🧸 First, Labubu itself is indeed great!
It is an IP created by Bubble Mart and artist Long Jiasheng, which became a hit in over 30 countries through the strategy of "blind box + emotion + culture", selling 6.3 billion yuan in just one series in the first half of 2024, making its founder Wang Ning directly the richest person in Henan.
💰 Second, why did the LABUBU token cool down?
Simply put, it's just a meme token riding on popularity, with no technology, no ecosystem, and no practical use cases, solely relying on hype. Once the heat dies down, a sharp decline is inevitable.
There are already precedents. Chubby Penguins, BAYC, CryptoPunks - these once "top IPs" tried Non-Fungible Tokens, meme tokens, and even toys, but ultimately couldn't escape the same fate - rapid rise and fall, a fleeting moment of fame.
📉 So don't be fooled, LABUBU is just another speculative product riding on an IP.
A toy can be popular, but a token may not survive.
Labubu is still in line, while LABUBU is on the path to "zero", would you still dare to chase it?
That's the end of the article! If you're feeling lost in the crypto world, consider joining me in strategizing and harvesting from market makers! You can join the community without threshold via WeChat+QQ group! 🐧：3806326575
