

Terra Classic (LUNC) Price Spikes by 19% in a Week, Analysts Point to Potential Long-Term Bullish Trend
Terra Classic (LUNC) has recently experienced a price surge, spiking by over 19% within a week. Data reveals that the token's value rose by an additional 6% in the last 24 hours, bringing its current trading price to $0.0001007 with a market cap of more than $549 million, ranking it as the 130th-largest cryptocurrency.
Terra Classic (LUNC) has seen a recent surge in its price, spiking by over 19% within a week. According to data, the token’s value rose by an additional 6% in the last 24 hours, bringing its current trading price to $0.0001007 with a market capitalization of over $549 million, ranking it as the 130th-largest cryptocurrency.
The price surge has also impacted Terra Classic’s social metrics in a positive way. According to Santiment data, the social volume appears to have risen significantly, suggesting an increase in community engagement. However, Terra Classic’s Weighted Sentiment metric has declined from its peak in the early stages, which could indicate a bearish trend that may lead to price reversals in the short term.
Highlighting the potential bullish trend, the burn rate of Terra Classic has been active in the past few days, particularly on November 6. Usually, an increase in the burn rate is considered to be good as it means that the number of tokens in circulation is decreasing, which is often linked to the price increase.
In the last 24 hours alone, more than 16 million LUNC tokens were burned. This continuous decrease in the circulating supply of LUNC has attracted the attention of the market. In a tweet on X (formerly Twitter), crypto analyst Javon Marks noted that the recent price action of LUNC could indicate the asset entering a bullish trend. According to Marks, the current momentum is the "major strength," which may indicate that the token is preparing for a long-term rally.
Another analyst shared a similar view, stating that the community-driven efforts could propel LUNC to achieve further milestones with the ultimate target of $1.
The recent crypto market rally has seen major assets like Bitcoin and Ethereum recording significant gains. At the time of writing, Bitcoin was trading at over $81,000, while Ethereum was trading above $3,000. This has led to the general market rise, which has benefited several other altcoins, including Terra Classic, ultimately boosting the current price surge of LUNC.
Moreover, the recent 14% appreciation of Terra Classic in the past month is another indication of steady growth supported by the community's initiatives to burn tokens and increase demand. Recently, OrbitLabs proposed a detailed analysis of the recently adopted “Reverse-Charge” tax mechanism in the Terra Classic (LUNC) network.
The above is the detailed content of Terra Classic (LUNC) Price Spikes by 19% in a Week, Analysts Point to Potential Long-Term Bullish Trend. For more information, please follow other related articles on the PHP Chinese website!

As of press time, Pi is trading at $0.6711 after its integration with Chainlink on April 12th. The announcement caused a surge in the price of Pi

An analyst on X, Frigg, highlights multiple reasons to be optimistic about SUI Network price trajectory.

Following today's data released by IntoTheBlock, sentiment around Bitcoin appears heightening towards bullishness.

nt Labs and the Movement Network Foundation Launch Independent Investigation into MOVE Token Market-Making Irregularities
![A wave of capital is flowing out of Ethereum [ETH] and into Tron [TRX]](https://img.php.cn/upload/article/001/246/273/174477326297054.jpg?x-oss-process=image/resize,p_40)
With $1.52 billion in stablecoins migrating to Tron, investors appear to be favoring lower-cost chains and diversifying beyond traditional USD-backed assets.

Mantra CEO John Patrick Mullin has proposed burning his allocation of OM tokens in a move aimed at restoring investor confidence after the protocol's native token suffered a sharp collapse.

Technical Setup for Bonk Price Recovery According to prominent crypto analyst Altcoin Sherpa, Bonk is showing signs of a potential rebound.

Securitize, one of the largest tokenized asset issuers, said on Tuesday it has acquired MG Stover's fund administration business

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

Notepad++7.3.1
Easy-to-use and free code editor

MinGW - Minimalist GNU for Windows
This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.

WebStorm Mac version
Useful JavaScript development tools

SublimeText3 Linux new version
SublimeText3 Linux latest version