Pop Mart Stock Drops 5.15% as Meme Coin LABUBU Plummets 20.4%

On June 20, the Hong Kong stock market and the meme coin market experienced a synchronized decline. Pop Mart, listed on the Hong Kong Stock Exchange under the ticker 9992, saw its stock price drop by 5.15%, settling at 235.8 Hong Kong dollars. This decline marks a retreat of over 16% from its historical high. Concurrently, the meme coin LABUBU, which is based on a trendy IP, witnessed its market value plummet below 28 million U.S. dollars, experiencing a 20.4% drop within a 24-hour period. The sentiment surrounding LABUBU quickly cooled off following this significant decline.

Analysts from BiyaPay suggested that this "coin-stock linked pullback" could indicate the release of short-term risks. However, for experienced traders, this situation presents a potential opportunity. Traders can capitalize on this by shorting Pop Mart's Hong Kong stocks or positioning themselves in the coin market for a potential reversal. Both strategies can be executed using USDT, providing flexibility in trading.

BiyaPay offers a platform for traders to seize opportunities brought about by market fluctuations. The platform supports quick participation in Hong Kong and U.S. stock trading using USDT, allowing for shorting without the need to open an offshore account. Additionally, BiyaPay supports the exchange and trading of over 200 cryptocurrencies, including BTC and ETH, with zero commission on both spot and contract orders. The platform also facilitates the exchange of USDT to various fiat currencies, including USD, HKD, SGD, EUR, and over 30 others, with fast international remittances and zero withdrawal freeze.

When market conditions fluctuate, BiyaPay provides traders with the tools to short with USDT, secure withdrawals, and make investments, all within a single platform. This integrated approach allows traders to navigate market volatility with greater ease and efficiency.