Solana Trader Kimchi Withdraws $6.43 Million in PUMP as Namesake Token Hits $40 Million

Solana trader Kimchi withdrew 1.35 billion PUMP tokens valued at $6.43 million over three hours, while a token bearing his name briefly reached a $40 million market value. Kimchi held 75.32% of the namesake token’s total supply. The withdrawal involved PUMP, while the $40 million valuation applied to the separate Kimchi token; the two figures describe different assets and should not be read as the value of the withdrawn PUMP. His stake amounted to more than three-quarters of the namesake token’s supply.