Trader Turns $8K into $4M on LAUNCHCOIN: Smart or Insider?

In a jaw-dropping move, a crypto trader has turned a modest $8,191 investment into a staggering $4 million profit in just 22 days while trading LAUNCHCOIN on Solana blockchain. 

The success story of the trader—highlighted by blockchain analytics platform Lookonchain on X, centers around LAUNCHCOIN, a Solana-based token tied to the Web3 SocialFi platform Believe.

According to Lookonchain, the trader withdrew 68.8 SOL from Binance after four months of inactivity and used 54 $SOL ($8,191) to purchase 14.62 million LAUNCHCOIN when its market cap was below $500,000. Almost immediately after the buy, LAUNCHCOIN price skyrocketed and eventually breaking a $300 million market cap. 

The trader began selling once the market cap crossed $200 million, offloading 2.5 million tokens for 3,465 $SOL ($617,000). They still hold 12.12 million LAUNCHCOIN, valued at $3.5 million, bringing their total profit to over $4 million—a 500x return.

LAUNCHCOIN, formerly PASTERNAK, has been on a volatile ride. After crashing 99% earlier this year, the token was rebranded and integrated into the Believe ecosystem, a platform that leverages social engagement on X for token launches. 

This rebranding, coupled with listings on major exchanges like Bybit, BingX, and Bitget, fueled a 225% price surge on May 14, reaching an all-time high of $0.3647, according to CoinMarketCap data . 

The crypto community is divided on two fronts with some calling this trader “100% insider,” pointing to the suspiciously perfect timing before the rebrand and price pump. Others argue that onchain analytics could enable such gains without insider knowledge.