Shiba Inu (SHIB) Overshadowed By Terra Luna Classic (LUNC) – Here’s What Happened

Despite Shiba Inu (SHIB) related tags constantly trending on Twitter, these strange and unusual times in crypto have seen the infamous Do Kwon’s Terra Luna Classic (LUNC) steal the spotlight from Shiba Inu (SHIB). Hashtags like #ShibaArmy, “#SHIB” and “#ShibaInu” are now constantly accompanied by  the tags “#LUNCBurn”, and “#LUNACLASSIC”. Naturally, the situation raised some eyebrows, especially among crypto enthusiasts that witnessed Terra Luna’s demise in May. Crypto analyst and social influencer David Gokhshtein has stepped in to explain the phenomenon.

Terra Luna Classic (LUNC) – The Crypto Lottery Ticket?

David Gokhshtein, the founder of Gokhshtein Media, is a profound supporter of Shiba Inu (SHIB). The crypto analyst has managed to predict Shiba Inu (SHIB) bull runs quite a few times in the past, but Terra Luna Classic’s recent uptrend in social media mentions left even the experienced crypto enthusiast puzzled at first. However, Mr. Gokhshtein came up with an explanation after numerous followers repeatedly asked him the same question: “Who is actually buying Terra Luna (LUNC)?” The answer, according to Mr. Gokhshtein, is simple: gamblers.

Traders Expect an All Time High, But Is It Even Possible?

Indeed, it seems quite a few crypto influencers to see potential for a massive LUNC breakthrough: “I think we chop a few days like previous & then above the red zone, we play breakout to new all time highs again”.

The question lies in the motive behind the speculation. While some crypto enthusiasts argue that traders who publicly endorse Terra Luna Classic (LUNC) have no self respect, others think they have been paid off, or are simply botted accounts. Furthermore, Do Kwon’s first interview since the Terra (LUNA) fiasco was allegedly biased, having been conducted by little-known media outlet Coinage Media, the Co-Founder of which asked Do Kwon questions on camera, while both smiled casually at each other.

The interview by Zack Guzman resembles more of a neighborly picnic between old friends than a serious business piece. Perhaps unsurprisingly then, the interview has stirred the pot for many of the victims of the Terra fiasco, while many other crypto supporters find themselves unsure what to make of it.

A Game of Crypto Musical Chairs

Despite the situation being as clear as mud, David Gokhshtein made his best efforts to answer the question. However, Mr. Gokhshtein also requested that followers stop tagging him in posts and queries related to Luna Terra Classic. The crypto influencer and host of the ‘Gokhshtein Unfiltered’ podcast claims that there is nothing behind the reboot of Terra Luna Classic (LUNC). If anything, it resembles a children’s game of Musical Chairs, where one player is left without a seat. In this case, “the last person is holding the bag”. Ultimately, Gokhshtein emphasizes that “there is nothing behind the project, it’s a lottery ticket.”

On the Flipside

Why You Should Care

The Terra (LUNA) and Terra (UST) crash in May 2022 left a lot of crypto players out of pocket, as the crash erased over $200 billion from the crypto market in the blink of an eye. The faulty blockchain was restarted days later as Terra Luna Classic (LUNC).

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is a reporter, focusing on the latest tendencies of the crypto galaxy. He spends his time digging deeper into specific areas like meme coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.