Terrifying Terra Classic (LUNC) Alert from Santiment: Don't Forget Dogecoin!

Terra Classic Luna (LUNC) continues to grace the headlines as it recently rose from the ashes.

Lunc News - While Terra Classic (LUNC) has recently been reborn from its ashes, it continues to grace the headlines.

LUNC and DOGE: Graphics Are Similar!

While the repercussions of the Terra crisis continue, the incredible performance of the ecosystem's tokens is on the agenda. Things took a turn for the worse after it was announced that TerraForm Labs (TFL) would launch a new token and blockchain as part of an effort to recoup investors' losses. However, communities have managed to raise token prices in different ways. Both LUNC and USTC have challenged the market, gaining over 265.8% in one month, according to Coinecko data. Crypto analytics firm Santiment has shared a report that analyzes the price movements of LUNC and DOGE over the past year. According to the report, the LUNC and DOGE chart show similarities. The chart below shows the similar structure in the current price and volume of Dogecoin and LUNC from last year.

According to Santiment, both Luna Classic and Dogecoin gained massively before entering a phase of hard consolidation. Subsequently, both altcoins experienced surprisingly massive rallies. The centimentin indicators show a similar picture. According to the report, it's not surprising to see an increase in LUNC price, as LUNC ranks first in Santiment's social trend metric. This indicates that investors' interest in the altcoin continues. According to Santiment, just like Dogecoin , LUNC could suffer a major crash. Dogecoin has dropped drastically from its all-time high of $0.73, according to Coinecko data. DOGE is currently trading at $0.064, while LUNC is trading at $0.00035768.

Critical Warning From Analyst!

The analyst, known in the market as Crypto Capo, tells his 510,000 Twitter followers that Terra Classic (LUNC) is a risky investment and investors should definitely stay away. According to the analyst, the price increase in LUNC is not up to the norm. Describing LUNC as a kind of scam, the analyst advises against investing in the altcoin due to the imminent inevitable and massive collapse. LUNA was down 99.9% in May after the ecosystem's stablecoin lost its index to the US dollar.

According to Capo's technical analysis, LUNC will experience a major crash in the coming days. However, the community continues its work without a break. The Terra Classic community plans to pass the 1.2% tax/burnout proposal that will be voted on September 10. If accepted, the 1.2% tax burn offer will be implemented on September 20.

Source: coin-turk.com