The Implosion of a Meme Coin and Charlie Munger's Wisdom on Crypto

The MUNGER token, launched shortly after Charlie Munger's death, experienced a massive surge in value, increasing by 31,000%. However, the Ethereum-based meme coin has since crashed by 97.6%, now valued at $0.00000002856. Its market capitalization has plummeted to just over $18,000, and liquidity has evaporated to around $13,000. Market activity has also collapsed, with only $23,000 worth of MUNGER traded in the last 24 hours. This volatile pump-and-dump pattern is common for meme coins, which often inflate rapidly and then collapse quickly. Similar trends have been observed with other meme coins, such as the CZ token, which pumped 400,000% before losing 93% of its value.