Not only trendy games, but also currency, and even the new king of MEME: Labubu has successfully entered the United States, and the same named token LABUBU has once again skyrocketed. The Nordic elf Labubu swept the trend circle, from Thai celebrities and socialites to Rihanna at Los Angeles airport, London trendsetters, and New York fashion players, queuing up all night just to grab one Labubu. The third generation "Frontline High Energy" series newly released by Pop Mart has been a global bestseller, reaching the top of the US App Store shopping list at one point. The highest premium on second-hand platforms is dozens of times, earning it the nickname "trendy Bitcoin". This cultural momentum has also ignited the cryptocurrency market simultaneously. The market value of the eponymous MEME coin LABUBU recently soared to $18 million, with a daily transaction volume of $9.5 million. Although it is not an official coin, it once surged to a market value of $20 million during the MEME craze in 2024, especially causing phenomenal popularity in Thailand. Nowadays, Labubu has surpassed established IPs such as PEPE and DOGE in popularity. According to Google Trends, its search volume is globally leading and it is known as the "social currency of Generation Z. Some people exchange hidden items for iPhones, Herm è s bags, and even music festival tickets, truly staging a "trendy play as an asset". The global popularity path of Labubu is surprisingly similar to the logic of MEME coin: relying on emotional value, social communication, and identity fission, it has become a triple engine connecting culture, capital, and new generation aesthetics. The next stop may not be a doll or a coin, but a cultural super symbol. LABUBU ， Will it be the next PEPE?