Terra Luna Classic and Voyager are two projects nobody expects to attract a lot of investors anymore. Yet they're going parabolic ? Right at the bottom of one of the worst bear markets crypto's ever had ??
This is madness.
Because of the community. Go to the their reddit thread and you will see everyone saying "to the moon" and lots of bullshit reason why the price will go to $1 or $0.01 (which is almost impossible). Everyone is shilling and people are FOMOing. They recently announced burning mechanism, so people are hyped and investing in Luna classic. But most of them don't realize that enough won't be burn in few years for the price to reach $1. Most of the transactions and trading are done through centralized exchange. So no burning will take place because of offchain transactions. Do you really think a coin that literally has no utility is going to stay at the top 50?
It is such a shame that people let themselves be blinded by their almost limitless greed, just a few months ago on that subreddit the moderators had to close it because the kind of posts that were being created where all about how people were desperate and how some of them were even making attempts against their own lives, and just a few months later those very same people are hyping a coin they know cannot possibly sustain that kind of growth for the long term.