The Solana-based meme coin Kimchi saw its market capitalization fall from $40 million within its first hour after launch to $21.51 million as of early October 22. A major investor who put in $144,000 when the market cap was $33.7 million is currently facing an unrealized loss of over $50,000. The token's creator, trader Kimchi (@kimchi1x), holds over 75% of the total supply, indicating strong concentration of ownership. The decline highlights the volatility and risk associated with new meme coins in the crypto market.
The Solana meme coin Kimchi's market cap stood at $21.51 million as of October 22. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 22, 2026 22:51 WIB: out of 50 major cryptocurrencies priced on Pluang, 4 rose and 45 fell. Notable movers include SXP (Solar) down 46.27% at Rp37 with a typical hold time of 94 days, BAL (Balancer) up 11.14% at Rp16,297 with 85 days typical hold time, and FIL (Filecoin) down 8.62% at Rp17,382 with 100 days typical hold time and 17% sell / 83% buy order activity.
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