It is not that someone is praying for the LUNA 2.0 project not to succeed or something, lord knows I want people to recover some money back because that LUNA/UST crash was brutal, but it is going to be extremely difficult for that to happen because of the terra LUNA/UST crash that led to this currently LUNA project, people are not stupid and are not read to lose any more money to Do Kwon and his team, so the price crashing down -80% on the first day of its launch it is to be expected like a bold handwritten on the wall and anyone ready to trade it should already know it is a very high-risk trade with crazy volatility and a lot of angry investors with high trust issues.
When trust in the system is extremely low or in this case might be gone, that is a very problem for that project and it has to be fixed immediately all else the project won't survive the storm coming for it. So the LUNA airdrops will be sold like there is no tomorrow there will hardly be any HODLers because everyone wants to salvage anything they can get especially those who lost everything, people will sell once they get their token, coupled with the fact that so many crypto exchanges have delisted LUNA Classic (the old Luna) and the coin disappearing from their wallets, so that too is going to increase the FUD (Fear, Uncertainty, and Doubt) around the terra LUNA 2.0 project in the crypto market and that is not good of its survival. the price crashing down heavily on the first day is already a bad look for the LUNA 2.0 project.
LUNA 2.0 Price Crash Was Inevitable
The price crashing down was inevitable because a lot of unhappy and angry investors had to sell to recover some of their losses. Lots of people were behind on their bills due to the LUNA/UST collapse to zeros that cleaned them out, many also wanted a form of compensation for their huge losses, so they had to take advantage of the LUNA 2.0 launch and grab some money incase Terra LUNA 2.0 fails making it another Do Kwon failed project. Investors' confidence in any LUNA project is extremely low. Because no one likes to or wants to lose twice. there is a popular saying that goes like this fool me once shame on you, fool me twice shame on me, No one wants to be on the losing end twice in a role, although some people are right now, those who FOMO (Fear Of Missing Out) in because the saw the price of LUNA 2.0 skyrocketed from its initial launch price at $0.5 to about $25, which was a good start until it wasn't and the price crashed back down to $4.9 on the same day of its launch, yesterday. But it is currently trading at $5.2 the last time I checked.
But on the other hand, despite investors not having trust for any LUNA project and are dumping the token any opportunity they get, could this drop still be as a result of a normal dump in the price of a new coin or token after it has been launched?, While let's watch and see what happens next, although I won't go close to LUNA 2.0 for now for obvious reasons and I am still secretly hoping it succeeds, so those that lost big could recover, even if it a bit, that is still much better than nothing.
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