A newly launched Solana meme coin, Kimchi, reached a $40 million market cap within one hour of going live, according to GMGN market data cited by BlockBeats on Oct. 21. The token was later quoted at $38.71 million, with trading volume reaching $23.7 million. The report also said X user Kimchi (@kimchi1x) currently holds 75.32% of the token’s total supply.
BlockBeats described the trader as known for a low-profile and mysterious online persona. The account rarely posts trade records or trade calls, and instead mainly shares photos and videos of luxury lifestyle content, including travel, cars and watches. Its X bio has been changed to @pumpfun.
Pump.fun co-founder alon said in a post that Kimchi is the first person to truly bridge crypto and pop culture, and the first case of a trader becoming a public celebrity. He added that the next wave of users will not come from CT, or Crypto Twitter, but from a broader mainstream audience, and said Pump.fun is pleased that Kimchi can help shape the project’s creative direction as it pushes for ecosystem growth.
Solana-based meme coin Kimchi reached a $40 million market cap within one hour of launch, according to GMGN market data cited by BlockBeats on Oct. 21. The token was later quoted at $38.71 million, while trading volume stood at $23.7 million.
Holdings and account profile
BlockBeats reported that X user Kimchi (@kimchi1x) currently holds 75.32% of the token’s total supply. The trader is known for a low-profile and mysterious image online. The account rarely posts trade records or trade calls, and mostly shares photos and videos featuring luxury daily life, travel, high-end cars and watches. Its X bio has been changed to @pumpfun.
What alon said
Pump.fun co-founder alon wrote that Kimchi is "the first person to truly bridge the gap between the crypto industry and pop culture," and also "the first case of a trader growing into a public celebrity."
He said Kimchi represents where the industry is headed: building a large social trading ecosystem, bringing in more retail users, and expanding the ecosystem to 10 times the size of the previous cycle. He added that the next wave of users will not come from CT, or Crypto Twitter, but from a broader mainstream audience. Pump.fun, he said, is glad Kimchi can help shape its creative direction and push the ecosystem toward a 100x expansion goal.
BlockBeats warned that many meme coins have no practical use cases and can see sharp price swings, and said investors should be cautious.
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