It is reported that this trader, known for earning 40 million US dollars on $TRUMP, has now joined Pump.fun. As the tokens of $KIMCHI have soared rapidly, he has also disclosed his investment in that platform; at the same time, critics have begun to question the speculative risks driven by such individual reputations.
The platform also displayed a billboard with the text “Be the next Kimchi”, portraying this trader as a role model that others could emulate.
Pump.fun Co-founder Alon Welcome Kimchi to join, calling him the first person to successfully connect cryptocurrencies with pop culture and become famous through trading.
Alon indicates that Kimchi will help shape the creative direction of the platform. Pump.fun is seeking breakthroughs to attract mainstream users. He also outlined an ecological vision that is 10 times larger than the previous cycle, with the ultimate scale expected to expand to 100 times the current size.
$ KIMCHI soared to a market value of $44 million within an hour
This announcement coincided with a sharp rise in the value of the $ KIMCHI token. Within less than an hour of Kimchi being added to the application, the market value of that token reached approximately 44 million US dollars. However, DexScreener data shows that the total liquidity of this token across all trading pairs is only about 570,000 US dollars.
It is reported that Kimchi earned $40 million by trading $TRUMP tokens and holds approximately 75% of the supply of $KIMCHI tokens. Due to the increase in the price of $KIMCHI, the valuation of his portfolio also rose to about $42.5 million within an hour after adding Pump.fun.
Subsequently, this round of gains cooled down. As of press time, the market value of $ KIMCHI is approximately 31 million US dollars, down from a high of 44 million US dollars.
Pump.fun also announced that Kimchi gained 25,000 followers on the application within 12 hours of joining, highlighting the immediate attention his arrival brought.
Kimchi disclosed its investment in Pump.fun in the first vlog.
Kimchi uses a 16-minute YouTube vlog to commemorate this announcement. The video content mainly consists of lifestyle-related materials.
In the video, he revealed that he has invested in Pump.fun. When someone asked about a pill-shaped plush toy with a Pump.fun logo, Kimchi replied, "That pill thing? Yes. It's basically the company I invested in. That company is where my endeavors began," and then he specifically mentioned Pump.fun.
Traders compare the $ KIMCHI with the $ ANSEM tokens of Ansem.
Some traders compare $ KIMCHI with $ ANSEM, the latter of which is a token associated with the crypto figure Ansem. Approximately 65% of the token supply has been sent to the wallet of Ansem.
This comparison highlights recurring concerns in the issuance of personalized tokens: how much of the supply is controlled by well-known individuals, what incentives they have to promote these tokens, and whether buyers understand these incentives before making their investments.
The community has mixed reactions to the arrival of Kimchi. Those who support Pump.fun's strategy may believe that his visibility will help attract new users to the crypto sector. Critics, however, argue that celebrity-driven launches could lead inexperienced traders to mistake the network's popularity for a reliable path to profit.
Kimchi Can it bring "ordinary people" into the game?
Pump.fun regards Kimchi as part of his effort to shape the characters involved in the transactions into mainstream internet celebrities. The rapid growth of his followers, as well as the initial surge in the value of $KIMCHI, indicate that this announcement immediately sparked interest.
However, the fact that $ KIMCHI has fallen back from 44 million US dollars, and that approximately 75% of the supply is concentrated in the hands of Kimchi, also highlights the risks faced by buyers in a highly concentrated market driven by individual reputations.
Past experiences with creator coins, live streaming tokens, and tokens issued with celebrity endorsements are enough to be cautious about. Most of these tokens see a rapid rise after their initial issuance, only to then lose momentum and approach zero in value. $ANSEM is a notable exception, as it has retained some of its initial popularity. Whether Kimchi will achieve a different outcome remains to be seen. However, historical patterns show that it is not easy to maintain demand after the initial excitement wears off. As for whether this collaboration can bring lasting users to Pump.fun, it depends on more factors beyond short-term attention.
