Hi HODLers,
Over the course of 24 hours, LUNA and LUNA Classic Tokens have shot up like crazy!
Both LUNA and LUNC shot up as almost a coordinated pump.
I will say it once again: "STAY AWAY FROM THESE SHITCOINS"!
There is so much opportunities in blue chips and well-ran projects. I am going to list a few if you lack ideas:
- Ethereum
- Polygon, Optism, Arbitrum...
- HIVE!!!
- Uniswap, ImmutableX, Curve, Aave...
Reason for the pump?
LUNC has also surged as traders got excited about a new burn scheme that would reduce the token’s hyperinflated supply, as CoinDesk reported Thursday. The rally has somewhat stalled since then, as the coin slid 17% in the past day.
From $2 to $6/$7 in such a short time period just show how manipulated and speculative this "shit"coin is!
No better sum-up of the situation than what Route 2 Fi wrote:
Reason for LUNA Classic's Pump?
According to LuncStaking_Bot, users have staked more than 610 billion LUNC with Terra Classic against its net supply of 6.9 trillion units.
It means that nearly 9% of the total LUNC supply is now removed from circulation.
If you ask me: Cool but nothing to make it pump that much.
Sources:
Terra’s LUNA Token Gains 200% in a Few Hours Amid Speculative Frenzy; Coindesk
Here’s why Terra Classic price has soared by 250% in September; Cointelegraph