BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

MUNGER Coin Pumps 31,000% Post-Munger’s Death, Dumps 98% Afterward

BlockNews.com Team by BlockNews.com Team
November 30, 2023
in BREAKING NEWS, CRYPTO, FEATURED
Reading Time: 3 mins read
1
SHARES
19
VIEWS
Share on XShare in TelegramShare on Reddit
  • The just-created MungerCoin memecoin surged after Charlie Munger’s death but quickly crashed, highlighting the investing legend’s wariness of crypto
  • Munger was a vocal Bitcoin and crypto critic, calling them “contrary to the interests of civilization” before his death at 99
  • MungerCoin’s pump and dump showed the risks of speculative memecoins, as regulators warn about anonymous projects designed for quick profits

The recently deceased billionaire Charlie Munger was an outspoken critic of cryptocurrencies like Bitcoin. So when a new memecoin called “MungerCoin” suddenly appeared and surged in value after his death earlier this week, many saw it as a final joke at the investing legend’s expense. But the rise and fall of MungerCoin also highlights the risks of putting money into anonymous crypto projects.

MungerCoin Appears and Spikes After Munger’s Death

Just a day after Munger’s death on February 14, a cryptocurrency called MungerCoin materialized on decentralized exchanges. The previously unknown token, which featured an unflattering cartoon of Munger’s face, quickly jumped in price as speculators piled in.

🚨 NEWS: Memecoin $MUNGER surges 31,000% post-Charlie Munger's death.

It plummeted 98% shortly after.

— BlockNews.com (@blocknewsdotcom) November 30, 2023

At its peak, MungerCoin hit a market capitalization of over $30 million. But the memecoin’s rally was short-lived. Within hours, it had crashed back down as holders rushed to cash out and take profits. The token now trades at a fraction of a penny, with its anonymous creators having disappeared.

Munger Was Highly Skeptical of Crypto

The launch and pump of MungerCoin was likely intended as a final trolling of the investing legend. Munger was Warren Buffett’s longtime business partner and an outspoken critic of cryptocurrencies before his death at age 99.

He had slammed Bitcoin as “contrary to the interests of civilization” and criticized crypto for producing “nothing.” Munger said in 2018 that trading cryptocurrencies was “just dementia.”

The anonymous creators of MungerCoin clearly wanted to poke fun at Munger’s antipathy towards crypto one last time. But the episode also demonstrates the risks of speculative, anonymous crypto projects.

Memecoin Frenzy Highlights Crypto’s Risks

Thousands of altcoins like MungerCoin have launched in recent years, aiming to capitalize on hype and media attention. Most turn out to be “pump and dump” schemes, where creators hype up tokens before cashing out.

Regulators have increasingly warned traders over the risks of memecoins and altcoins launched anonymously. With no team or company backing them, most projects fold after the initial spike.

MungerCoin’s launch and instant crash after Munger’s death served as the perfect illustration of these projects’ speculative and unpredictable nature. And it showed that even the recently deceased can still be dragged into crypto’s chaos.

Oddity in the Crypto World

The strange saga of MungerCoin was a fitting tribute to Charlie Munger’s legacy of crypto skepticism. Its anonymous creators managed to honor Munger’s critiques by demonstrating just how irrational the crypto markets can be. While MungerCoin provided a final laugh for some crypto speculators, it was also a cautionary tale about putting hard-earned money into digital tokens created as jokes.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Charlie MungermungercoinRugpull
TweetShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

HBAR Struggles as Social Buzz Fades and Smart Money Pulls Back
CRYPTO

HBAR Struggles as Social Buzz Fades and Smart Money Pulls Back

September 3, 2025
SEI Holds Steady but Faces Bearish Pressure Ahead
CRYPTO

SEI Holds Steady but Faces Bearish Pressure Ahead

September 3, 2025
Hyperliquid Battles Whale Shorts as HYPE Struggles Near $40
CRYPTO

Hyperliquid Battles Whale Shorts as HYPE Struggles Near $40

September 3, 2025
Shiba Inu’s Top 10 Wallets Hold Over 60% of Supply
CRYPTO

Shiba Inu’s Top 10 Wallets Hold Over 60% of Supply

September 3, 2025
Toyota and Avalanche Team Up for Blockchain-Powered Robotaxis
CRYPTO

Toyota and Avalanche Team Up for Blockchain-Powered Robotaxis

September 3, 2025
Litecoin Under Pressure But Quietly Building Momentum
CRYPTO

Litecoin Under Pressure But Quietly Building Momentum

September 3, 2025
Load More

Related News

HBAR Struggles as Social Buzz Fades and Smart Money Pulls Back

HBAR Struggles as Social Buzz Fades and Smart Money Pulls Back

September 3, 2025
SEI Holds Steady but Faces Bearish Pressure Ahead

SEI Holds Steady but Faces Bearish Pressure Ahead

September 3, 2025
Hyperliquid Battles Whale Shorts as HYPE Struggles Near $40

Hyperliquid Battles Whale Shorts as HYPE Struggles Near $40

September 3, 2025
Shiba Inu’s Top 10 Wallets Hold Over 60% of Supply

Shiba Inu’s Top 10 Wallets Hold Over 60% of Supply

September 3, 2025
Toyota and Avalanche Team Up for Blockchain-Powered Robotaxis

Toyota and Avalanche Team Up for Blockchain-Powered Robotaxis

September 3, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews