We study the implications of the experimental results on the $\ensuremath{\mu}\ensuremath{\rightarrow}e\ensuremath{\gamma}$ decay rate and the muon anomalous magnetic moment on muonic lepton flavor violating processes, such as $\ensuremath{\mu}\ensuremath{\rightarrow}3e$ and $\ensuremath{\mu}N\ensuremath{\rightarrow}eN$. We use a model-independent approach in this analysis, where these processes are considered to be loop induced by exchanging spin-$1/2$ and spin-0 particles. We explore two complementary cases---those with no cancellation mechanism in amplitudes and those with an internal (built-in) cancellation mechanism. Our main results are as follows: (a) Bounds from rates are used to constrain parameters, such as coupling constants and masses. These constraints can be easily updated by simple scalings, if the experimental situations change. (b) The muon $g\ensuremath{-}2$ data favors nonchiral interactions. (c) In $\ensuremath{\mu}\ensuremath{\rightarrow}3e$ and $\ensuremath{\mu}N\ensuremath{\rightarrow}eN$ processes, $Z$-penguin diagrams may play some role, while box diagram contributions to $\ensuremath{\mu}\ensuremath{\rightarrow}3e$ are usually highly constrained. (d) In the first case (without any built-in cancellation mechanism), using the recent $\ensuremath{\mu}\ensuremath{\rightarrow}e\ensuremath{\gamma}$ bound, we find that $\ensuremath{\mu}\ensuremath{\rightarrow}3e$ and $\ensuremath{\mu}N\ensuremath{\rightarrow}eN$ rates are usually bounded below the present experimental limits by two to three orders of magnitude in general. Furthermore, by comparing $\ensuremath{\Delta}{a}_{\ensuremath{\mu}}$ and $\mathcal{B}(\ensuremath{\mu}\ensuremath{\rightarrow}e\ensuremath{\gamma})$ data, the couplings of $\ensuremath{\mu}$ and $e$ are found to be highly hierarchical. Additional suppression mechanisms should be called for. (e) In the second case (with a built-in cancellation mechanism), mixing angles can provide additional suppression factors to satisfy the $\ensuremath{\Delta}{a}_{\ensuremath{\mu}}$ and $\mathcal{B}(\ensuremath{\mu}\ensuremath{\rightarrow}e\ensuremath{\gamma})$ bounds. While the $\ensuremath{\mu}\ensuremath{\rightarrow}3e$ rate remains suppressed, the bounds on $\ensuremath{\mu}N\ensuremath{\rightarrow}eN$ rates, implied from the latest $\ensuremath{\mu}\ensuremath{\rightarrow}e\ensuremath{\gamma}$ bound, can be relaxed significantly and can be just below the present experimental limits.