A preferred digital asset dealer and analyst is forecasting a large worth drop for a closely traded cryptocurrency.

Pseudonymous crypto analyst and dealer altcoin Sherpa tells its 183,500 Twitter followers that the unique utility token of the collapsed Luna ecosystem, Luna Traditional (LUNC), can be “destroyed.”

In response to altcoin Sherpa, it may solely purchase LUNC within the short-term, ideally when it falls to the important thing Fibonacci ranges of 0.5 (50%) and 0.618 (61.8%).

“LUNC: Nonetheless a large shitcoin, I’d solely scalp lengthy 0.50 and 0.618. Look greater for potential shorts; This may ultimately develop into Hades nuclear. Do not buy this for the long run in my view.”

Supply: AltcoinSherpa/Twitter

Regardless of the collapse of the unique Luna ecosystem, LUNC is closely traded and persistently ranks among the many prime ten most traded crypto property by quantity. On the time of writing, LUNC was the ninth most traded crypto asset, seeing roughly $745 million in buying and selling quantity over a 24-hour interval.

Within the final 30 days, LUNC is up over 120%. On the time of writing, LUNC is buying and selling at $0.000279, having risen about 121% from the $0.000126 low it hit on Aug. 31.

Altcoin Sherpa’s dire prediction for LUNC coincides with information that the founding father of the collapsed Luna ecosystem, Do Kwon, is needed by the police. In response to a current report, Interpol has issued an internationally needed individual for Kwon on behalf of the South Korean prosecutor’s workplace.

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, Crypto dealer says an altcoin that has skyrocketed 120% this month is on the verge of nuke — this is its goal

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, Crypto dealer says an altcoin that has skyrocketed 120% this month is on the verge of nuke — this is its goal

, Crypto dealer says an altcoin that has skyrocketed 120% this month is on the verge of nuke — this is its goal

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