The short version
- The Kimchi coin price fell to a $6.2 million market cap, down 46% in 24 hours and 87% below its $47.7 million peak on October 21, after breaking the $9.85 million support.
- Kimchi’s wallet still holds all 750 million KIMCHI (75.3% of supply) and has sold nothing, so the drop comes from smaller holders leaving as daily volume fell 95% from the first day.
- The crew is watching today’s $5.31 million low, the $7.2 million level to reclaim, and Kimchi’s wallet, because any selling from it would hit a $270,000 pool.
The Kimchi coin price has gone from a celebrity launch to a slow bleed in four days. The KIMCHI memecoin, a Solana token tied to Pump.fun’s new star trader, sits at a $6.2 million market cap at the time of writing. That’s down 46% in 24 hours and 87% below its $47.7 million peak on October 21.
When we looked at it early on Friday, the coin was at $11.9 million and $9.85 million was the floor to watch. That floor is gone. The backstory is in our first piece, Pump.fun’s Kimchi Coin Is Down 75% From Its Peak: Who Made Money?, and today the question flips. If the wallet holding three quarters of the supply hasn’t sold, who is selling?
This is how Pump.fun co-founder Alon Cohen pitched the Pump.fun Kimchi partnership on Tuesday night:
Kimchi is the first person to truly cross the chasm between crypto and pop culture; the first ever example of a trader becoming a celebrity.
He represents exactly where we’re heading: a massive social trading ecosystem that onboards retail and grows to 10x the size we were last
Why Is the Kimchi Coin Price Still Falling?
Because the buyers left. KIMCHI traded $32.5 million in its main pool on October 21, its first full day. On October 23 it traded $2.7 million, and the last 24 hours brought just $1.5 million, GeckoTerminal data shows.
With little new money coming in, every small seller moves the price. Sellers outnumbered buyers 4,820 to 4,111 over the last day. The holder count fell from 24,209 on Friday morning to 22,430, so about 1,800 wallets have walked away. The pool itself got thinner too: liquidity dropped from about $377,000 to $270,000.
The break came early on October 23, when the Kimchi coin price fell through $9.85 million at 05:00 UTC. A bounce to $12.6 million faded by that afternoon, and KIMCHI hasn’t closed an hour back above the level since 17:00 UTC on Friday. Nobody has stepped in.
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Has Kimchi Sold Any KIMCHI Tokens?
No. The wallet Pump.fun and Solscan label as Kimchi’s, Gs5FHw…GYeX, still holds 750,061,123 KIMCHI, or 75.3% of the supply, on-chain records show at 15:10 UTC. That is the same 750 million the deployer sent it a minute after launch, plus a little dust.
So the paper fortune in the Kimchi wallet is shrinking without a single sale. At the October 21 top, that stack was worth about $35.8 million. At today’s price it’s about $4.6 million. Pump.fun’s ecosystem account bragged that Kimchi “MADE $32,000,000” 30 minutes after joining. That was screen value then, and the $4.6 million is screen value now.
The rest of the supply looks just as concentrated. The top 10 wallets hold 81.4% of KIMCHI, up from 80.2% on Friday, because smaller holders are the ones leaving.
The people who did cash out did it early:
- The deployer that minted the coin holds no KIMCHI at all now. It sold its leftover 43.1 million tokens in the first hours for an estimated $26,000 profit.
- Three linked sniper wallets bought $7,332 of KIMCHI in the first minute and sold it for $111,748 within nine minutes, Bitquery found. It couldn’t link them to Kimchi or to the deployer.
- Kimchi’s wallet keeps collecting a creator fee on every trade. With daily volume down 95% from the first day, that stream is a trickle now.
Everyone else is a buyer who came in after the ad. In other words, KIMCHI is a textbook case of exit liquidity: the late buyers paid the early ones, and the biggest holder hasn’t had to do anything.
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Kimchi Coin Price Analysis: Where Is Support Now?
Only today’s low at $5.31 million. Below that, KIMCHI has no trading history outside its first minutes on the bonding curve. The old $9.85 million floor is now a ceiling, and every bounce since Friday has stopped lower than the last.
- In the bull case, a reclaim of $7.2 million, the level that held most of Saturday morning, would be the first sign the selling is drying up.
- In the base case, KIMCHI drifts between $5.31 million and $7.2 million as volume keeps fading.
- In the bear case, losing $5.31 million leaves the price with nothing below it, and a thin $270,000 pool under a 75.3% wallet.
EXPLORE: Support and Resistance in Plain English: Floors, Ceilings and Why They Work
The chart matters less than one address. As long as Kimchi’s wallet sits still, the drop is everyone else giving up. If it ever moves, the $5.31 million low won’t mean much.
On the climb since 2017. Trades futures and reads onchain data. Automates the boring parts.
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