Meme coins are dead, long live meme coins!

Once every while, the crypto market catches a craze. A real one. Not like some measly "BTC is up 20% today", but a true face-melting hype train, blowing through resistances at full steam and emptying the pockets of anyone who decided to short it. These moments bring those elusive 100 and 1000 baggers to the brave degens who were crazy (or stupid) enough to buy them and not sell at the first signs of profit.

At different times in the past the meme king crown belonged to $DOGE, $SHIB, $SAFEMOON and others, but today there's no doubt that the name of the game is $LUNC. It had a spectacular rise and an even more spectacular downfall, going literally to 0 and leaving even the most stubborn dip buyers begging for change on the side of the road. But now it turns out, the phoenix has risen from the ashes, and a whole new wave of speculation is rolling up to the crypto shores.

Just observing the price and volume patterns, there's a very similar structure in LUNC right now to what was happening with DOGE a year and something ago:

Both had an initial run-up, followed by a flat consolidation, after which the real craze began. Looking into social data, a similar picture appears:

Also worth noting, at the time of writing LUNC-related keywords are taking #1 and #8 of our social trends, which is another sign of massive crowd attention.

If next we see a crash in LUNC to around $0.25 per 1000, followed by the last leg up above $0.8, then we can safely say that the crypto crowd truly never learns anything from the past, and it's only a matter of time until a carbon copy of today's event happens again.

Thanks for reading!

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