LAUNCHCOIN has seen a remarkable 9,336% surge in price over the last 12 days, attracting investor attention. This surge has pushed its market cap to $258 million, surpassing tokens like Gigachad and Moo Deng. However, questions have been raised about the token's legitimacy and sustainability. The number of LAUNCHCOIN holders jumped from 7,738 to 31,683 in just 18 days, but this growth has slowed significantly in the past week, with less than 600 new holders. This slowdown, along with the price spike, suggests that the token may be nearing a market peak. Concerns about the altcoin's long-term viability have been raised due to the sluggish holder growth. Moreover, red flags have emerged, such as the concentration of supply among a small group of wallets and the low percentage of locked liquidity pool. These factors indicate potential price manipulation and volatility risks, prompting caution among investors. Read more AI-generated news on: https://app.chaingpt.org/news