A crypto influencer’s promotion of a meme token briefly pushed its market capitalization to $10 million before a deleted repost sent it down to about $190,000, BlockBeats reported, citing community reports.
Repost and deletion drove a rapid reversal
The influencer, known as kimchi, posted an image containing a QR code for a token named kimchi. The token address held more than half of the supply, and the project was different from an earlier token that had briefly reached a $30 million valuation.
pump.fun founder alon reposted the image, after which the new token’s market cap rose to about $10 million. Alon later removed the repost, and kimchi deleted the original post and the “pump.fun” reference from the profile; the new token’s market cap then fell to roughly $190,000. GMGN data put the earlier Kimchi token at about $12.81 million in market cap.
The reported wallet ownership and social-media actions were not independently verified. BlockBeats said community members criticized the pair’s conduct.