Terra LUNA is the biggest crypto loser today, crashing 27%.
Both Terra crypto assets are red on the day, retracing after their recent bull runs. Terra Classic (LUNC) is also down today, dropping 20% – the second highest loser after LUNA.
In other altcoin news, ERC-20 token Tamadoge (TAMA) has raised $15 million in its presale.
Bitcoin is steadily climbing, with a 3% rally to the upside in the past 24 hours, hitting an intraday high of $22,500 and many altcoins are following – notably Solana is up 7% and one of the top 10 crypto gainers on Binance.
Hedera Hashgraph (HBAR) is putting on an even stronger performance, up 13% and breaking into the 5 biggest crypto gainers on Binance since news of its upcoming Coinbase listing broke today.
Altcoin Sherpa tweeted out to his 183k followers yesterday that he opened a short position on LUNC, timing the top well.
Retail investors tend to buy the top of bull cycles by FOMO’ing into green candles – by the time Terra (LUNA) and Terra Classic (LUNC) had made mainstream headlines for their explosive run ups in the past weeks, the top was in.
One positive for Terra bulls is that the LUNA price has bounced from the daily EMA 8 at $4 as shown on the Terra price chart above.
A potentially better way to invest in cryptocurrency is to research new crypto projects at their presale or initial coin offering (ICO) stage, yet to begin trading on crypto exchanges and pump to a high valuation in the billions of dollars.
Tamadoge (TAMA) is the native token of an upcoming play to earn crypto game, adopting the aesthetic and mass appeal of dog themed meme coins but having a use case and being deflationary with a low fixed supply – unlike e.g. Dogecoin which has an infinite supply and is inflationary.
In that way it addresses some of the issues that faced DOGE and Shiba Inu (SHIB) in that they had little utility or scarcity as reasons to hold them after they achieved fully diluted valuations (FDV) in the tens of billions in mid to late 2021.
Learn more about TAMA, its roadmap and team at tamadoge.io.
At the time of writing the Tamadoge presale is on pace to sell out this month, with under $4 million remaining before its hard cap of $19 million is hit.
Visit Tamadoge Presale
A quick 3min read about today's crypto news!
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