Terra LUNA Classic Price Prediction – Can LUNC Reach $1?

Despite the community revising the burn tax on the token, the price of Terra LUNA Classic (LUNC) has not been able to move above its 21DMA and is instead moving downward.

At present, LUNC is trading at USD 0.0001022 with a 24-hour trading volume of USD 20418032.28. The 0.5% burn rate remained constant.

The recently approved proposal made a small alteration to what happens to the burned tokens.

10% of burned tokens will now go into LUNC’s Oracle Pool that had previously gone towards “rewards”.

Sadly, it is still possible for the price of Terra LUNC Classic to drop more as the whole cryptocurrency market suffers and faces some challenges due to Bitcoin Halving.

The high inflation has further forced investors to reduce their wages on a Fed rate cut. Following that, the US currency and bond yields increased, which hurt altcoins like LUNC.

The price of Terra LUNA Classic has dropped by 34%  and 60% more from its peak in March at $0.00002550.

Terra LUNA Classic Price Prediction – What’s In For LUNC? 

According to analysis, the bears of Terra LUNA Classic are still very much in control of the market at the moment. From late March onwards, the 21DMA has served as a formidable barrier. After that, a downward trend in the price of Terra LUNA Classic was developed. The March low has further served as a resistance. 

All of these indicate that LUNC prices will soon drop. In the next weeks, a 30% decline from current levels is probably expected.

Can Terra Luna Classic Reach $1? | LUNC Predictions – 

In theory, LUNC could hit $100 if the community managed to burn up enough tokens.

At $100, LUNC would indicate a 6 million token supply, assuming the company keeps its present market capitalization of $600 million.

The present token supply of LUNC, however, exceeds 5.8 trillion. 99.99999% of the token supply must be burned to reach a 6 million token supply.

Increases in market capitalization may lessen the number of token burns needed to bring LUNC to $100.

However, when the Terra environment crashed back in May 2022, LUNC was rendered completely useless.

Right now, LUNC is essentially just a speculative shitcoin. At present it seems impossible that LUNC would reach $100 in the future.

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