Jim Cramer, CNBC host, has advised investors to refrain from purchasing shares of Circle Internet, the stablecoin issuer, citing an overheated stock price. Circle's stock surged 168% from $31 to $69 following its debut, with its valuation skyrocketing from $5.5 billion to approximately $25 billion in weeks. Cramer suggests waiting for better buying opportunities due to the company's ties to the volatile cryptocurrency market. Cramer also highlighted Circle's stablecoin, USDC, as a more transparent and standardized option compared to Tether, backed by real currency reserves. He cautioned that the current IPO market is becoming frenzied, urging investors to exercise caution.