s/pmarcaTOKEN CRASH•1d
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Kimchi token loses over 95% after hitting a $14 million market cap
The Kimchi token hit roughly a $14 million market cap and then lost more than 95% within minutes. Kimchi had received 500 million tokens and promoted it before Pump.fun founder Alon reposted the promotion; both posts were later removed. Lookonchain said related wallets realized more than $385,000 in profit, while the evidence does not establish whether this was a wallet scheme or an account compromise.
Timeline2
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The Kimchi token was reported to have risen to a $15 million market cap before falling to about $1 million within minutes.
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Lookonchain reported that Kimchi received 500 million tokens, promoted the token, and that related wallets later realized more than $385,000 in profit.
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