Posted 11/29/2023, 6:35:58 PM
Munger Meme Coin Spikes 31,000% After Death, Then Crashes as Critics Decry 'Worthless' Cryptos
- Charlie Munger meme coin (MUNGER) spiked over 31,000% shortly after his death was announced
- The token has since fallen to be worth just a fraction of a penny, but saw $3.57 million in trading
- Munger was a longtime crypto/Bitcoin critic, calling them "worthless" and "no good"
- Meme coins often capitalize on news events to spike speculative interest
- However, many meme coins are "rug pulled" by anonymous creators who steal investors' money