LAUNCHCOIN Market Cap Surpasses $230 Million, 24-hour Price Increase Exceeds 348%

BlockBeats News, May 14th, according to GMGN market data, LAUNCHCOIN (formerly PASTERNAK) continued its surge, with a more than 348% increase in the past 24 hours, breaking through a market cap of $2.3 billion and a 24-hour trading volume of $1.26 billion.

PASTERNAK is a celebrity coin for Clout founder Ben Pasternak. Clout is a SocialFi platform based on Web3 technology that allows celebrities and creators to issue tokens named after themselves, attracting fans and investors to participate, thus achieving the financialization of personal brands. In previous news, PASTERNAK was renamed to Launch Coin on Believe (LAUNCHCOIN), aligning the token name with the rebranded Clout platform name (Believe).

BlockBeats Note: Meme coins experience significant price volatility, relying heavily on market sentiment and hype around concepts, with no real value or use case. Investors should be aware of the risks.