Launch Coin on Believe (Launchcoin) has seen explosive growth, up 27,000% in a month as interest surged nearly 3,000% last week and Believe App’s surge in interest. The Solana-based platform allows users to launch tokens directly via X (formerly Twitter) responses.
While Believe’s activities have recently cooled, Lawingcoin’s rapid rise has fueled speculation about the platform’s long-term potential. At the same time, questions remain about the sustainability of this growth and the risks that have been linked to the trends in the broader Internet capital market it represents.
I believe that I will turn my tweet into tokens, what risks are there?
Believe is a Solana-based MemeCoin LaunchPad that allows anyone to create tokens by simply replying to posts from their “LaunchCoin” X account.
The app was founded by Ben Pasternak and rebranded from a previous project called Clout. That native token has been skyrocked by skyrocked in the past 7 days.
Believe it, creators will be able to instantly launch Meme Coins via social media, collect fees from transactions, and if they reach a market capitalization of $100,000, they will be able to graduate from tokens and graduate to Meteora.
It democratizes access to token creation, but also raises concerns about fraud, spam and variable metadata, allowing fraudulent brands.
This simplified launch process works directly into the growing narrative of the Internet Capital Market (ICM). ICM allows anyone to bypass internet native ideas such as memes, apps, and platforms tokenize traditional financial gatekeepers into tradable crypto assets.
This model allows for 24/7 global capital formation without the need for certification, banks or brokers, and removes regulatory and technical barriers. While promising, it also draws criticism of its speculative nature and its similarity to memecoin.
Believe that app activity will slow down after a short surge when launching tokens
Belied App has seen a surge in usage between May 13th and May 15th, with users launching over 4,000 new tokens per day through its social media-based platform.
This explosive activity is considered to be temporarily positioned as one of the most active launch pads in the Solana ecosystem.
However, the pace of falling significantly slower on around 2,600 tokens on May 16th and just 895 new tokens on May 17th. This decline suggests that the initial hype surrounding the platform may be cooled, at least in the short term.
Despite the incredible momentum, Pump.Fun remains the dominant force among the Solana Launchpad. It consistently handles 20,000-30,000 new token launches per day, far surpassing all of its competitors.
In terms of market share, it reached a high point on May 15th, earning 13.6% of all Solana LaunchPad token launches. However, this share had fallen to just 2.6% by May 17th.
Still, some believe that tokens are finding success. Seven of the biggest tokens released on Solana Launchpads in the last seven days were born from the Believe app.
However, in the last 24 hours, only two tokens that appear to have entered that category that indicates the current volatility of the platform have entered that category.
We believe it will generate revenue of $104.17 million over the past seven days, and will roughly match the Pump’s $16 million. However, revenues have dropped sharply to $340,016 over the last 24 hours, while the pump has maintained its $2.5 million a lot higher.
Launchcoin surges 3,000% in a week. What’s next?
LaintingCoin, the native token for the Believe app, has surged nearly 3,000% over the past seven days, up from $0.008 to $0.25. Thanks to this rapid price appreciation, the market capitalization has reached approximately $250 million.
If current momentum applies, Launchcoin can immediately challenge resistance for $0.38. A breakout could potentially pave the way to a level of $0.50, doubleping its current market capitalization to about $500 million.
However, if on-chain signals refer to a decline in engagement or a decline in hype, the token may face a fix. Especially if the story about the Internet capital market doesn’t live up to the hype, then retest it for $0.16 first.
A break below that level could expose it to the negative side towards $0.097, marking a deeper retracement from the recent highs.
Disclaimer
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