Solana-based meme coin Kimchi hits $40 million market cap within 1 hour of launch.

October 21, according to GMGN market data, the Solana on-chain Meme coin Kimchi reached a market cap of $40 million within 1 hour of launch, currently at $38.71 million, with a trading volume of $23.7 million.

X platform user Kimchi (@kimchi1x) currently holds 75.32% of the total supply of this Meme coin. The trader is known for a low-key and mysterious image, almost never posting trading records or calls, mainly sharing luxurious lifestyle, travel, luxury cars, watches, and other high-end daily photos/videos. Their X bio has been changed to @pumpfun.

Pump.fun co-founder alon posted that Kimchi is the first person to truly bridge the gap between the crypto industry and popular culture, and the first case of a trader growing into a public celebrity. He represents the future direction of the industry: building a massive social trading ecosystem, attracting more retail users to enter, and growing the ecosystem to 10 times the size of the previous cycle. The next wave of users will not come from CT (Crypto Twitter), but from the broader general public. Pump.fun is delighted that Kimchi can help set the creative direction and drive the ecosystem toward the goal of 100x expansion.

reminds users that Meme coins mostly lack practical use cases, prices are highly volatile, and investment requires caution.