Believe App Frenzy Sends LAUNCHCOIN Up 27,000%—But Can It Last?

LAUNCHCOIN, the token behind Solana-based Believe, has surged 27,000% in just a month, fueled by viral buzz around its one-click meme coin launch feature. As traders flock to the platform, the question now is whether this explosive momentum can hold—or fade just as fast.

Solana-based Believe—a memecoin launchpad that mints new tokens simply by replying to its “Launchcoin” account on X—has ignited explosive interest. Over the past month, its native token, LAUNCHCOIN, skyrocketed 27,000%, including a nearly 3,000% gain in the last seven days alone, as users rushed to capitalize on the platform’s viral simplicity.

Chart by TradingView

Founded by tech entrepreneur Ben Pasternak and evolved from the earlier Clout project, Believe democratizes token creation: any user can spin up a meme coin in seconds, earn trading fees, and potentially graduate successful tokens to the larger Meteora ecosystem once they hit a $100,000 market cap.

Between May 13 and 15, Believe topped 4,000 daily token launches—capturing 13.6% of new Solana-based projects—but activity cooled to fewer than 1,000 by May 17. Despite the slowdown, Believe still generated $14.2 million in revenue over the past week, nearly rivaling Pump.fun’s $16 million.

Market Cap Approaches $250 Million

That brief surge thrust LAUNCHCOIN’s market cap toward $250 million, prompting traders to eye resistance levels at $0.38 and $0.50. Yet in the last 24 hours revenue plunged to just $340,000, underscoring how quickly hype can ebb.

Believe exemplifies the broader Internet Capital Markets (ICM) trend: tokenizing social media engagement, memes, or grassroots campaigns into tradable crypto assets without banks or brokers.

While this permissionless model promises 24/7 global capital formation, it also draws criticism for its speculative, meme-driven nature. Concerns include rampant spam, easy scams, and mutable metadata that could allow deceptive token rebrands.

Looking Ahead: As LAUNCHCOIN rides the wave of viral growth, it faces a crucial test: sustaining user engagement beyond an initial frenzy. If the platform can forge meaningful partnerships, integrate legitimate use cases, or improve its vetting, LAUNCHCOIN might hold above $0.16 support—and push toward new highs. But without lasting utility, it risks a sharp retracement toward $0.097, reminding investors that in the world of click-to-mint tokens, yesterday’s headline can become today’s cautionary tale.