Today's Hot Topic: After Kimchi Joins Pumpfun, Namesake Meme Coin Surges to $40 Million Market Cap in One Hour

Odaily reports: After Solana trader Kimchi (@kimchi1x) joined Pumpfun, the namesake Meme coin $Kimchi completed its surge in an extremely short period: social platform records show that approximately 10 minutes after launch, the token's market cap reached $30 million, and after about 1 hour it briefly broke through $40 million. Pumpfun co-founder Alon has publicly confirmed the partnership between the two, stating that Kimchi is participating in the platform's creative direction; Alon also believes that $Kimchi is blurring the boundary between crypto trading and popular culture, forming a new social trading narrative.

On-chain analyst Ai Yi stated that Kimchi's associated wallet withdrew approximately 1.35 billion PUMP from trading platforms over the past 3 hours, worth about $6.43 million; Kimchi is said to hold 75.32% of the total supply of $KIMCHI, and their X account bio has also been changed to @pumpfun. Around this holding ratio, market attention has rapidly concentrated on token distribution and their personal influence.

One address bought 9.91 million $Kimchi with 8 SOL, approximately $848, then sold 4.88 million tokens for 1,045 SOL, approximately $111,000; the address still holds 5.03 million tokens, valued at approximately $171,000, with cumulative profits reported at approximately $282,000. Another on-chain record shows that this trader invested $849.29 when the market cap was only $85,700, then added another $160.2, and has currently sold half of the tokens to realize approximately $111,000 in profit, with the remaining position showing unrealized gains of approximately $162,000.