KIMCHI reached a market capitalization of about $14 million before plunging more than 95%, according to Lookonchain monitoring cited by BlockBeats on Oct. 23. The report linked the surge to social media posts that were later removed or had their repost withdrawn.
Wallet profit claims remain attributed
Lookonchain said the account kimchi1x received 500 million KIMCHI and posted about the token before a1lon9 reposted it. It also reported more than $385,000 in profits from trades across several linked wallets, attributing those trades to a suspected scammer. The report did not establish the identities behind those wallets.
Source: BlockBeats, 2026-10-23 07:13:24 UTC.