A trader has transformed $9,000 into $5 million in just one month by investing in LAUNCHCOIN.

Formerly known as PASTERNAK, LAUNCHCOIN has skyrocketed by over 348% in the past 24 hours, sending its market capitalization soaring past $230 million.

LAUNCHCOIN, formerly known as PASTERNAK, has soared more than 348% in the past 24 hours. Its market capitalization has exceeded $230 million.

LAUNCHCOIN is the token associated with Ben Pasternak, the founder of Clout, a SocialFi platform built on Web3 technology.

PASTERNAK was rebranded to Launch Coin on Believe (LAUNCHCOIN) after Clout upgraded its brand to Believe, aiming to align the token name and position the project in the market. The combination of Web3 technology and the SocialFi model has created unique appeal for LAUNCHCOIN.

Traders and whales have reaped massive profits from the meteoric rise of LAUNCHCOIN. 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, boasting a 515x return.

This trader isn’t the only one. 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.