LUNA 2.0 Suffers Significant Price Correction Hours After Launch

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	17,484,322,954	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

17,484,322,954

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.01112	-8.35%	0.12201	0.12199	0.12202

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.01112

-8.35%

0.12201

0.12199

0.12202

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.13381	0.11984	0.13319	0.13313	0.055475 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.13381

0.11984

0.13319

0.13313

0.055475 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:52:32	385.30	0.12201	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

17:52:32

385.30

0.12201

USD

Price x Volume	Volume	Base Symbol	Related Pairs
75,368,478.91	602,702,280.96	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

75,368,478.91

602,702,280.96

LUNA 2.0 Suffers Significant Price Correction Hours After Launch

30/05/2022 10:00pm

NEWSBTC

The recovery plan for Terraform Labs’ stablecoin TerraUSD (UST) and its native token Terra (LUNA) embarked on a bumpy route after the LUNA 2.0 cryptocurrency suffered a substantial market fall hours after its launch. TerraForm Labs successfully delivered new LUNA coins to market participants holding LUNA Classic (LUNAC) and TerraUSD (UST). According to data from cryptocurrency exchange Bybit, LUNA began trading at $0.5 and quickly rose to a high of $30 before dropping by more than 88% to $3.5. Related Reading | Cryptocurrency Spams Grow By Over 4000% In The Last Few Years LUNA 2.0 Price Surged 5,900% On Saturday, May 28, the LUNA price surged 5,900% to a new all-time high of $30. Unfortunately, this spectacular rise was short-lived. The price soon reversed and dropped 88%, resulting in a swing low of $3.50. LUNA 2.0’s price increased quickly after it hit $3.5, reaching $10.22 before staying at $6 for the last two days. As this coiling up continues, there is a good chance that Terra bulls may come together and cause a big rally. People are bullish on LUNA because assets usually go back to their average after a big move. LUNA’s price went down 88% recently. But it will probably go back up just as quickly because the decline was so sharp. Although, some members of the Terra community speculated that LUNA 2.0 would cost between $30 and $50 when it was released. Therefore, investors are outraged by the current price movement. Due to Terra’s LUNA and UST death spiral, they continue to suffer losses. Due to Saturday’s airdrop, the LUNA 2.0 price is consolidating below the middle of the newly formed trading range. As a result, investors should be patient before opening new trading positions and wait for a directional bias to develop. Do Kwon Blamed For Market Crash Do Kwon has been the center of attention since the fall, with some in the crypto community blaming him for the market crash. He faces accusations that he engaged in fraud leading up to Mirror Protocol, too! LUNA continued to lose money after the collapse, with its market capitalization slipping below $1 billion. But surprisingly, the crash sparked interest in LUNA, with Google search popularity ratings skyrocketing. Related Reading | Undervalued Metaverse Project Mars4 Is Preparing for New Releases The collapsed token became popular because some people were very optimistic and put in more money. This made the token’s price go up quickly. But according to market analysts, the interest in the token was due to the hope that it would be like other meme coins, like Dogecoin. According to Do Kwon’s original plan for a new blockchain, the aftermath of the UST peg failure was an opportunity to come up afresh from the ashes. Featured image from Flickr, and the price chart from Tradingview

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DOGEUSD Dogecoin