Lunc Price Prediction: Today’s Lunc Price, 12th March 2023

The Terra Luna Classic price has dropped 12% in the last 24 hours, to $0.00012029, as the news of Silvergate Bank’s liquidation shocks the cryptocurrency market.

With its present value, LUNC has lost 28% in the last week, 35% in the previous 30 days, and 16% since the beginning of 2023, according to its price.

The 24-hour trading volume for LUNC has increased to $100 million in this context, but given the price movement, it is likely that sellers rather than buyers are driving the majority of this volume.

The Terra Luna Classic community is still working to find ways to increase the LUNC price, and burning is still going strong, so it might not be long until the token makes another reappearance.

Today’s Lunc Price

Luna Classic’s price today is $0.0001196 USD

Terra Luna Classic Price Prediction

The signs for LUNC point to a bottom as they do for the majority of coins at the moment.

In the last several hours, its relative strength index (purple) has fallen to 20, indicating that it is oversold and should reverse upward.

Similar to how LUNC’s actual price has decreased below both, so has the stock’s 30-day moving average (red) and 200-day moving average (blue).

Again, this signals that LUNC should experience a comeback bounce after the dust has settled on this specific market-wide selloff.

Aside from its technical, there are other reasons to be sure that the coin will have big rallies again later in the year.

One example is that a proposal to re-peg USTC, the sibling stablecoin of LUNC, was approved last month.

Given the interdependence of the two coins, this is quite positive for LUNC because it would need a massive burn of LUNC tokens.

Furthermore, given that there are 5.9 trillion LUNC in circulation, only 39.6 billion of them have been destroyed to date, necessitating a massive LUNC burn.

As a result, it’s critical that the Terra Luna Classic community unite behind a detailed and practical strategy for putting the now-accepted proposition into action.

A contentious proposal to eliminate a developer from Terra Luna Classic’s L1 Task Force surfaced during the past few days, which, regrettably, suggests that the advent of a definite strategy may be postponed (which is responsible for developing and supporting the network).

This comes after a similar suggestion to discontinue paying another developer from January, demonstrating that not everything is going smoothly for Terra Luna Classic and its community at the moment.

But, as the tweet above demonstrates, support for the most recent contentious proposal is incredibly minimal, demonstrating how the Terra Luna Classic community as a whole is mostly united.

The Terra Luna Classic blockchain has seen a number of significant improvements in recent weeks, including an upgrade from last month that made it possible for programmers to modify code parameters more effectively.

Moreover, Binance has resumed burning its own trading fees in LUNC, and according to the most recent update, it burned more than 8 billion LUNC in the months prior to the end of February.

With all of these changes, LUNC still has the potential to increase significantly this year.

The price is most definitely headed for a recovery to the $0.0002 it witnessed at the start of February, and by the end of 2023, it might even reach $0.0004 or $0.0005.

Of course, the overall market will have an impact, but with the Terra Luna Classic community supporting LUNC’s expansion, it has all it needs to bounce back when the time is right.

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