The price of Terra Luna Classic has fallen to $0.00026542 in the last 24 hours, down a slight 0.5%. LUNCH is also down 12% in a week and 20% over the previous 14 days, marking a negative macro result. Conditions continue to weigh on late September recovery. LUNCH had significantly benefited from Binance’s ongoing burnouts, with its headlines and supporters urging other exchanges to follow in Binance’s footsteps. Given that such a burn has only just begun, it is likely to significantly impact LUNC’s price in the medium to long term, although it is difficult to say whether it will ever reach its former heights.
Terra Luna Classic Price Prediction – Can LUNC Rally 500% by 2023?
LUNC’s chart shows it is enjoying improved momentum, with its Relative Strength Index (purple) rising to nearly 60 over the past day. At the same time, its 30-day moving average (red) has increased, and many are back above its 200-day moving average (blue).
This could indicate another outbreak. There remains a strong possibility that Terra Luna Classic will see some more rallies this year as Binance last month committed to the continued burning of the LUNC it collects through trading fees.
Other exchanges (e.g. KuCoin) have supported LUNC tax burns in recent weeks, while others are likely to follow. Additionally, Seattle-based KoJ Labs announced last week that it would commit $450 million to incinerate a total of 2.5 billion LUNC over the next few months as part of a burn mechanism implemented in his Finesse Shadow Warriors game to monetize.
This puts LUNC on track to significantly reduce its circulating supply, which currently stands at 6.88 trillion. Since it’s already up 26,655% since the crash in May this year, another 500% by 2023 doesn’t seem out of the question. To increase 500% from its current level, LUNC would need to reach $0.0016, which certainly doesn’t sound ridiculous or overly ambitious.
Note that the altcoin’s recent rallies have occurred without a significant reduction in its supply, meaning that such a reduction could significantly impact its price.
This green crypto has surprised even crypto experts.
This may come as a disappointment to anyone expecting continued big wins from LUNC. However, there are other options for positive returns even during the current bear market. Advance sales were particularly successful this year. For example, Tamadoge (TAMA) raised $19 million in presale before posting a 1,800% gain (relative to presale price) sometime after its listing on OKX. One good ongoing presale is Project Impact, an Ethereum carbon credit marketplace and green shopping platform. Sales of its IMPT token began on October 3 and have raised $5 million so far, with the coin currently available for $0.018 (although the price will rise to $0.023 soon).
While the future price development of IMPT cannot be predicted, Impact Project’s fundamentals make it an attractive platform for ESG investors, giving it every chance of generating a positive return once it secures its first contracts.