LUNA has found itself in a pickle as it witnesses its worst week in its history. As mentioned earlier, the cryptocurrency has shaved off almost 99% of its value in the last seven days as investors continue to dump and pile up short positions.

At this rate, LUNA could drop to the $2 mark before the end of the day. Recovering from such a loss will not be a walk in the park. As it stands, we might never see the $100 price tag for LUNA in 2022. It is safe to say that the technicals do not matter for the cryptocurrency as spectators adopt a watch-and-see stance.

Total Market Capitalization: $1.43 trillion

Terra Market Capitalization: $2 billion

Terra Dominance: 0.14%

Market Rank: #38