The cryptocurrency that has become more popular than Dogecoin and Shiba Inu in social networks is named

Cryptocurrency experts from the analytical company Santiment have named a digital asset that has become more popular than the Dogecoin (DOGE) and Shiba Inu (SHIB) meme tokens — the Luna Classic (LUNC) cryptocurrency.

«Observing the price chart and trading volumes, the structure of LUNC is currently very similar to what happened with DOGE and SHIB about a year ago. Investors are investing in risky cryptocurrencies with the same activity as they once did in meme tokens,» Santiment analysts said. It is worth noting that LUNC-related keywords ranked 1st and 8th in trends on social media, another sign of increased attention to LUNC.

As for the growth in the value of Terra LUNA Classic, the cryptocurrency managed to increase by 2400% from August 26 to September 2. However, at the time of writing, LUNC is trading at $ 0.3 008, having lost 18.80% of its value.

It is not known whether LUNC will be able to hold its position and attract new investors. No Worries strongly recommends against investing in Do Kwon'sprojects, including Terraform Labs.

In early June, Terraform Labs' attempt to recover from the TerraUSD (UST) token crash ended in failure — the LUNA 2.0 cryptocurrency token has fallen in price by 85% since its release. The fall began immediately after the airdrop, where new tokens were distributed to Luna Classic token holders — the withdrawal of funds from the project was so serious that the price of the cryptocurrency dropped by 67% within a few hours.

Also today, it became known that a Seoul court issued an arrest warrant for Terraform Labs CEO Do Kwon and five other employees of the company. They were officially accused of violating the country’s legislation on financial capital markets.