In brief
- One trader turned a $332 investment into approximately $190,000 trading Gooncoin.
- The token launched on the rebranded Believe App via its X reply “Launch Coin” mechanism.
- Gooncoin is now trading at a $54.6 million market cap, up 70,000% in the last 24 hours.
A Solana meme coin trader turned $332—or less than 2 SOL at the time—into nearly $190,000 by trading a newly launched meme coin called Gooncoin over the past 24 hours.
The GOONC token was introduced late Monday night via Believe App’s “Launch Coin” mechanism, which allows any X (formerly Twitter) user to create a Solana token in a post that tags the Launch Coin account. Since debuting, the token has skyrocketed 70,000% to a $54.6 million market cap.
Within minutes of Gooncoin’s start, a trader with the Solana address beginning in “BdjSZ” purchased more than 8 million GOONC tokens for just 1.97 SOL, or around $332. Less than 24 hours later, that account has slowly clipped away its GOONC stack, frequently selling batches of tokens for between $1,600 and $3,500—and locking in nearly $190,000 in profits in the process.
Discourse around the meme coin—which refers to a slang term for “chronic and compulsive masturbation” according to Urban Dictionary—continues to pick up steam on X, where some users are likening it to other absurd meme coins like Fartcoin.
“Fartcoin is for TradFi bros, Gooncoin is for zoomers,” an X user posted, while another lamented attending university when they could have just bought Fartcoin and Gooncoin instead.
The token’s sharp rise in a short period of time has led to a host of lofty profit-and-loss numbers, according to data from DEX Screener.
In addition to “BdjSZ,” at least three other wallets purchased less than $500 worth of GOONC tokens and have more than $50,000 in realized profits, with greater than $100,000 in unrealized profits still in their wallets.
The token is the latest from the Believe App to reach escape velocity, including snake-game token NOODLE, which jumped to more than a $19 million market cap in the first 14 hours of trading.
Believe, recently rebranded from Clout.me, aims to “disrupt traditional venture capital and revolutionize how founders raise funding,” allowing them to launch tokens associated with their projects and raise funds from the community. The app is available on iOS.
Meme coins are skyrocketing in recent days, with highest-value coin Dogecoin posting a 41% weekly gain.
Many notable Solana meme coins—including those that went viral in 2024 and early 2025 before substantially cooling off—are flying even higher in recent days, with Dogwifhat (WIF) up 117%, Peanut the Squirrel (PNUT) rising 189%, and Moo Deng (MOODENG) surging by 762%.
Edited by James Rubin
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
