Despite starting the day on a bearish foot, much like the rest of the cryptocurrency sector, Terra Classic (LUNC) and TerraClassicUSD (USTC) have still recorded impressive results in the days before, leading to increased chatter in the crypto sphere and suggesting possible ‘fear of missing out’ (FOMO).
As it happens, Terra Classic and the TerraClassicUSD stablecoin are trending among traders following the major price surges from previous days, according to the most recent data shared by the crypto on-chain and social metrics platform Santiment in an X post on November 28.
Specifically, the crypto platform’s social trends for top trending token leaders from November 27 have placed USTC in the very first place with a price increase of 198% in the 48 hours leading up to that date, followed by LUNC with a 31% price growth during the same period, with Bitcoin (BTC) coming in third.
Indeed, as the platform’s team noted:
“TerraUSD & TerraClassic are trending among traders after major price surges. USTC, in particular, originally designated to be a $1-pegged stablecoin, has reached as high as $0.0758. After their 2021 collapses, FOMO could be returning here in 2023.”
LUNC price analysis
At press time, LUNC was changing hands at the price of $00000947, which represents a decline of 21.74% in the last 24 hours but still a significant gain of 25.21% across the previous seven days and a more impressive 46.93% increase in the past month, as per data on November 28.
All things considered, LUNC’s current price is a far cry from yesterday’s success, peaking at $0.000124, but the low price could offer ‘buy the dip’ opportunities for investors interested in it and, judging by the social metrics from above there is no lack in interest in this particular cryptocurrency.
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Source: https://finbold.com/fomo-incoming-lunc-recent-price-surge-triggers-chatter/