Analysts at finance firm Motley Fool recommend staying away from these 2 altcoin projects until the end of the year, whatever the circumstances.
Be sure to check out these warnings before your next altcoin investment
While Bitcoin and Ethereum are gaining momentum, some cryptocurrencies should be approached with caution. According to Motley Fool analysts, cryptocurrencies like Terra Classic and Pepe are giving dangerous signals at this point.
Why is Terra Classic dangerous?
The Terra LUNA-UST crisis in 2022 dealt a historic blow to the crypto market. The algorithmic stablecoin known as Terra Classic USD has lost its dollar peg. However, investors have lost their trust in TerraUSD. Mass withdrawals led to a massive crash. At that time, TerraUSD dropped as low as $0.006 per token.
This crisis has further fueled the fires that were already pressing on the crypto market at the time. For example, Bitcoin dropped from $38,000 to $29,000 amid the TerraUSD crash. It fell from $120 to 0 in LUNA, which was once among the top 10.
In the months that followed, the supporting Terra Blockchain was rebooted in hopes of rebuilding those lost in the TerraUSD crash. So far, Terra 2.0 has a healthy list of DeFi projects in development. However, according to the analyst, it should not be seen as a new version of the TerraUSD stablecoin.
Terra Classic represents the fading embers of a once thriving but now completely unsuccessful and forgotten project. Its price is currently hovering around $0.0001. The new project is a legacy cryptocurrency with a solid future. But nothing could be further from the truth. Speculators are turning to the rebooted Terra (LUNA) instead. Therefore, its price moves up or down daily for no good reason. Whatever the short term, it is almost certainly doomed to zero in the long term, according to analysts.
What’s wrong with Pepe?
Pepe is an Ethereum-based ERC-20 token just like Shiba Inu. The meme token also relies on classic internet memes for branding and marketing. But the similarity with the Shiba Inu ends there. Its official logo is Pepe the Frog, a rough-hewn cartoon that has assumed distasteful political overtones over the years. In addition, the official website of the project gives another warning signal.
In particular, antivirus programs do not allow viewing that page directly. Many online security experts flag it as suspicious, citing its resemblance to known scam sites.
However, Pepe developers don’t have big goals like launching successful DeFi services. cryptocoin.comAs you can see from , PeckShield has put a rug pull stamp on a long list including PEPE. All these factors are serious red flags for staying away from LUNC and PEPE, according to analysts at Motley Fool.
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