Solana Labubu Meme Coin Shoots to $49 Million After Viral Toy Sales Halted
Summary
Labubu dolls have been removed from shelves by retailer Pop Mart due to safety concerns after chaotic scenes in stores, where customers fought over the collectibles. The dolls, a blend of bunny and monster designs sold in blind boxes, gained immense popularity, especially after celebrity endorsements. An unofficial Labubu meme coin has surged 5,934% in value over two weeks, reaching a market cap of $49.16 million. Initially launched in October 2024, the token experienced fluctuating success before its recent spike, coinciding with the dolls' viral trend. As the dolls are unavailable, collectors are increasingly investing in the meme coin to satisfy their interest in Labubu.
