Journalist
Posted:
- Bullish sentiment around LUNC is up more than 60% in the past 24 hours.
- Market indicators pointed to a possible price increase in the coming days.
Terra Classics [LUNC] The number of burns has risen significantly in recent days, with LUNC burned at $45 million in the past 24 hours up to the time of publication. More than 1 billion tokens have been burned in the past seven days, and in total the blockchain has burned more than 74 billion LUNC.
BREAKING NEWS
Over 45 million $LUNC Burn in 24 hours 🔥🔥🔥🔥🔥🔥#LuncBurn #LunaClassical #LUNC pic.twitter.com/FOPSGyHI70
— LunaClassic HQ 🌕 ™ (@LunaClassicHQ) September 4, 2023
Read Terra Classics [LUNC] Price Prediction 2023-24
As the circulating supply decreases, the possibility of increased demand rises – this is something that could help LUNC’s price increase in the coming months. However, at the time of writing, LUNC’s price chart was in the red.
Terra Classic burns quickly
Source: LUNC statistics
Not only has LUNC’s burn rate increased over the past week, but the confidence of the strikers has also improved. Notably, at the time of writing, more than 1.034 trillion LUNC had been wagered, and the wagering ratio 15.33%.
These developments appeared bullish as they indicated that the price of the token could see an increase. In fact, according to LunarCrush, LUNC’s Altrank managed to reach nine on September 5, which was another positive sign.
In addition, bullish sentiment around the token is up more than 64% in the past 24 hours.
Source: Lunar Crush
Is LUNC waiting for a bull run?
While the aforementioned datasets looked bullish on LUNC, things had yet to be reflected on the token’s price chart. From CurrencyMarketCapthe value of LUNC has changed only marginally in the past 24 hours.
At the time of writing, it was trading at $0.00006017 with a market cap of over $349 million.
When checking Terra Classic’s stats, it was revealed that the trading volume had increased significantly recently. One-week price volatility had also increased, which could be attributed to the price increases and corrections.
It was interesting to note that LUNC‘s development activity fell last week, generally a negative signal for a blockchain.
Source: Sentiment
How many Worth 1,10,100 LUNCs today?
While the past week has not been in investors’ best interest, the days to come could look different. Notably, the MACD showed a bullish crossover. Terra Classic’s Relative Strength Index (RSI) was near the oversold zone, which could increase buying pressure.
Another bullish indicator was the Chaikin Money Flow (CMF), which registered an increase.
Source: TradingView