The Most Memeable Cat on the Internet Just Migrated — And the Supply Squeeze Already Caused a 325% Price Surge
$michi has officially moved to a new contract on PumpSwap. The 90-day claim window runs until June 8, 2026. Wait too long and you pay a 5% penalty. Here’s the complete migration guide for one of Solana’s most iconic cat tokens.
Go to the official migration claim tool
Visit https://migrate.fun/claim/mig139
If you’ve spent any time in Solana’s meme coin ecosystem, you know michi.
Not because of its technology. Not because of its whitepaper. Because of the cat. The endlessly remixable, infinitely memeable feline face that became one of the most recognisable images in all of crypto Twitter — spawning thousands of custom michi memes through the Michi Meme Maker, decorating profile pictures from Tokyo to São Paulo, and building one of Solana’s most devoted cat-token communities from scratch.
That community just went through one of the most dramatic migration events in recent Solana history — and the aftermath tells you everything about why this migration matters for anyone still holding old $michi.
On March 10, 2026, the michi migration deadline hit. A significant portion of old $michi holders either missed the window, chose not to swap, or simply never saw the announcement. The result was a permanently reduced circulating supply on the new token — and the market noticed. In a single day, the new MICHI token surged 325%, driven by one of the most violent supply squeezes of the Solana meme season.
The migration is not over. A 90-day claim window runs until June 8, 2026 at 1PM EST. After that date, there is no migration path. But there is a catch: late migrations during this 90-day window come with a 5% penalty on your conversion.
If you’re still holding old $michi — the token listed as “michi [OLD]” on CoinGecko — this article is your complete playbook.
Migration Details: Everything Confirmed
Detail Information Old token $michi (old contract) New token MICHI (new contract on PumpSwap) Chain Solana Old contract 5mbK36SZ7J19An8jFochhQS4of8g6BwUjbeCSxBSoWdp New contract AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump Migration platform PumpSwap 90-day window deadline June 8, 2026 at 1:00 PM EST Late migration penalty 5% deduction on tokens received Official Twitter @michionsolana
Key warning: You are already in the late migration window. Every day you wait, you are choosing to accept the 5% penalty. Migrate as soon as possible to minimise what you lose.
What Is michi — and Why Does This Cat Have a $322M ATH?
For context on why this migration matters, you need to understand what michi built.
michi launched on Solana as a meme token backed by one of the most recognisable cats on the internet. The Michi cat image — a round-faced, wide-eyed feline with endlessly expressive possibilities — became a viral template for crypto meme culture. The project launched the Michi Meme Maker, a tool that lets any user create custom michi images — fuelling a self-sustaining content flywheel where holders became the marketing team.
The results were extraordinary by meme coin standards. michi reached an all-time high market cap of $322 million in May 2024, with the token price hitting $0.58. At its peak, michi was one of the most discussed cat tokens on all of Solana, trading on Kraken, Raydium, and Orca with deep liquidity and a global holder base.
The ATH was May 2024. Since then, like most Solana meme tokens through the 2025 bear phase, michi gave back the majority of its gains. The old $michi contract now trades at a fraction of its peak — but the community survived, and the migration is the project’s statement that it is rebuilding for what comes next.
The March 10 Migration and the 325% Supply Squeeze
Understanding what happened on March 10, 2026 is essential context for anyone who hasn’t migrated yet — because it shows exactly what the market does when supply is permanently reduced by incomplete migrations.
When the initial michi migration window closed on March 10 at 1PM EST, a significant portion of old $michi holders had not swapped to the new contract. These unmigrated tokens were effectively locked out of the new ecosystem — permanently reducing the circulating supply of new MICHI below what anyone expected.
The market reacted immediately. In a single 24-hour period:
New MICHI surged 325% from its pre-migration levelsTrading volume hit its highest point of the yearThe Awesome Oscillator crossed above zero for the first time since October 2025Holder Sentiment spiked to 53.67 — a level of conviction rarely seen after a 99% drawdown
The mechanics are straightforward: fewer tokens in circulation means each remaining token represents a larger share of the total. When incomplete migrations permanently reduce supply, it creates an immediate and severe supply-side squeeze on the new token. Early migrators were rewarded. Late holders were diluted.
The 90-day extended window exists precisely because the team recognised that many legitimate holders simply missed the initial deadline — not because they abandoned the project, but because token migration announcements don’t always reach every wallet holder. The penalty structure acknowledges this: you can still migrate, but you pay 5% for the privilege of the extended window.
The 5% Late Migration Penalty: What It Means in Practice
The penalty is real and it compounds the longer you wait — not because the penalty increases, but because your opportunity cost grows every day you hold old $michi instead of new MICHI.
