FieryTrading

🔥 LUNA Dump & Pump: How High Can We Go?

Long
BINANCE:LUNABUSD   Luna / BUSD
Everyone has seen LUNA over the last couple of days. If you don't know what happened, please read my analysis below where I explain what happened in an easy understandable way.


Two days ago, I made an analysis where I explained that LUNA could see a massive short-squeeze in the near future, see below. Although we're not seeing a short-squeeze due to shorts closing, we're seeing a huge pump due to the token inflation (=creation) being halted. LUNA is not being created anymore in order to try to peg UST to 1 dollar.


Furthermore, several exchanges have resumed trading on LUNA. Since the token lost around 99.9999% of its value, there's a huge upside potential, and investors are flocking in. Since yesterday's lows, LUNA has done a 470x!

Before the dump, LUNA's marketcap was around 30 billion. At the moment, the marketcap is around 3 billion. This means that there's still huge potential in this token, around 10x from this point, see the purple area. If the price reaches this area, LUNA would have the same marketcap as before the dump.

LUNA is blowing up on social media at the moment. So I wouldn't be surprised at all if we're going to see another 10x from here. Be aware that this token is highly volatile, so adjust to leverage and strategy accordingly.

Excited to see where this token can go!

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