Project Kimchi Market Cap Falls More Than 98% After Alon Removes Repost

Project Kimchi’s market capitalization fell more than 98% from a brief peak near $15 million to about $284,000 after Pump.fun co-founder Alon removed a repost promoting the meme coin. The token reached its brief peak after Alon reposted a promotion from crypto trader Kimchi. The market snapshot also showed about $9.3 million in trading volume over the previous 24 hours. The promotion included a QR code directing users to Project Kimchi. After Alon removed the repost, Kimchi deleted the original post and removed “pumpfun” from his profile.