Memecoin Crashes Over 95% After Posts Deleted, Sparking Rug Pull Fears
Key Highlights The Kimchi memecoin experienced an aggressive crash, losing more than 95% of its market capitalization after briefly peaking near $14 million. Blockchain analytics service Lookonchain uncovered that the crypto phenomenon Kimchi posted about the token immediately after receiving a transfer of 500 million Kimchi tokens. PumpFun co-founder Alon amplified the social visibility of ...