Crypto influencer kimchi bio adds 'pump.fun',同名meme coin briefly doubles then pulls back.

BlockBeats news, October 26: The bio of crypto influencer kimchi's X account was changed again to "@pumpfun" this morning. As a result, according to GMGN market data, the previously fast-tracked token "Kimchi" quickly more than doubled from a $6 million market cap, touched $12 million before pulling back, and is now at $9.23 million, with 24-hour trading volume reaching $4.1 million.

The collaboration between crypto influencer kimchi and pump.fun can only be described as a dramatic farce. On October 20, the fast-tracked token "Kimchi" quickly reached $47 million amid a series of positive developments, then fell all the way down. During this period, market rumors said that pump.fun paid 1.35 billion PUMP tokens, worth about $6.25 million, to invite kimchi as a spokesperson.

However, on the 23rd, kimchi posted a QR code pointing to another Kimchi token. That token briefly surged to a $10 million market cap and then quickly went to zero. During this period, multiple wallets bought KIMCHI in advance at low prices and sold after the price rose, making cumulative profits of more than $385,000. Kimchi then removed "@pumpfun" from their bio, and only added it back this morning.

BlockBeats reminds users that celebrity meme coins are heavily affected by the behavior of the individuals involved, with large price fluctuations and a tendency to breed insider trading and rat trading. Users should invest with caution.