Traderpow: Solana memecoin trader makes $2.4M on LAUNCHCOIN

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Solana memecoin trader, Traderpow, just made $2.4M on Launchcoin (LAUNCHCOIN). He initially acquired the coin back in January, when the coin was launched as PASTERNAK, named after the founder of Clout.me, Ben Pasternak. The token later died off as the hype died down, with the token falling to a market capitalization of just 183K at its lowest. At this point, Traderpow’s position was down to $3,500, 99% down from his entry.

This massive 99% drawdown demonstrates the extreme volatility and risk associated with newly launched memecoins. Holding a position through such a significant paper loss highlights the high-risk, high-reward nature of this specific trading strategy.

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On April 28, the team announced a rebrand to Believe, quickly becoming the center of a new narrative, Internet Capital Markets. The PASTERNAK token rebranded as Launchcoin and quickly soared to a new high, peaking at a market capitalization of $370M. As the token reached a new high, Traderpow also began unloading his positions, selling off 14.7M tokens for a profit of $2.4M. He currently still holds 3M tokens worth over $527K.

The rebrand proved to be a critical catalyst, reviving the token and creating immense value seemingly overnight. This strategic shift from a "dead" token to a profitable asset underscores the power of narrative and marketing in the memecoin space.

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Traderpow's decision to sell off a large portion of his holdings as the token peaked is a classic example of profit-taking. By securing $2.4M, he realized his gains while still maintaining significant exposure to potential future upside with his remaining tokens.