3 Best Scandal Coins to Buy Now

cryptonews.com:

So-called “scandal” tokens are seeing a massive pump as risk appetite in the broader crypto market amps up as Bitcoin (BTC) hits fresh highs for the year above $42,000.

Scandal tokens are cryptocurrencies/tokens associated with failed or defunct crypto projects/firms that were struck down by high-profile scandals.

While the failure of their associated project/firm renders these tokens pretty much useless and worthless, speculators still view them as potentially offering short-term trading opportunities.

One feature of such coins as that they are often heavily shorted, raising the prospect of a potential short squeeze.

Let’s take a look at some of the best scandal coins to buy now.

$FTT, the utility token that used to offer its holders various trading benefits on FTX’s now failed and defunct exchange has been forming an ascending triangle in recent weeks.

These chart patterns tend to form ahead of bullish breakouts.

Assuming FTT does break higher, a more than 2x rally back towards $10 per token could be on the cards.

Of course, owning FTT remains highly risky, given the token has lost all of its original utility thanks to FTX’s downfall.

Terra Luna Classic (LUNC), the cryptocurrency that powers the original Terra blockchain that experienced a spectacular blowup in May 2022, has been enjoying a spectacular resurgence in recent days.

At the current price of $0.00025, LUNC is up nearly 400% since its October lows.

Analysts have cited various factors such as plans to revive the Terra blockchain’s stablecoin UST to its 1:1 peg by buying up Bitcoin and continued support and burns from Binance as helping the cryptocurrency.

However, it remains a highly risky bet as very few people or crypto market participants continue to use the