Project Kimchi Market Value Plummets 98 Percent
The token crashed after promotional posts were removed from the pump.fun platform.
Updated on Oct. 23, 2026 in Marketing
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Project Kimchi saw its market capitalization collapse from $15 million to $284,000 in a rapid decline. The crash followed the removal of promotional material by the token creator and a platform co-founder.
Why it matters
The dramatic reversal highlights the extreme volatility common in speculative token projects promoted on social-focused trading platforms. Investors faced significant losses as the token valuation retracted almost entirely from its peak.
Project Kimchi recorded $9.3 million in trading volume over a 24-hour period. The token current market capitalization sits at $284,000, down from a $15 million high.
The players
Alon
He is a co-founder of the pump.fun trading platform.
Kimchi
He is a trader who originated the promotional post for the token.
The details
The token reached its peak valuation after a promotion by trader Kimchi, which included a QR code and was reposted by pump.fun co-founder Alon. Subsequently, both the original post and the repost were deleted, and references to the platform were removed from the trader profile.
Timeline
The token recorded $9.3 million in 24-hour trading volume during October 22-23, 2026.
Market Landscape
The collapse of Project Kimchi reflects the broader trend of high volatility and rapid boom-and-bust cycles observed on memecoin launchpads. This event follows a pattern set by other tokens where social media amplification drives rapid, unsustainable price spikes.
Investors who bought into the token during its peak experienced substantial losses as the market capitalization erased 98 percent of its value. Those tracking these tokens should be aware of how quickly promotional support can be withdrawn by creators and platform figures.
The takeaway
Speculative token projects often rely on social media momentum that can vanish overnight. Maintaining caution when engaging with assets that lack long-term utility is essential for protecting capital.
Further reading
Learn more about the latest trends in digital asset Marketing.
Source note: This article includes information reported by TokenPost.
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