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Anyone buying now that prices are dropping a bit again?

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by COINS NEWS 107 Views

MOON peaked at around 0.55$ and have now dropped back into the low 0.30$ point, making it almost a 50% fall from the small peak it had yesterday.

I'm not saying that it's not normal for a crypto to go lower after such an intense spike, but how does that make MOON as an investment look like to you?

In my head I'm weighing the pros and cons related to a purchase, and I'm curious to hear what you guys are thinking.

Pros:

  • MOON is still valued very low compared to meme coins. It's not far fatched to see a token with the name MOON catching mainstream attention.
  • Kraken listing could be upcoming
  • A lot of big holders have now sold, meaning that selling pressure is considerably lower, in the case it takes off again
  • While looking like a meme coin, users might actually get interested in MOON when buying, because it's actually tied to something

Cons:

  • It's still uncertain how Reddit will move on with cryptocurrency integration, it might be for the worse
  • We could still see a much bigger retracement, as there's still a good amount of big holders, who could unload

Anything I'm missing? I'm of course not giving financial advice to anyone, and I know you guys are way too smart to do that, but I think it's funny that we're now even considering buying MOON, and not just earning it through posting.

submitted by /u/deckartcain
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