Here’s what the 5% penalty means concretely:
If you hold 100,000 old $michi and migrate during the 90-day window:
You receive 95,000 new MICHI (5% penalty applied)You lose 5,000 MICHI tokens compared to what early migrators received
If you hold 1,000,000 old $michi:
You receive 950,000 new MICHIYou lose 50,000 MICHI tokens to the penalty
The penalty is a one-time flat fee for migrating late — it doesn’t compound daily. But the longer you stay in old $michi, the more you miss out on new MICHI’s price action, which has been significantly more active since the migration.
The simple calculation: The 5% penalty is the known, fixed cost of migrating now. The cost of not migrating is potentially your entire position as old $michi liquidity drains and June 8 approaches.
Migrate now, accept the 5% penalty, and be in the correct token before the June 8 window closes permanently.
Old $michi vs. New MICHI: What’s Actually Different?
The old $michi contract (5mbK36SZ7J19An8jFochhQS4of8g6BwUjbeCSxBSoWdp) and the new MICHI contract (AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump) represent two different liquidity ecosystems.
Old $michi:
Still trading on Raydium with some residual liquidityListed on CoinGecko as “michi [OLD]” — clearly marked as deprecatedNo new development, no team support, no exchange listing activityLiquidity draining as more holders migrateCoinMarketCap notes the migration to the new contract
New MICHI:
Migrated to PumpSwap — pump.fun’s native DEX infrastructureNew contract: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpumpReduced circulating supply due to incomplete early migration (bullish supply dynamic)Active trading and volume following the March 10 surgeThe token the team, community, and future development is behind
The CoinMarketCap data confirms 264 million circulating $MICHI on the new contract — dramatically lower than the 999 million total supply of the old token, reflecting the supply squeeze effect of the migration.
Step-by-Step: How to Claim Your New MICHI
The michi team set up a migration claim system for the extended window. Here is the complete guide.
What you need before starting:
Old $michi tokens in a Solana wallet (Phantom, Solflare, or Backpack)A small amount of SOL for the transaction fee — 0.01 SOL is sufficientYour wallet unlocked
Step 1: Go to the official migration claim tool
Visit @michionsolana on Twitter/X and find the official migration claim link pinned to their profile. The team posted the claim link alongside the announcement:
“a new chapter starts now. michi has officially migrated to pumpswap! a 90-day claim window will run until june 8th, 1pm est. late migrations are available with a 5% penalty during these 90 days.”
The official claim tool is the only safe migration path. Do not use any third-party sites.
Step 2: Verify the new MICHI contract address
Before connecting your wallet to anything, verify the new contract address from @michionsolana’s official announcement:
New MICHI: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump
Cross-check this against CoinMarketCap and CoinGecko’s new MICHI page. All sources must show the same address.
Step 3: Connect your Solana wallet
Connect Phantom, Solflare, or Backpack to the official claim interface. The connection reads your old $michi balance to calculate your MICHI claim amount (after 5% penalty).
Step 4: Review your claim amount
The interface will show:
Your old $michi balanceThe MICHI you’ll receive (balance × 0.95 due to 5% penalty)The transaction fee in SOL
Review this carefully before confirming.
Step 5: Execute the migration claim
Confirm and sign the transaction. Your old $michi will be burned and new MICHI will be issued to the same wallet address in a single atomic transaction.
Step 6: Add new MICHI to your wallet
If MICHI doesn’t auto-appear, manually add it: New MICHI contract: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump
Total time: Under 5 minutes. Total cost: Transaction fee (< $0.01 SOL) + 5% token penalty. Deadline: June 8, 2026 at 1:00 PM EST. After this, no migration path exists.
Security: Protecting Yourself During the Migration
Every major Solana token migration generates scam activity within hours. The michi migration is no exception — and with the cat token’s loyal community, scammers know exactly who to target.
✅ Only use the official claim link from @michionsolana. Find it from the official Twitter/X profile directly. Type the URL manually. Never click links from DMs, Telegram groups, or Discord.
✅ Verify both contract addresses before approving anything:
Old: 5mbK36SZ7J19An8jFochhQS4of8g6BwUjbeCSxBSoWdpNew: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump
✅ The real team will never DM you. Anyone messaging you first to “help with your michi migration” is running a scam. Block them.
✅ Search by contract address, not ticker. There will be fake “MICHI” tokens with the same name. Always use the exact contract address from official sources.
✅ Check that the claim site URL matches official @michionsolana posts exactly. Common scam patterns include “michi-claim.xyz”, “michimigrate.io”, or similar fake domains.
Why June 8 Is a Hard Deadline
Unlike some migrations that extend their windows indefinitely, the michi team announced a fixed 90-day window from the March 10 migration date — ending June 8, 2026 at 1:00 PM EST.
After June 8, there is no stated extension, no claims mechanism, and no official migration path. Old $michi tokens will still technically exist on-chain, but:
The project has no obligation to provide a migration pathNew MICHI liquidity will have fully consolidated away from the old tokenAny remaining old $michi liquidity will be negligible and illiquidThere will be no Kraken, Raydium, or exchange support for the old contract
The June 8 deadline is the end of the line. If you miss it with old $michi in a self-custody wallet, your options narrow to trying to sell into the thin residual liquidity of the old contract — at whatever price the market offers for a deprecated token.
