Source: Bing Image Creator
The Terra Luna Classic price has leaped by 28% today, surging to $0.00011781 as the wider market makes a more modest 3% gain in the past 24 hours.
This move means that LUNC is now up by 63% in the past week and by 79% in the last 30 days, with these increases helping to compensate the coin for a largely disappointing 2023 it has had up until now.
Recent developments and proposal acceptances within the Terra Luna Classic community is the primary reason for the recent gains, and with whales seemingly returning to the token after months of neglect, it could witness further rises in the coming weeks.
Terra Luna Classic Price Prediction as LUNC Jumps 28.50% – What’s Driving the Surge?
LUNC is probably the strongest token in the top-100 (by market cap) at the moment, with its indicators all suggesting that it remains right in the middle of a breakout rally.
Its RSI (purple) touched 80 yesterday and remains at around 78, signalling considerable buying pressure.
Source: TradingView
Even more bullishly, its 30-day average (yellow) is about to climb over its 200-day average (blue), forming a ‘golden cross’ that often indicates the onset of a breakout rally.
It’s also encouraging that LUNC’s 24-hour trading volume is at its highest level in a year, standing currently at $333 million, in contrast to the sub-$20 million levels it witnessed a few months ago.
What such volume indicates is that larger traders are returning to LUNC, potentially accumulating the token again in anticipation of further increases.
Of course, whales can be unpredictable at the best of times, in that many buy up a token (particularly low-volume coins) in order to dump it for a profit at a later date.
Yet what’s promising about LUNC is that its community has made real progress in the past couple of weeks when it comes to supporting both it and its sister stablecoin, USTC.
$LUNC drops a zero.
Potential reasons why?
$USTC repeg $1 proposal testing supported by experts,
Burn tax dev barriers being removed,
Validator governance decentralisation improving,
@_Terraport_ full launch imminent,
@axelarnetwork asked to register… pic.twitter.com/FVxijhnXU7
— Rexyz (@RexYellerBelly) November 26, 2023
In particular, its community accepted a proposal to halt all minting and reminting of USTC a week ago, paving the way for its price to rise gradually back up to $1.
While it certainly isn’t there yet, USTC has risen in price by more than 300% in a week, suggesting that it may have begun the long process of re-pegging.
As such, the Terra Luna Classic price is likely to reach $0.00020 by the start of 2024, helped on by other recently accepted governance proposals.
Alternative High-Potential Altcoins
The only issue with LUNC right now is that, despite the possibility of another breakout, its current rally may have already peaked.
As such, some traders may prefer to look to newer alts that aren’t currently saturated, with some of the most promising alts in the market right now being presale tokens.
For example, Meme Kombat (MK) is an ERC-20 cryptocurrency that has raised more $2.2 million in its token offering, generating the kind of momentum and interest that could easily lead into a big opening on exchanges.
MEMERS!
We have passed $2.2 million raised in the $MK presale pic.twitter.com/rwla7Xxdz3
— Meme Kombat (@Meme_Kombat) November 28, 2023
The reason why Meme Kombat has been successful is that it offers something pretty unique within the crypto sector, namely an online gambling platform that invites users to bet on AI-generated meme battles.
By using sophisticated AI algorithms and tech, Meme Kombat will generate and visualize (in real-time) battles between popular meme characters, with the results of such battles being fully transparent.
Users will be able to bet against the platform or each other, while they will earn MK tokens if they bet successfully.
They will then be able to use such MK tokens for staking, earning them a passive income in the process, on top of any winnings (not to mention price appreciation for MK).
Season 1 beckons! pic.twitter.com/ryVwUndZzU
— Meme Kombat (@Meme_Kombat) November 26, 2023
And by using edgy and viral memes, Meme Kombat is already looking as though it’s attracting plenty of attention.
Buyers can participate in the presale by visiting the Meme Kombat official website, where 1 MK costs $0.214.
However, this will increase to $0.225 in just under two days, so interested investors should act sooner rather than later.
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.
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