$LUNC has just created an earthquake with a more than 90% increase in 24 hour, climbing to the Top 2 trending despite founder Do Kwon pleading guilty.
🔹 The main driver did not come from the new but from a brutal Short liquidation. More than $5.19 million in Short liquidity was wiped out in 12 hours, surpassing both $ETH and $BTC in term of liquidation rate across trading pair.
🔸 The market is reacting counter intuitively ahead of the December 11 verdict. Instead of dumping bad new, speculative money is betting on the Attention Economy returning to the Terra ecosystem.
🔹 On chain activity exploded with weekly token burns surpassing 427 billion LUNC. Terraform Lab alone contributed 58% of the burn, creating pressure to reduce the actual supply.
🔸 LUNC has broken the downtrend channel that has been in place since February. The Cumulative Volume Delta indicator is positive at over $41 million, indicating aggressive buying.
However, the price is facing a reaction at the July peak ($0.00007088). Bulls need to maintain buying power to avoid a Bull Trap scenario before the December 11 verdict.
Do you think this rally is a real revival or just a final pump and dump following the Do Kwon new?
Follow Trading Insight_Research for updates on further movements. News and information are for reference only, not investment advice. Please read carefully before making a decision.
