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?
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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
Luna price currently increasing rapidly. Where investors have no reliance. The Lunc token has been increasing for a few days only to be reduced by the Luna burn mechanism. With this news, the price of Luna increased significantly,still growing. But at any moment a major obstacle may come. Since the price of Luna has been increasing for several days. However, the coin may turn into 1 cent due to its hype.