Crypto influencer Kimchi Bio links up with pump.fun; meme coin of the same name surges 100% in a short time before pulling back.

Crypto influencer Kimchi’s X account bio was changed back to @pumpfun this morning. According to GMGN data, the previously fast-launched token Kimchi surged over 100% from a $6 million market cap, hitting $12 million before pulling back, and is now trading at $9.23 million with a 24-hour trading volume of $4.1 million. The collaboration between crypto influencer Kimchi and pump.fun has been a farcical mess. On October 20, the fast-launched token Kimchi quickly reached a $47 million market cap amid a series of positive updates, before plummeting. Market rumors claimed pump.fun paid 1.35 billion PUMP tokens (worth around $6.25 million) to secure Kimchi as its spokesperson. However, on the 23rd, Kimchi posted a QR code linking to another Kimchi token, which spiked to a $10 million market cap briefly before crashing to zero. During this period, multiple wallets bought KIMCHI at low prices in advance and sold after the price rose, reaping over $385,000 in total profits. Kimchi later removed the @pumpfun tag from their bio, only to add it back again this morning. BlockBeats reminds users that celebrity meme coins are heavily influenced by the actions of their promoters, exhibit extreme price volatility, and are prone to insider trading and front-running; users should exercise caution when investing.