Suspicious MUNGER Token Increased by 31,000%

Dec 01, 2023
MUNGER meme coin, launched 15 minutes after the death of former Berkshire Hathaway vice chairman Charlie Munger, grew in price by 31,000% on Wednesday.

However, on Thursday, amid news about a smart contract with erroneous functions limiting the sale of an asset, the coin lost more than 98% of its value.

According to CoinMarketCap, MUNGER’s daily trading volume peaked at $3.5 million on Wednesday, but later fell to $60,000.

Recall that Munger was skeptical about cryptocurrency and believed that it contradicted the interests of civilization.

Hundreds of meme coins are created every day, but most of these coins become useless soon after launch or due to lack of interest.

According to Gecko Terminal, this smart contract had the function of being able to add the addresses of the token holders to the blacklist.