LAUNCHCOIN Surges 348% in 24 Hours, Early Investors See 515x Returns

A trader has achieved a remarkable feat by transforming an initial investment of $9,000 into $5 million in just one month. This extraordinary return was made possible through an investment in LAUNCHCOIN, a cryptocurrency that has seen a meteoric rise in value. LAUNCHCOIN, formerly known as PASTERNAK, has skyrocketed by over 348% in the past 24 hours, pushing its market capitalization past $230 million. The price chart of LAUNCHCOIN reveals a nearly vertical growth trajectory over the past seven days, reaching $0.241.

LAUNCHCOIN is the token associated with Ben Pasternak, the founder of Clout—a SocialFi platform built on Web3 technology. The rebranding of PASTERNAK to LAUNCHCOIN on Believe aligns the token name with the project's market positioning. The combination of Web3 technology and the SocialFi model has created a unique appeal for LAUNCHCOIN, particularly amid the growing interest in Solana-based projects.

The meteoric rise of LAUNCHCOIN has delivered enormous profits for early investors. According to a post on X by Lookonchain on May 14, a trader spent $9,075 to purchase 20.3 million LAUNCHCOIN tokens a month ago. That investment is now worth $4.7 million, representing a staggering 515x return. This trader isn’t the only one profiting. Other whales have also recorded impressive gains. A whale spent $91,000 to buy 20.31 million LAUNCHCOIN tokens a month ago, and their unrealized profit now exceeds $3.4 million. Meanwhile, another whale invested $367,000 to acquire 17.66 million LAUNCHCOIN tokens three months ago when the price was nearly zero. That investment has now yielded an unrealized profit of over $2.3 million.

These figures highlight that LAUNCHCOIN is not just a price surge phenomenon but also a significant profit opportunity for early investors. However, such rapid growth raises questions about sustainability and potential risks, especially in a volatile market like cryptocurrency. Historically, celebrity-backed coins have been highly volatile and susceptible to price manipulation through “pump-and-dump” schemes. The case of MIKAMI serves as a notable example. Data from GMGN reveals that LAUNCHCOIN’s liquidity remains low, with only $4.2 million in the liquidity pool, while its market capitalization has soared past $230 million. This discrepancy could make it challenging for investors to sell large tokens, leading to potential slippage risks. A 348% increase in 24 hours signals a strong pump, but it could also set the stage for a significant correction. Therefore, investors should conduct thorough research and evaluate the project’s transparency and liquidity before diving in. Investors should also learn appropriate investment strategies to optimize future profits.