The Terra Luna Classic price has bounced by almost 10% in the past 24 hours, rising to $0.00012765 as the wider market gains by a more modest 1% today.
Despite this gain, LUNC remains down by 11.5% in the past week and by 38% in the last 30 days, with the coin also down by 17% in the past year.
This means that LUNC has displayed some pretty disappointing performance in recent months, especially in contrast to most other major tokens.
However, its jump today could be a sign of returning interest, with the coin’s undervalued status potentially making it attractive to traders.
Terra Luna Classic Price Prediction as LUNC Jumps 10% – A Sign of Growing Interest?
It’s arguable that LUNC has reached a point where it now has to rally, given how much the market has oversold it in recent weeks.
Its RSI (purple) had been descending towards 40 prior today’s rally, leaving it in a position where it could see a buy-the-dip bounce.
Meanwhile, its 30-day average (yellow) has been flat for several days now, and while some may argue it’s due to fall towards or below the 200-day average (blue), it’s also possible that its stagnation in recent weeks is a prelude to a rally.
It really could go either way as far as LUNC is concerned, given its disappointing performance in the past year or so.
It’s also concerning that its price has more or less consistently declined since its early December rally, whereas most major tokens have seen recurring rallies in the past month.
Such a decline signals a loss of interest from traders, with the coin’s trading volume currently at around $160 million, compared to over $500 million in early December.
As such, it’s fair to say that LUNC is struggling to capture the market’s attention right now, with the Terra Luna Classic community doing little in recent weeks to inspire confidence.
The vote on #TerraClassic proposal #11933 finished today and did not pass. 😭 It was a very close vote with only 63B more #LUNC needed to win. 👍
Though we hoped to see the proposal pass now, it was great to see the improved community support behind it and how close we came. 👀… pic.twitter.com/DM98cfQyAy
— JESUSisLORD (@ForTheCross_CH) December 25, 2023
For example, Christmas Day saw the community rejecting a proposal to introduce a 1.5% burn tax rate, with the current rate standing at only 0.5%.
This resulted in yet another dip for LUNC, with the market seemingly frustrated that its community isn’t doing enough to restrict its supply.
As such, the Terra Luna Classic price may struggle to recover, save for a strong market-wide rally, which could happen if the SEC approves Bitcoin ETFs.
If this rally does materialize, LUNC could reached $0.00020 in the next few months.
Newer Altcoins Show More Potential
Because LUNC is struggling to regain momentum, many traders may be tempted to look towards more promising alternatives.
Fortunately, there are a variety of strong newcomers in the market right now, with numerous presale tokens showing very good potential as they prepare to list.
One of the hottest is Meme Kombat (MK), an ERC-20 cryptocurrency that has raised somewhere in the region of $6 million in its ongoing sale.
6 MILLION RAISED💰
This is a momentous occasion for the whole $MK community🌟
LFG! pic.twitter.com/vRqsbRAXkJ
— Meme Kombat (@Meme_Kombat) January 4, 2024
What’s intriguing about Meme Kombat is that it will enable users to bet on AI-generated meme battles, while rendering these battles in real-time for all to watch.
Meme Kombat will use AI in order to randomize results, which it will process on-chain in order to ensure complete transparency.
Users will be able to place bets against each other or against the platform itself, with bets placed using MK tokens.
This provides the tokens with real utility, while demand is also likely to be increased by the ability to stake them for a passive income.
Beyond its strong presale figures, one other sign that Meme Kombat will be a success is the fact that its Telegram channel already has 7,000 members.
The Meme Kombat Telegram Group is now 7000 meme-bers strong💪
With that said, please make sure you stay safe. There is only one official group⚔️ pic.twitter.com/IetN6JxKRs
— Meme Kombat (@Meme_Kombat) January 5, 2024
This indicates strong and growing interest in the project, particularly when it’s still only in its initial phase.
Those interest in joining its presale can do so by going to Meme Kombat official website.
1 MK token currently costs $0.279, which is its final price up until the sale concludes.
And from there, the coin will list on trading platforms, where it could enjoy a very big rally.
Visit Meme Kombat Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Read the full article here
