LAUNCHCOIN market capitalization breaks 350 million big pump 107.5%: The frenzy and secrecy of the Believe ecosystem

According to GMGN market data, the native Token of the Believe platform, LAUNCHCOIN, briefly surpassed a market capitalization of $350 million, with a price of $0.3446, and a 24-hour rise of up to 107.5%. Since the Token underwent rebranding from PASTERNAK, its synergistic development with the Believe platform has sparked market discussions.

The Surge Behind LAUNCHCOIN: The “Trust” Narrative of the Believe Ecosystem

The rise of LAUNCHCOIN is inseparable from the strategic transformation of the Believe platform. Believe was founded by 25-year-old Australian entrepreneur Ben Pasternak, originally known as Clout.me, which initially positioned itself in the “influence economy,” attempting to connect creators and investors through the concept of SocialFi. However, projects during the Clout era fell to zero due to flaws in mechanism design and a crisis of market trust. In early 2025, Ben Pasternak renamed the platform to Believe, proposing a new narrative of “from influence to trust,” emphasizing decentralized financing and community-driven Token issuance mechanisms. This transformation quickly ignited market enthusiasm.

LAUNCHCOIN experienced explosive growth after May 12, with its market capitalization soaring from $25 million to $260 million, recently surpassing $350 million. The Believe platform simplifies the token issuance process, allowing anyone to generate new coins by replying to the @launchcoin account on the X platform and specifying the token name. This low-threshold mechanism has attracted a large number of project parties and speculators, giving rise to high market capitalization Memecoins such as $GOONC, $BUDDY, and $NOODLE. Among them, $GOONC reached a peak market capitalization of $60 million, while $NOODLE, as a gaming project, also touched $20 million.

The market’s enthusiasm for LAUNCHCOIN is also attributed to the efficient support of the Solana chain. A 26-page report released by the Solana Foundation points out that Believe’s “Internet Capital Market” model is expected to disrupt traditional VC financing, allowing projects to raise funds directly from on-chain investors. This narrative aligns with the 2025 crypto market’s demand for decentralized financial innovations, making LAUNCHCOIN the new darling of the Solana ecosystem.

On-chain data reveals: the game between whales and retail investors

The surge of LAUNCHCOIN is not entirely community-driven; on-chain data reveals signs of manipulation by large whales. According to P reports, a trader bought 20.3 million LAUNCHCOIN for $9,075 a month ago, which is now worth $4.7 million, resulting in a return rate of up to 515 times. Another well-known trader, Ansem, invested $1.36 million in the past two days and has already made a profit of $578,000 as of May 15. Additionally, after a whale sold TRUMP Tokens at a loss of $446,000, they quickly invested $1.59 million to buy 9.37 million LAUNCHCOIN, demonstrating the concentrated betting of market funds on LAUNCHCOIN.

However, the enthusiasm of retail investors hides risks. X platform user @Krystal_Eth points out that the rise of LAUNCHCOIN relies on the “scraper Bot” to quickly push up prices, followed by FOMO emotions triggered by Ben Pasternak or influential figures. This mechanism increases the risk for retail investors to buy at high levels. The experience of on-chain player James is even more warning: he lost $340,000 during the Clout period, missing out on this round of surge due to distrust in Believe.

The potential and concerns of the Believe ecosystem

The success of the Believe platform lies in its grasp of the intersection between the Memecoin craze and decentralized financing. Compared to competing platforms like Pump.fun, Believe achieved a dual breakthrough in traffic and market capitalization in a short period through the rebranding of LAUNCHCOIN and community operations. PANews noted that the Memecoins incubated by Letsbonk.fun and Believe (such as $DUPE and $Hosico) performed strongly in May, while projects from Pump.fun during the same period faded into obscurity due to a lack of explosive points. The Hyperliquid platform even offered up to 3x leverage trading for LAUNCHCOIN, further amplifying its market popularity.

However, the long-term sustainability of the Believe ecosystem is in doubt. Firstly, the platform is highly reliant on Ben Pasternak’s personal IP and community sentiment, lacking a clear governance mechanism. X user @Krystal_Eth warned that if the token issuance and price stabilization mechanisms are not optimized, Believe may struggle to attract retail investors for long-term participation.

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Market Outlook: Hype or Bubble?

The explosive rise of LAUNCHCOIN is a microcosm of the 2025 crypto market, reflecting investors’ pursuit of new narratives and high returns. The Believe platform has successfully activated the vitality of the Solana ecosystem through the “trust” narrative and low-threshold Token issuance. However, its reliance on short-term FOMO sentiment and high-risk trading models is destined to make it not a paradise for all investors.

For investors, the craze around LAUNCHCOIN is both an opportunity and a test. On-chain data shows that a few large whales and early players have achieved substantial returns, but retail investors must be wary of the risks of buying at high prices. If the Believe platform wants to solidify its ecological position, it must take substantial steps in mechanism optimization, community governance, and regulatory compliance.

This article only represents the author’s personal views and does not represent the position and views of this platform. This article is for informational sharing only and does not constitute any investment advice to anyone.

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