A Solana-based meme coin known as Project Kimchi, or KIMCHI, experienced extreme volatility in late October 2026. The token, inspired by crypto trader Kimchi, first climbed rapidly after launch before later suffering a sharp reversal tied to a removed social-media promotion.

Early Launch Surge and Subsequent Decline

Shortly after its debut, Kimchi’s market capitalization reached $40 million within the first hour of trading. An early reading showed a valuation of $38.71 million alongside $23.7 million in trading volume. By the following day the figure had slipped below $25 million to $24.86 million and later stood at $21.51 million.

Trader Kimchi, whose online handle is @kimchi1x, held 75.32 percent of the token’s total supply at that stage. One prominent individual wallet had committed $144,000 when the market capitalization was $33.7 million. At the $21.51 million level that position carried an unrealized paper loss of more than $50,000.

Promotion Triggers Fresh Rally

On October 23 trader Kimchi posted an image featuring a street poster for “project kimchi,” a pill graphic and a QR code that directed users to the token. Pump.fun co-founder Alon reposted the material. The market capitalization briefly climbed to approximately $15 million.

Alon had previously described the trader as the first to connect crypto with popular culture and had confirmed a partnership in which Kimchi assisted with Pump.fun’s creative direction.

Rapid Collapse After Repost Removal

Alon later deleted the repost. Kimchi then removed the original post and took the word “pumpfun” from his profile. Neither party offered a public explanation. Reports of a possible account compromise remained unconfirmed.

Selling pressure intensified immediately. The market capitalization fell more than 98 percent from the $15 million peak to about $284,000–$288,000 within minutes. One reading showed a low near $164,000–$170,600. Price action on short-term charts displayed a single tall green candle followed by an equally sharp red candle, with the token peaking above $0.014 before the decline.

Latest Market Snapshot

Recent data placed the KIMCHI price near $0.0002933, with a market capitalization of approximately $288,000 and liquidity of $52,000. The token recorded more than 76,000 transactions in 24 hours, split between roughly 40,500 buys and 36,000 sells. Buy and sell volumes were nearly balanced at about $4.5 million and $4.4 million respectively. Holder count stood near 2,049.

The token later showed modest short-term gains of about 4.8 percent over one hour and nearly 60 percent over six hours from the post-crash lows, while remaining far below earlier peaks. Volume subsequently thinned and price action moved sideways for several hours.

Liquidity and Volatility Considerations

Liquidity of only $52,000 relative to multimillion-dollar daily volume means larger orders can produce outsized price swings. The sequence of a rapid rise, sudden promotion removal and 98 percent drawdown illustrates the speed at which Solana meme-coin valuations can change.

No further official statements from Alon or trader Kimchi addressed the deleted posts or the subsequent market reaction.