The judgment has been made, is LUNC stunned? Understand why it can still drop 45% at a glance.
#DoKwon was sentenced to 15 years in prison, harsher than the market expected, and emotions reversed instantly. Once the news broke, #LUNC retraced over 45% from its high this week, with a large amount of funds withdrawing, causing a market value evaporation💥.
📉 The technical aspect is also not looking good: the price has broken below the critical support level of 0.000047 (double top neckline), and the short-term trend is clearly bearish. The next line of defense is at 0.00002488, if it fails to hold, another drop of 45% is not alarmist.
But don’t rush to pass the death sentence👇
🧠 LUNC still has an active community for ongoing governance
🔥 Binance destroys tokens every month to provide underlying support
In summary: Emotional killing + technical breakdown is the core of the crash, whether it can stabilize going forward depends on community and capital attitudes.👀📊
