Quote from: BobK71 on Today at 07:35:29 PM

Quote from: LastKiss on September 06, 2022, 01:38:34 PM

Quote from: JamesDaniel90 on September 05, 2022, 11:21:33 PM

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

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.

Absolutely wont last. Good thing they found a burning mechanism but still it won't be sustained. It might get into a cent but that's still hard considering how huge the supply is and the number of supply that needs to be burnt.
Another things is that, people already have trust issues with this project. Only those who have profited might gonna stay, but for those who have lost a huge chunk of capital, they'll probably not going to risk it again.