Quick-fire Kimchi coin price halves from peak, top whale who bought at the high now faces over $50,000 in unrealized losses.

BlockBeats news, October 22, according to GMGN market data, the Solana chain Meme coin Kimchi quickly reached a $40 million market cap yesterday before continuing to decline, now at $21.51 million, a drop of over 50% from its peak.

The top individual holder address invested $144,000 at a $33.7 million market cap and is now facing an unrealized loss of over $50,000.

Earlier news, the token is inspired by influencer trader Kimchi (@kimchi1x), who currently holds 75.32% of the total supply of this Meme coin.

BlockBeats reminds users that Meme coins mostly lack practical use cases and have high price volatility, so investment requires caution.