Solana Meme Coin Kimchi Crosses $40 Million Market Cap in First Hour

Solana meme coin Kimchi crossed a $40 million market capitalization within an hour of launch, drawing attention to the speed at which a new token’s value can change.

Its market cap later stood at $38.71 million, with $23.7 million in trading volume. The later figure put Kimchi below the $40 million level it had reached during its first hour.

Pump.fun co-founder alon described the trader Kimchi as someone who had crossed from crypto trading into popular culture. He said the next wave of users would come from beyond Crypto Twitter and outlined a vision for a broader social trading ecosystem.

Meme coins often have little practical use and can experience sharp price swings. Kimchi’s change in market cap shortly after launch illustrates that volatility.