The 5% penalty to migrate now is significantly better than the effective 100% loss that comes from holding a worthless deprecated token after June 8.
The Bigger Story: Why michi Survived a 99% Drawdown
Most Solana meme tokens that peak at $300M+ in market cap and then fall 99% never come back. The team disappears, the Discord goes quiet, and the token slowly drains to zero.
michi didn’t follow that script.
The community stayed active through the entire 2025 bear phase. The Michi Meme Maker continued generating content. The cat imagery remained culturally resonant — because good memes don’t expire. And when the migration launched in early 2026, enough of the community mobilised that the resulting supply squeeze created one of the biggest single-day moves of the Solana meme season.
That resilience is unusual. In a market where thousands of tokens are launched and abandoned every week, a token that survives a 99% drawdown with an active community and a functional migration is worth paying attention to.
The move to PumpSwap as the new home for MICHI liquidity is also strategically significant. PumpSwap is pump.fun’s native DEX — meaning MICHI is positioned within the most active meme token trading ecosystem on Solana, with direct access to the most active meme token buyers on the network.
For a cat meme token, that’s exactly where you want to be.
Where New MICHI Trades
Following the migration, new MICHI is actively trading on:
Centralised exchanges:
Kraken — listed with active trading (the old $michi was listed here, confirm new MICHI listing status via Kraken’s announcements)
Decentralised exchanges (Solana):
PumpSwap — primary DEX liquidity, integrated with pump.fun’s ecosystemRaydium — active trading pairsOrca — additional DEX liquidity
Portfolio tracking:
CoinMarketCap: search “michi (SOL)” — new contract listedCoinGecko: “michi” new token page (separate from “michi [OLD]” page)
Frequently Asked Questions
What is the deadline to migrate without a penalty?
That window has already closed — it ended March 10, 2026. You are now in the 90-day late migration window with a 5% penalty. This window closes June 8, 2026 at 1:00 PM EST.
What is the late migration penalty?
5% of your old $michi balance. If you hold 100,000 old $michi, you receive 95,000 new MICHI.
What are the official contract addresses?
Old $michi: 5mbK36SZ7J19An8jFochhQS4of8g6BwUjbeCSxBSoWdpNew MICHI: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump
What happens if I miss June 8?
No official migration path after the deadline. Old $michi becomes a deprecated token with no team support and draining liquidity.
What wallet do I need?
Any Solana wallet: Phantom, Solflare, Backpack, OKX Wallet.
Is the new MICHI trading on Kraken?
Verify current Kraken listing status via Kraken’s official announcements — the old $michi was listed on Kraken, check if the new contract is supported.
Why did MICHI surge 325% on March 10?
The incomplete migration reduced the circulating supply of new MICHI significantly below expectations, creating an immediate supply squeeze that the market repriced sharply upward.
✅ Claim Your New MICHI Before June 8, 2026
Official contract addresses (verify before use):
Old $michi: 5mbK36SZ7J19An8jFochhQS4of8g6BwUjbeCSxBSoWdp
New MICHI: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump
Where to claim:
👉 @michionsolana on X — Official migration claim link in pinned post
What you need:
Old $michi in a Solana wallet (Phantom, Solflare, Backpack)0.01 SOL for gasUnder 5 minutes
Migration steps:
Find the official claim link from https://migrate.fun/claim/mig139Connect your Solana walletReview your claim amount (old $michi × 0.95 after penalty)Sign the single transactionAdd new MICHI contract to your wallet: AywAYdNJnSLSXwKWYxDciPjqGRnwp4iZdQptuuQTpump
Penalty: 5% of your old $michi balance Deadline: June 8, 2026 at 1:00 PM EST — no extensions stated
Final Word
michi survived something most tokens don’t: a 99% drawdown with its community intact.
The migration to PumpSwap with a new contract is the reset button — a fresh start with a reduced circulating supply, an active trading home in pump.fun’s native DEX ecosystem, and the same cat that made the whole thing possible in the first place.
The 325% surge on March 10 showed what happens when supply is squeezed and the market finally notices. The extended 90-day window gives late holders a second chance — but it comes with a 5% penalty and a hard June 8 deadline.
The cat isn’t going anywhere. But your claim to be part of the new chapter expires at 1PM EST on June 8.
Don’t be the one still holding old $michi on June 9.
Follow for Solana meme token migration alerts and real-time coverage of the most important cat-themed blockchain events of 2026. Share this with every $michi holder in your network — the June 8 deadline is closer than it looks.
Tags: #michi #MICHI #MichiCoin #TokenMigration #Solana #PumpSwap #PumpFun #SolanaMemeCoin #CatToken #Crypto2026 #Web3 #Raydium #Jupiter #MemeCoin #SolanaTokens
The Most Memeable Cat on the Internet Just Migrated — And the Supply Squeeze Already Caused a 325%… was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.