Terra Luna Classic (LUNC) Price has surged significantly, showing a bullish trend over the past 24 hours. The cryptocurrency is witnessing increased momentum, increasing its price after a weekly burn. This upward trend signals the potential for further gains, drawing attention from traders looking to capitalize on the rally.
Terra Luna Classic Price Surged As Burn Rate Increases To 726 Million
Terra Classic price surged as the recent burn activity gained momentum, with 101 LUNC tokens burned in the last hour across one transaction. Today’s burn volume stands at 15,014,150.70 tokens, with 6,101 tokens burned through direct transactions and 15,008,049.70 through tax mechanisms.
In the past hour, there have been a total of 101.00 $LUNC tokens burned and 1 transactions.
TODAY BURNED
By TX: 6,101.00
By TAX: 15,008,049.70
Total: 15,014,150.70Website: https://t.co/q4WijVKbSr#luncarmy #lunc
— LUNC.TECH (@lunc_tech) October 22, 2024
According to LunaMetrics data, a remarkable 320,164,105 tokens were burned in the past seven days, significantly impacting LUNC’s overall supply. This increased burning activity may improve the token’s price dynamics as the supply shrinks. The burning initiative remains vital to altcoin’s strategy of restoring value to the Terra Classic ecosystem.
LUNC Price Gains Momentum Amid Market Correction
Over the past 24 hours, the price of LUNC has shown a slight bullish movement, currently trading at $0.00009363, marking a 2.01% increase. The price experienced fluctuations, with the low reaching $0.00009035 and the high peaking at $0.00009714.
Despite these gains, most crypto market prices appear to be facing a correction. BTC remains above the $67,000 level, while ETH, SOL, and XRP have exhibited downward trends, raising concerns among market participants. The overall crypto sentiment remains cautious as the market digests these movements.
Can Terra Classic Price Reach $0.00015 Soon?
The Moving Average Convergence Divergence (MACD) indicator shows a positive crossover, suggesting bullish momentum might continue in the near term.
Terra Luna classic price is poised for a potential breakout as market conditions improve. A positive shift could see top altcoin surpass its current resistance level of $0.0001. If it successfully cross this mark, the next target for the cryptocurrency may be $0.00012.
If the bullish momentum continues, especially with the ongoing LUNC burn, the price could reach $0.00015 during the next significant rally.
The recent increase in Terra Classic’s burn activity has fueled bullish momentum, with price gains seen over the past 24 hours. If the positive market sentiment continues, the Terra price could surpass resistance levels and potentially reach $0.00015. The ongoing burns remain a key driver for future price performance and ecosystem value.
Frequently Asked Questions (FAQs)
The burn reduces the circulating supply of LUNC, which can drive price increases due to scarcity and growing demand.
LUNC’s current resistance level is $0.0001, which, if broken, could lead to further price gains.
If the current bullish momentum continues, LUNC could reach $0.00015 during the next significant market rally.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/terra-luna-classic-price-prediction-after-weekly-burn-of-320-million-lunc/
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