i might be pumpfun's #1 hater, but i think there's a pretty compelling case for $KIMCHI here.
for all my criticism of the company, one thing i've never questioned is their ability to capture attention, manufacture demand, and turn both into market share.
the way i see it, $ANSEM was effectively their first test run at turning a recognizable CT personality into a memecoin with a much broader audience. and i'd be very surprised if they haven't spent the last three months studying every aspect of that launch, from the initial distribution to the PA, the marketing, and ultimately where things went wrong.
now they're running a much more ambitious version of the same playbook.
$ANSEM launched with around 60% of the supply controlled, while $KIMCHI started at 75%. looking at the first two candles, i suspect the actual supply control is even higher. that obviously comes with considerable risks, but it also means the effective float is exceptionally thin, somewhere around $2M
obviously that can end very badly if the wrong wallets start selling. but if the intention is to run this substantially higher and onboard normies, they've given themselves a damn good setup.
and unlike Ansem, Kimchi has an audience that extends beyond CT. whether we like it or not, he's become a recognizable face of memecoin trading to an entirely different demographic.
which brings me to the interesting part. pumpfun is clearly trying to make Kimchi the face of its next wave of retail onboarding. they're putting him on billboards, running ads around him, and selling millions of people the dream of becoming the next Kimchi. their entire marketing campaign revolves around this one guy.
i find it hard to believe they'd spend millions building a campaign around him, maintain a direct relationship with him, and somehow be completely indifferent to what happens to the coin associated with him. especially when a successful run would arguably do more to sell that dream than any billboard ever could.
i still think pumpfun is terrible for the space. i also think they're very good at what they do.
sometimes the best trades are the one that forces you to put your own biases aside.