Labubu is just another moodeng, pengu, and doodle. It moves up due to the it's started with low marketcap, which means people are joining in that pump due to the hype, not interest.
This token has been exist since last year, and why is it just pumping now? it's all due to the people who getting FOMO of it on Bitget.
Believe me or not, it will be going down again in matter of time. Maybe, a month of a week.