New token promoted by Kimchi plunges after promotion post is deleted and alon cancels repost
BIBIBI
AT A GLANCE
The report said that the new kimchi token surged and then plunged after promotion, reposting, and withdrawal of the related content, while the community’s allegations have not been verified.
Article
⚡️Crypto influencer kimchi promoted a new meme coin; after pump.fun founder reposted it and then canceled the repost, the related token surged before quickly falling to zero
BlockBeats reported that October 23, according to community revelations, crypto influencer kimchi posted an image this morning containing a QR code pointing to the meme coin kimchi (the kimchi address holds more than of this token, and it differs from the token previously fast-rugged by 50%in terms of 30000000 USD), after which pump.fun founder alon reposted the tweet, causing the new kimchi token’s market capitalization to briefly surge to 10000000 USD. However, alon subsequently canceled the repost, and kimchi also deleted the tweet while removing the words “pump.fun” from the profile bio, causing the token to fall rapidly again; its market capitalization is now reported at 190000 USD.
In addition, according to GMGN market data, the original fast-rugged Kimchi began accelerating its decline this morning as well, with its market capitalization now reported at 12810000 USD.
The above actions by kimchi have sparked widespread community discontent, with crypto investors condemning the conduct related to kimchi and alon as “suspected of violating the law.”
kimchi has repeatedly flaunted wealth on social media and once claimed to have made substantial profits by investing in TRUMP tokens. Pump.fun co-founder alon recently posted that Kimchi was the first person to truly bridge the gap between the crypto industry and popular culture, and the first example of a trader becoming a public figure.
BlockBeats reminds users that meme coins have no practical use and are highly volatile, and users should exercise caution when investing.
Original link https://m.theblockbeats.info/flash/373304
Key points
01
BlockBeats said that October 23, according to community revelations, the image posted by kimchi contained a QR code pointing to the meme coin kimchi.
02
The report said that the kimchi address holds more than 50%of the token, and that it differs from the token previously fast-rugged by 30000000 USD.
03
The report said that after alon reposted the relevant tweet, the new kimchi token briefly reached a market capitalization of 10000000 USD.
04
The report said that alon subsequently canceled the repost, while kimchi deleted the tweet and removed the words “pump.fun” from the profile bio.
05
The report showed that the new kimchi token then fell rapidly, with its market capitalization now reported at 190000 USD。
06
The reported GMGN market data indicated that the original fast-rugged Kimchi accelerated its decline this morning, with its market capitalization now reported at 12810000 USD。
07
The report said that crypto investors condemned the conduct related to kimchi and alon as “suspected of violating the law.”
08
BlockBeats reminded users that meme coins have no practical use and are highly volatile, and that investments should be approached with caution.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This news describes a meme coin that was significantly affected by social media dissemination: the token’s market capitalization rose briefly after the related image and repost appeared, then fell rapidly after the repost was canceled and the post deleted. The report also mentioned that another pre-existing Kimchi token declined during the same period.
Why it matters to readers
Within a short period, its market capitalization fell from 10000000 USD to 190000 USD, demonstrating extreme price volatility. The reported single address holding more than 50%of the supply also indicates that holdings may be relatively concentrated.
Beginners should not regard an influencer’s post or repost as proof of a project’s reliability. For meme coins with concentrated holdings and sharp price increases and decreases, be aware that substantial losses may occur.
Risks and unknowns
The promotion process and holding ratio in the news came from community revelations, and the original article did not provide independent verification results.
The specific motives behind the relevant individuals’ promotion, post deletion, or cancellation of the repost cannot be confirmed from the original article.
The community's statement that it is "suspected of violating the law" is merely an allegation; the original text does not provide a determination by a regulatory or judicial authority.
The market capitalization is the real-time market data reported in the article; subsequent price, liquidity, and trading volume are unknown.
Related Developments
Loading event timeline…
Not explicitly stated in the original text October 23 the corresponding year.
Related concepts
meme coin
This term is not in the glossary yet. Browse related concepts in the glossary.
