The eagerly-awaited launch of the Telegram bot Banana Gun’s native token BANANA couldn’t have gone any worse, with the price of the newly launched BANANA falling from a peak of $8.70 to $0.02 in less than 3 hours after it launched.
Some crypto users were quick to cry foul, accusing it of a “rug pull.” However, the official X account for Banana Gun instead blamed a bug in the token’s contract that the team was unable to hotfix, noting that the bug managed to get through “despite two audits.”