I am fairly new to crypto and in July I took a gamble on terra luna classic when it was 0.00009 and it is now pumping. Can someone explain why this is and what the chances of it lasting are?
I have been following it more closely over the last week as it has began getting more and more attention and apparently a lot is happening over the next few weeks which is driving the price up currently but not sure what it all means?
~snip~
Current pump maybe because the community proposes burning LUNC and I see that MEXC held Burning events to support the community proposal. So this pump won't last long I guess since the market still not recovering. If the burn mechanism keep continues then $0.01 is not impossible to reach and it's only a matter of time
This is why I feel not to take any profit just yet. I feel the potential rewards outweighs the risk currently, especially as I do not have much invested.
I will stick with my plan and cash out half my investment at 0.0005 and see what happens from there.