Between November 28 and November 29, the MUNGER token, which is traded on the Uniswap exchange, grew by more than 31,000%, according to DEX Screener. This happened against the backdrop of news of the death of Berkshire Hathaway vice president and famous investor Charlie Munger.
The chart shows that the token began trading on November 28th. In the following hours, its value jumped to $0.00000165 at its peak. On November 29, the price of MUNGER began to decline sharply and lost more than 98% of its value. At the time of writing, the asset is trading near $0.0000000262.
According to information CoinMarketCapOn November 28, MUNGER’s daily trading volume peaked at $3.5 million, but has since fallen to less than $60,000. At the time of writing, the total asset liquidity does not exceed $13,500.
Update: I was rugged by Munger coin. I consider this a pro rata distribution to the virtuous (RIP Charlie) https://t.co/jBFW16WFHj
— HDIZZY ~ 197 IQ (Gobby Grinch Arc) (@CyberRevolt12) November 29, 2023
According to the platform GeckoTerminal, the MUNGER token received a negative assessment and was blacklisted. Its creators were suspected of creating smart contracts that made it possible to limit the sale of an asset.
Recall that the famous investor and cryptocurrency skeptic Charlie Munger died at the age of 99. Previously, he has repeatedly criticized crypto assets, emphasizing their speculative nature.
In recent months, there have been several memcoins that have seen sharp increases in value and then dropped in value.
Source: Cryptocurrency
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