Lunc Price Prediction: Today’s Lunc Price, 5th Dec 2022

In line with the same increase for the cryptocurrency market as a whole, the price of LUNC increased by 1% during the course of the day, reaching $0.00016354. Its price has dropped 1% in the past week and 32% in the past month as a result of the altcoin’s continued token burning and promises to “merge” with LUNA, which are pulling it in opposite directions.

Although the FTX and BlockFi collapses did not help LUNC generate significant profits, the aforementioned proposal to convert it to LUNA, its newer counterpart, has raised doubt regarding its future. It’s questionable whether this proposal will actually have any effect because it doesn’t appear that the Terra Luna Classic community as a whole has embraced it.

Today’s Lunc Price

Luna Classic’s price today is $0.0001748 USD

Terra Luna Classic Price Prediction

With its relative strength index (purple) circling around 60, LUNC’s chart shows a gradual buildup of momentum over the previous few days. This signals general buying pressure without going beyond. Similar to this, its 30-day moving average (red) is on the verge of crossing over its 200-day moving average (blue), creating a “golden cross” that might be an indication of a breakout.

There’s no certainty that LUNC will experience a sustained rise anytime soon, even though it’s arguably due to such a bounce, given the market’s continued perilous state.

A recent plan to allow holders exchange LUNC for LUNA through the IBC bridge likewise does not assist the problem. If the request is approved, this bridge is scheduled to open at some point later this month, which is when the Terra community would anticipate swaps becoming feasible.

The idea’s proponents are attempting to sweeten the deal by providing some undefined DEX-related incentives for locking up liquidity, despite the fact that LUNA is currently valued less than LUNC. It’s difficult to predict at this time if they’ll be sufficient to draw a sizable number of LUNC holders given that they haven’t offered any information regarding what this might be.

But perhaps more crucially, it must be emphasized that the idea is still only that—a suggestion. It hasn’t been approved by enough Terra Luna Classic validators to become operational yet, and it doesn’t appear that it will.

Given the resistance, it’s possible that this is the reason why LUNC’s price hasn’t changed all that much in either direction over the past week.

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If the plan is flatly rejected, it will no longer exist, allowing the Terra Luna Classic community to refocus on bringing LUNC’s value back. It will primarily accomplish this through the continual token burns of LUNC, of which 28.8 billion had been burned as of this writing.

Despite this, there are still 6.88 trillion LUNC in use as of this writing, meaning that the community has a long way to go until the altcoin’s value is recovered. A climb to $1, for instance, would indicate a percentage increase of more than 600,000%.

Early in October, Binance introduced its own burn of trade fees to aid in the supply reduction effort, but no other significant exchange has followed its lead. As a result, LUNC holders should temporarily reduce their price objectives lower, with $1 still a ways off.

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