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The Terra Luna Classic price has jumped by 5% in the past 24 hours, with its move to $0.00008179 also marking a 56% gain since reaching a 2023-low in mid-October.
LUNC has also risen by 22% in a week and by 40% in the last 30 days, with the altcoin riding increasingly positive market sentiment.
Yet LUNC has also benefitted from the passage of some positive Terra Luna Classic governance proposal, including the recent acceptance of a proposal to stop all minting of new USTC.
This is likely to boost LUNC’s price in the longer term, while it also raises hopes that its community can unify around other similarly beneficial proposals in the near future.
Terra Luna Classic Price Prediction as LUNC Gains 56% – Is the Rally to $1 Starting?
LUNC has risen by 5% in a day, so it’s perhaps no surprise that its chart and indicators continue to look pretty strong.
Its RSI (purple) is rising towards 70 again, and can afford to rise higher before the coin enters overbought territory.
Source: TradingView
Perhaps more encouragingly, LUNC’s 30-day average (yellow) continues to rise towards its 200-day average (blue), and there’s plenty of time before it rises above the latter average and peaks.
Another good piece of news is that LUNC’s support level (green) has actually risen in the past couple of weeks, providing the altcoin with higher base levels from which to mount new rallies.
On the other hand, its 24-hour trading volume remains relatively for a ‘major’ token, with its current level reading at $40 million.
This is an improvement over its readings in October, but it’s still relatively insignificant compared to the biggest tokens (e.g. BTC, ETH, SOL), even if November 10 saw a spike towards $300 million.
This latter event is important, because it was when the Terra Luna Classic community passed a proposal to stop minting and re-minting USTC.
As $LUNC proposal #11868 passed (to fulfill #11784), $USTC now is no longer mintable. Stable-to-stable swaps are disabled. #LUNC/#USTC swaps via terraswap are still available of course. pic.twitter.com/Q7hAsdGJ2H
— StrathCole (@ColeStrathclyde) November 11, 2023
This proposal will prevent the creation of new USTC, something which could support its price and that of LUNC itself.
On top of this, its passage provides a welcome example of the LUNC community agreeing on new measures, something which it has often failed to do this year.
And more than anything else, this potentially makes it easier for the community to agree on other proposals.
As such, the Terra Luna Classic price should continue to rise with the market, potentially reaching $0.00010 in the next few weeks and $0.00020 in the first few weeks of 2024.
New Altcoins For New Rallies
Because LUNC has had a very uncertain 2023, many traders may still be more comfortable looking towards other alts with clearer futures.
There are various promising new cryptocurrencies in the market, with several presale tokens looking like they could have big listings once their sales end.
For example, Meme Kombat (MK) is an ERC-20 cryptocurrency that has raised over $1.7 million in its token offering.
In honor of us reaching $1.7 million in presale, we are celebrating with something really fun coming soon to our Telegram channel
Stay tuned. pic.twitter.com/jJ9P37gVKF
— Meme Kombat (@Meme_Kombat) November 15, 2023
While ostensibly another meme token, Meme Kombat is actually an online gambling platform that enables users to bet on AI-generated meme battles.
Its platform will harness AI to randomize battles between popular meme characters, while it will also render these battles in real-time for users to watch.
Players can bet against each other or against the game itself, with Meme Kombat providing winnings in the form of MK, which users can also stake for a passive income.
It’s due to launch towards the end of the year, with investors able to join its sale by visiting Meme Kombat’s official website.
The sale is selling 1 MK at a price of $0.189, yet it will raise this to $0.205 in a couple of days, meaning interested traders should act quickly.
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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