The post Terra (LUNA) Price Surged More than 200% Without Any News! Has the Euphoria Market Began? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Way back in Q1 2021, one of the popular assets Dogecoin, displayed a similar price action. After years of consolidation, the price raised high by more than 800% in a single day. Presently, Terra’s (LUNA) price is also displaying a similar rally by surging close to 300% in the past few hours.
dogecoin
Cryptocurrencies
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also had raised without any major network upgrade or announcement but had huge support from tesla
tesla
Automobile
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CEO, elon musk
elon musk
founder, ceo at tesla, spacex
Elon Musk was an enthusiastic cryptocurrency believer, quivering the crypto world through his sparkling tweets. He has a complex relationship with cryptocurrencies. His tweets solely are responsible for the crypto volatility. Musk splendidly purchased $1.5 billion in the king of cryptocurrency. He was born on June 28, 1971, and is based in Pretoria, South Africa. His mother is Maye musk and his father is Errol musk, he is a South African electromechanical engineer, pilot, sailor, consultant, and property developer.
He graduated from the University of Pennsylvania, earning a bachelor’s degree in Arts and physics, and the Wharton School, earning a bachelor’s degree in science, and economics. Musk was honored by Axel Springer Award, an annual award given to remarkable personalities who are extremely innovative, build new markets and change markets, shape culture, and confront their social responsibility.
In 1995, Elon Musk and Greg Kouri founded a web software company called ZIP2. The company developed and marketed an Internet city guide for the newspaper publishing industry, with maps, directions, and yellow pages.X.com and PayPal: in 1999, he co-founded X.com which is an online financial service and email payment company. Space X: on 14, March 2002 he founded space x company which provides space transportation services.
On July 1, 2003, he founded TESLA. Tesla is an electrical vehicle and clean energy company which designs and manufactures electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and so on. His other activities involve SolarCity and Tesla Energy, Neuralink, the boring company, Managerial style and treatment of employee Hyperloop, openAI music, and ventures. Etc. he made $165 by selling PayPal to eBay. And was first listed on the Forbes Billionaires List in 2002, with a total net worth of $2 Billion.
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. Currently, terra
terra
Blockchain Network
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also has no such bullish trigger nither any mentions from the prominent figures within the space. But still, the price rose by nearly 286% without any news hovering around the asset.
Therefore, the price rise may be a result of a euphoric market that may crash in the coming days ahead.
With the recent rise, the price has now surged close to its previous levels that it trade soon after the re-branding. Presently, the LUNA price is testing one of the crucial support at $7 and is expected to resume a firm upswing after a brief consolidation. With the next leg up, the price may eventually regain the double-digit target figure & secure levels above $11.
Despite the asset having recorded one of the most profitable days, the reason behind the rise is pretty misty. The volume rose monstrously by more than 3000%, recording levels above $8 billion in the past 24 hours. On the other hand, the sister tokens, Terra Classic(LUNC) & TerraUST (USTC) have plunged significantly.
Therefore, in the Euphoria market, the steep rise or plunge, usually does not have any base, but only flows by sentiments. Therefore, if the sentiments flip, the Terra (LUNA) price tends to fall hard.
