Another scam?😅😅Pump.fun and Kimchi blew up in under 48 hours
Just two days ago, Pump.fun co-founder Alon was hyping Kimchi as the first trader to truly cross over from crypto into pop culture. The idea was that crypto-rich celebrities like him would pull in retail investors from outside the space.
Today it all fell apart. Kimchi posted a promo image with a QR code that led to a new memecoin. Alon reposted it himself, and the coin's market cap quickly shot past $10M, peaking at around $15M.
Then Kimchi deleted the post and Alon undid his repost. The price crashed about 98%, and at one point the market cap was down to just a few hundred thousand dollars.
On top of that, Kimchi removed Pump.fun from his X bio, and their earlier interactions have been scrubbed too...#kimchi #KimchiPump
Just two days ago, Pump.fun co-founder Alon was hyping Kimchi as the first trader to truly cross over from crypto into pop culture. The idea was that crypto-rich celebrities like him would pull in retail investors from outside the space.
Today it all fell apart. Kimchi posted a promo image with a QR code that led to a new memecoin. Alon reposted it himself, and the coin's market cap quickly shot past $10M, peaking at around $15M.
Then Kimchi deleted the post and Alon undid his repost. The price crashed about 98%, and at one point the market cap was down to just a few hundred thousand dollars.
On top of that, Kimchi removed Pump.fun from his X bio, and their earlier interactions have been scrubbed too...#kimchi #KimchiPump