Imagine a world where anyone with a bold idea can launch a cryptocurrency with just a tweet. That’s the promise of Launch Coin on Believe (LAUNCHCOIN) and the Believe platform. It’s a disruption in the crypto space. But with sky-high hype and a market cap soaring from $10 million to over $240 million in days, is this a groundbreaking opportunity or a speculative venture?
This article digs into LAUNCHCOIN’s origins, its innovative “Internet Capital Markets (ICM)” concept, and the serious risks you need to know before jumping in.
From PASTERNAK to LAUNCHCOIN: A Rebrand That Ignited a Surge
LAUNCHCOIN started as PASTERNAK, a token tied to the Clout platform, created by Ben Pasternak. It was launched in January 2025. Clout later became Believe, and on May 3, 2025, PASTERNAK was rebranded to LAUNCHCOIN. The rebranding process involved updating trading pairs to PASTERNAK/USDT and LAUNCHCOIN/USDT, maintaining a 1:1 balance for existing holders.
Believe announced this change on X, sharing the new token’s contract address. The rebrand wasn’t just a name change — it aligned the token with Believe’s mission to make token creation easy for everyone.
Because Ben Pasternak was closely linked to PASTERNAK, many believed LAUNCHCOIN would be Believe’s official coin. This sparked a wave of excitement. Between May 12 and May 14, this year, LAUNCHCOIN’s market cap shot up from $6+ million to over $147+ million, hitting a high of over $300 million by May 15, according to CoinGecko.
Believe: Token Creation at the Speed of a Tweet
Believe, rebranded from Clout, is a SocialFi launchpad built on the Solana blockchain, launched in late April 2025. It revolutionizes token creation by allowing users to mint tokens through X interactions, specifically by posting “$TICKER + @launchcoin” and replying to the platform’s X account. This process enables tokens to be tradable on DEXes like Raydium and Orca, with over 9,845 tokens created and $400 million in trading volume reported by Mudrex Learn.
But there’s a catch. Believe clearly states that no coin on its platform, including LAUNCHCOIN, is an official security or represents equity. This gap between hype and reality is a red flag for investors.
An X user, 0x_ultra, has created an unofficial leaderboard of all Believe-created coins.
Internet Capital Markets: Fundraising Revolution or Risky Ploy?
LAUNCHCOIN introduced a bold idea called “Internet Capital Markets (ICM).” It lets anyone launch a token by replying to an X post from Believe’s Launchcoin account with a ticker and name. No coding skills or crypto wallet is needed. For example, a user can tweet “@launchacoin MYCOIN” and Believe creates the token on the Solana blockchain, ready to trade.
This approach is a game-changer. It opens the door for creators to fund their ideas through crypto. Believe’s founder, Ben Pasternak, claimed on X that millions flowed to builders shortly after the platform’s launch on May 2, 2025. But Believe’s disclaimer — that tokens aren’t securities — clashes with the idea of raising capital like a startup. This mismatch fuels confusion and risk.
LAUNCHCOIN’s Market Performance and Speculation
LAUNCHCOIN’s market performance has been volatile, with a 500% rally post-rebranding, driven by speculation it might be Believe’s official token. Current data from CoinMarketCap shows a price of $0.1710, a market cap of $170.99 million, and a 24-hour volume of $95.04 million, with a circulating supply of nearly 1 billion tokens.
The Dark Side: Scams, Volatility, and System Strains
Believe’s rise comes with serious dangers. Here are the biggest risks:
- Scams and Rug Pulls:
Many tokens on Believe are memecoins — speculative assets with little real value. They can crash fast when the hype fades. Scammers can exploit this, launching tokens to trick investors before vanishing with the funds.
- Spam Overload:
Believe’s token launch process relies on X replies. One LAUNCHCOIN post got over 5,000 replies, far less than the over 13,000 addresses creating a token today, May 24, on rival platform Pump.fun. Without strong filters, spammers could flood the system, causing chaos or crashes.
- Volatility:
LAUNCHCOIN experiences extreme price swings, with recent 500% rallies followed by declines.
- Changeable Token Details:
Believe lets creators edit token details, like names or website links, even after launch, according to Rugcheck.xyz. This helped LAUNCHCOIN rebrand from PASTERNAK, but it’s also a scam risk. Creators could rename tokens to mimic popular projects or add phishing links, tricking investors.
Believe’s disclaimer that tokens aren’t securities adds another layer of risk. The market sees LAUNCHCOIN as a big deal, but Believe’s rules don’t match this hype, leaving investors vulnerable.
Believe vs. Rivals: A New Player in a Wild Race
Believe isn’t alone in the memecoin launchpad space. Pump.fun, a similar platform, sees 27,000+ daily token launches, according to Dune Analytics. But Believe’s X-based system makes it even easier, tying token creation to social media hype. This draws in creators without technical backgrounds but risks spam and scams. Unlike Pump.fun’s high-volume focus, Believe’s social approach needs stronger safeguards to stay secure and scalable.
Legal Storms on the Horizon
Believe faces challenges ahead. On May 19, Burwick Law, a digital consumer protection law firm, announced plans to sue Believe, claiming its easy token launches enable scams with little transparency.
“We cannot sit idly by while the most promising idea of crypto, decentralizing access to capital, is co-opted by sophisticated actors scamming retail buyers,” a Burwick Law’s X post read in part.
This lawsuit could reshape how Believe operates or set rules for similar platforms.
Still, Believe’s early success — $200 million in volume soon after launch, per Ben Pasternak’s X post — shows its appeal. If Believe can tackle legal and security issues, it could lead a new wave of crypto innovation.
Proceed with Caution
LAUNCHCOIN and Believe offer a bold vision: anyone can launch a token and raise funds online. But the risks — scams, system overload, and legal battles — are real. These risks are compounded by the platform’s focus on memecoins, which lack intrinsic value and are prone to crashes. Mitigation strategies include small allocations, diversification (<5% portfolio in any memecoin), and staying informed.
The hype around LAUNCHCOIN drove its market cap to dizzying heights, but Believe’s disclaimers show it’s not what it seems. Before investing, do your own research (DYOR) and weigh the risks carefully.
The crypto world moves fast, but caution could save you from a costly mistake.
#Crypto #Trading #Memecoin #Believe #Launchcoin #DigitalAssets
Author: Ayanfe Fakunle
See Also:
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Memecoins: Why Are They Resurgent In 2024? | Disruption Banking
