Thread by @cryptoismyjam

1/12 I'm hearing rumblings of a #LUNCShortSqueeze

Is this just another hashtag from #LuncArmy or is there something more here?

I'm a rekt lunatic (V1) so this is a bit touchy for me.

Anyway, I love a good squeeze so I couldn't help but dive in 👇

2/12 Recap: What’s a Short Squeeze?

A rare occurrence that begins when the price of a heavily shorted security/crypto begins increasing.

When short-sellers are forced to purchase shares to cover their positions, this causes a rapid increase in price of said security.

3/12 Earlier this month, $LUNC rallied over 500% on the news of the impending burn proposal.

On Sep. 9th one of the biggest whales in crypto @GCRClassic took on a massive short position.

I haven't seen him miss.

https://twitter.com/GCRClassic/status/1568285126399770629

4/12 Like clockwork, the price of $LUNC fell sharply over the course of the next 2.5 weeks until massive volume & a green candle reversed the down trend on Sep. 26th.

5/12 Sep. 26th also coincides with @GCRClassic's most recent $LUNC short tweet.

I suspect the volume in the previous chart is indicative of @GCRClassic closing out a substantial amount, if not all of his $LUNC short position.

https://twitter.com/GCRClassic/status/1574354979288223745

6/12 If GCR is out, are there enough shorts left for a #LUNCShortSqueeze?

Perhaps - the current $LUNC funding rate on @FTX_Official is still negative at -118%.

This means the shorts are paying the longs.

7/12 However, positive news for the $LUNC community including new deflationary tokenomics & a rumored @coinbase listing can be a catalyst on its own.

8/12 A @Medium article by @TerraRebels notes that since the 1.2% tax & burn was implemented, over 2 billion $LUNC have been burned in the past week alone.

Luna Classic is officially deflationary.

9/12 Furthermore, after an outcry & backlash from the $LUNC community, @Binance agreed to burn trading fees of $LUNC trading pairs at the exchange's expense.

The first #luncburning on Binance is on Oct. 3rd.

https://twitter.com/LUNCDAO/status/1576138260203548672

10/12 Adding fuel to the fire, there's a new trend in town: #burnalot

The community is asking everyone to send $10 each to the below address. If successful, this could burn 1 trillion #lunc a month.

Burn address: terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu

https://twitter.com/PlayboyzSound/status/1575981115709407232

11/12 And finally, is a Coinbase listing pump on the horizon?

#CoinbaseListLunc is trending on twitter.

Etherscan shows @coinbase accumulating more tokens & currently the second biggest holder of wrapped luna classic.

12/12 Squeeze or no squeeze, the power of #LuncArmy is clear.

$LUNC has fostered a vibrant community dedicated to building & burning.

"Alone we can do so little; together we can do so much." – Helen Keller

I personally packed a small bag for this sure to be wild ride 🎢

@LuncPhoenix @traderrocko @ClassyCrypto_ @OfficialTravlad @TerraclassicHQ @Luna_C_Whale