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Terra Luna Classic Price Prediction as LUNC Blasts Up 5.6% – Are Whales Buying?

Source: TradingView

The Terra Luna Classic price has jumped by over 5% in the past 24 hours, reaching $0.00016077 as the cryptocurrency market as a whole remains static over the same timeframe. Its current level marks a 0.5% drop in a week but a 23% gain in a fortnight, with the altcoin down by 7% in a month.

LUNC’s surge today has mostly been caused by acceptance of a proposal to build a task force aimed at boosting its growth, although whales buying the altcoin after a dip is likely another factor. And with its community increasing its efforts to support the Terra Luna Classic ecosystem and reduce its supply, it could see further gains as 2023 unfolds.

Terra Luna Classic Price Prediction as LUNC Blasts Up 5.6% – Are Whales Buying?

LUNC’s chart shows that it’s enjoying a little breakout at the moment, with its relative strength index (purple) rising above 70 in recent hours. This indicates growing momentum, as does the fact that LUNC’s 30-day moving average (red) has overtaken its 200-day average (blue), forming a ‘golden cross’ that could signal further gains.

Source: TradingView

Based on its recent history, LUNC had been due a spurt, given that its RSI had fallen just below 30 as the market entered 2023. However, this same history has shown that, for every little rally, LUNC has fallen again quickly afterwards, doing so quite regularly since September.

September was notable for the introduction of an on-chain tax burn, which at the time burnt 1.2% of all LUNC transacted. This created a bullish expectation that the coin’s supply would steadily decline over time, boosting its price.

Such optimism was reinforced by Binance’s announcement in early October that it was introducing its own burn of all LUNC trading fees. The thing is, initial expectations have since been dampened, partly by the fact that burns to date have scarcely dented LUNC’s 6.87 trillion supply, and partly by community wrangling over how to take things further.

For example, mid-October saw the passage of proposal to lower the on-chain tax/burn to 0.2%, while also sending 10% of the taxed amount to a community pool for developers. The idea behind this was to boost development on the Terra Luna Classic network, yet by reducing the burn rate it dampened investor sentiment.

Despite the friction over how best to support Terra Luna Classic, progress continues to be made, with the past 24 hours seeing the acceptance of a proposal to set up a ‘task force’ charged with devising ways to push the network forwards.

The confirmation of this proposal is likely the main reason behind LUNC’s rally today. Of course, its community continues to expect bigger things from the altcoin, with many continuing to pin their hopes to a gradual climb towards $1.

Some members of the LUNC have proposed more realistic targets for 2023, with some looking at 100x (nearly 10,000%) by the of the year. This would bring the token to roughly $0.016077.

Some serious burning will need to take place this year even with this lower target. As of writing, the total amount of LUNC burned to date is 37 billion, or 0.5% of its total circulating supply.

New Altcoins

This means that investing in LUNC is very much a long-term game. So for those who’d prefer more immediate returns, it would be worth looking elsewhere, with presale ranking among the most lucrative areas of crypto in 2022.

To take two of the most notable examples, Lucky Block (LBLOCK) and Battle Infinity (IBAT) witnessed increases as high as 6,000% and 3000% earlier last year, compared to initial presale prices of $0.00015. Another impressive presale was Tamadoge’s (TAMA), with TAMA rising by as much as 1,800% after listing on OKX in October.

Of course, conditions need to be favorable for other presale coins to enjoy similar gains once they list. Yet the fact is that the three coins selected below all boast strong fundamentals, giving them every chance of having a good 2023.

FightOut (FGHT)

Running on the Ethereum blockchain, FightOut (FGHT) is an exciting move-to-earn app that combines real-life workouts with Web3 and the metaverse. Expanding on the template created by earlier M2E platforms such as STEPN, it tracks and rewards a much wider variety of workouts, including boxing, weightlifting and yoga, while also offering a range of in-app and IRL courses at its own branded gyms.

Launched last month, its token sale has already raised over $2.5 million, with 1 FGHT on sale for $0.0166. Participants need either a Connect Wallet or MetaMask wallet, with early participants having the chance to earn a 50% bonus.

Visit FightOut Now

Dash 2 Trade (D2T)

Dash 2 Trade is a trading intelligence platform that, launching in Q1 in 2023, will provide real-time analytics and social trading data. Also based on Ethereum it provides investors of all skill levels with all the resources and tools they need to make more informed trading decisions.

The sale of its D2T token has raised over $12.4 million and is due to end in only three days, given interested investors only a limited window of opportunity to get in early. It has also announced listings on BitMart, Changelly Pro, and LBANK Exchange for early 2023, with the first coming as soon as January 11.

Visit Dash 2 Trade Now

C+Charge (CCHG) 

Running on Binance Chain, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations, with the aim of widening access to carbon credits. It launched the sale for its native CCHG token just before Christmas, with CCHG set to be used within its network by EV owners to pay to charge their vehicles.

C+Charge will also reward users with carbon credits for charging their EVs at its stations, with rewards provided in the form of the platform’s Goodness Nature Token (GNT). Promisingly, the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network.

Visit C+Charge Now

Read More: Terra Luna Classic Price Prediction as LUNC Blasts Up 5.6% – Are Whales Buying?

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