Is it too late to buy Terra Luna Classic? Crypto experts give their LUNC predictions

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Source: Trading View

LUNC price rose 1% in the past 24 hours, hitting $0.00016802 as the broader cryptocurrency market enjoyed a 3% rebound after several days of negativity. Its current price represents a 2% drop in one week, but a 5% gain in the last 14 days.

LUNC’s recent price action follows a period of relative turbulence for the Terra Luna Classic community, which has been debating various changes and updates aimed at growing its ecosystem, which suffered greatly after the collapse of Terra in may. However, assuming the approved changes can help kick-start development and attract new users, there remains a likelihood that LUNC will see substantial gains in the not-too-distant future.

Is it too late to buy Terra Luna Classic? Crypto experts give their LUNC predictions

LUNC’s indicators don’t paint a fully bullish picture at the moment, with its relative strength index (purple) dropping below 50 in the past few hours, suggesting increasing selling pressure. Similarly, its 30-day moving average (red) has fallen below its 200-day average (blue) over the past two days, indicating a negative reversal.

Source: Trading View

In other words, LUNC is currently in the midst of a short-term decline. Nevertheless, this decline could soon bottom out, heralding a return to growth.

Looking at the big picture, more than a few people within the Terra Luna Classic (and broader crypto) community believe that LUNC has significant price increases in store. And as for LUNC holders themselves, one particular price target that they tend to rally around is $1.

Other members of the Terra Luna Classic community offered less ambitious predictions, given that LUNC remains at $0.000168. Luna Classic HQ, for example, offered a year-end target of $0.0045, which would imply a 2,500% gain over the next two weeks.

As for the real experts who are not married to any particular coin, Crypto Twitter and Telegram analyst Il Capo Of Crypto has repeatedly warned over the past few months that LUNC is heading for a meltdown, after having had a brief (but ultimately unsustainable) flurry in September.

Needless to say, LUNC supporters will dispute such a claim, even though it is down 69.5% from $0.00055183, the high recorded in early September. They will highlight ongoing token burns, with Binance revealing that it has burned 6.4 billion LUNCs in the last month alone, with the total number of burns now standing at 35.8 billion.

It’s worth pointing out that the total circulating supply of LUNC remains as high as 6.87 trillion, which means the Terra Luna Classic community has a very, very long way to go if they want to support the price of the altcoin. in a significative way. Given its huge supply, some people started calling for a massive token destruction of almost 6 trillion LUNC.

However, based on recent governance issues, it is unlikely that a consensus will emerge quickly for such a large-scale burning of LUNC tokens.

For example, a recent proposal to send half of the 0.2% chain burns to a community pool for developers was met with much disagreement and disapproval. The idea behind the update was to further fund the development of the Terra Luna Classic network so that LUNC could provide increasing utility as well as a gradually diminishing supply.

Despite the underlying logic of the proposal, some community members believe that this change will only keep more LUNCs in circulation, undermining efforts to reduce supply and increase the price of the altcoin.

This conflict highlights the great differences that exist within the Terra Luna Classic community. The same also applied to an earlier proposal for a “merger” with Terra 2.0, which was intended to allow LUNC holders to exchange the coin for the new LUNA.

Regardless of the specific results of the governance votes, disagreement over recent proposals reveals just how divided the Terra Luna Classic community is over how best to restart the network and support LUNC’s prize. As such, it’s certainly not certain that LUNC will ever return to $1, let alone $10 or $100 (as some have publicly hoped).

Even with a rally to $1, this would require an increase of almost 600,000% from the current price of LUNC. As for $10, that would mean an increase of about 5,800,000%.

The unlikelihood of such gains is underscored by the fact that at the peak of its rally in early September (when the tax cut was first announced), LUNC improved from its all-time low of “just” 51,000%. . It’s now just 16,700% from that low, showing how ambitious a 600,000% gain is.

More promising altcoins

Since LUNC holders can wait a very long time for the altcoin to return to something close to its previous level, traders may prefer to consider new altcoins with better near-term prospects.

In particular, presale coins had a very strong 2022, despite the bear market. For example, Tamadoge (TAMA) rose 1,800% after its introduction on OKX in October, while Lucky Block (LBLOCK) and Battle Infinity (IBAT) saw increases of up to 6,000% and 3,000% more. earlier this year, compared to the initial value. presale price of $0.00015.

The opportunity to purchase these three coins as soon as possible has now passed, but the three coins below still hold their respective pre-sales. They each have strong fundamentals and experienced teams, providing them with the basic ingredients needed to succeed once listed and beyond.

Dash 2 Trade (D2T) – Presale enters its final phase

Powered by the Ethereum blockchain, Dash 2 Trade is a trade intelligence platform that provides investors with real-time analytics and social trading data, helping them make more informed trading decisions. It will go live in early 2023, with its D2T token used to pay monthly subscription fees to its platform.

The Dash 2 Trade presale has already raised over $9.7 million and is now in its fourth and final stage. This gives early investors a limited window of opportunity to grab D2T before it gets listed on Uniswap, BitMart and LBANK Exchange, with more trading platforms set to confirm support in the coming weeks.

Visit Dash 2 Trade now

Skull (RIA)

Calvaria (RIA) is a blockchain-based game where players can collect, trade, and battle with NFT-based cards. In addition to its play-to-win features, it will also allow users to play it without holding cryptocurrency, which could make it accessible to a wide audience.

RIA will be used within its ecosystem for purchasing in-game items and for staking, giving it a strong use case. The token’s pre-sale raised just over $2.4 million and is currently in its fifth round, with 1 USDT buying 30.77 RIA.

Visit Calvaria now

RobotEra (BREAD)

Also running on Ethereum, RobotEra (TARO) is a Sandbox-style metaverse that will allow players to play as robots and help create its virtual world. This will include the creation of NFT-based lands, buildings, and other game elements, while the game also aims to allow players to connect with other metaverses and create an interoperable multiverse.

1 TARO is currently selling for 0.020 USDT (it can be bought in USDT or ETH), although this price will drop to 0.025 USD in the second stage of its presale. He has already raised more than half a million dollars.

Visit RobotEra now

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