Will Lububu Collapse Soon? First, the conclusion: TBH, based on previous experiences with NFT and shoe trading, I believe it's currently in a FOMO stage, but still far from Labubu/Popmart's peak. Is it FOMO? Yes First, news like an auction of a doll for 1 million is similar to a marketing communication trigger point. I don't believe there's no market maker from Popmart assisting in planning and amplifying the hype, with potential insiders involved in bidding and final purchase. It's like giving money to blockchain influencers to buy a specific coin - sound familiar? Today, @Super4DeFi was doubting whether Lisa's previous Labubu was sent by the company, and I told him to directly remove the word "doubt". Isn't this exactly the same routine @yugalabs used with BAYC earlier? The investment-to-output ratio is incredibly cost-effective. Second, today's financial sector and social media are dominated by Labubu and Popmart promoters. Following the rule of "selling when public sentiment is at its peak", it's definitely in the FOMO stage. Has it peaked? Maybe not yet The reason it hasn't peaked is that unlike shoe and NFT trading, this trendy toy is primarily controlled by one company, without multiple scattered interests requiring coordination, allowing near 100% market control. Controlling supply, continuously creating market hype, and raising secondary market prices - old NFT players understand how easy it is to manipulate non-order book markets (which also validates the claim that Blur killed NFT). For a continuously expanding company's market value, marketing and secondary market expenses are totally worthwhile, not to mention the politically significant "representing Chinese cultural export to the global market". While shoe and NFT trading have limited exit strategies, Labubu's exit paths are much more diverse, barely requiring direct market dumping - @thecryptoskanda's three-market theory gets another show-off moment. Even if retreating, I believe it might be a gradual, orderly withdrawal rather than a catastrophic collapse - considering how top-level decision-makers would view this rare cultural export ICON. So: If you've already profited from Popmart stocks, taking profits is fine. For those not involved early, buying a few for fun is okay, but entering now seems low-value. However, if you're considering shorting based solely on market noise and previous shoe/NFT/CS GO trading experiences, I'd caution you to be careful. Are you really prepared to short a globally significant Non-Fungible Token backed by a cash-rich company with potential national interest connections?