LUNC has declined by 1% in the past 24 hours, with the Terra Luna Classic price dropping $0.000108 as the wider crypto market gains by a very slight 0.5% today.
The altcoin is now up by 1% in a week and by 6.5% in a month, while it sits on a fairly unspectacular 16% gain in a year.
While the latter percentage is underwhelming relative to bigger tokens, the coin’s moves today come as Binance burns just over 1 billion LUNC, bringing the exchange’s burn total to 59 billion.
This brings the total burn to 113.3 billion LUNC, and with the Terra Luna Classic community still working on increasing the burn count and enhancing the coin’s utility, we could see more price gains soon.
Terra Luna Classic Price Prediction as Binance Burns 59 Billion Tokens – $10 LUNC Incoming?
LUNC’s price has stabilized a little in the past hour, leaving its indicators in a position that would suggest incoming gains.
For example, its relative strength index (purple) has risen to 60 after dipping below 50 earlier this morning, creating the possibility of gains over the weekend as it rises towards 70.
Source: TradingView
Meanwhile, its 30-day average (orange) has resumed rising further above the 200-day (blue), regaining momentum after a lull over the past couple of days.
While LUNC is doing well relative to its recent history, it should be remembered that its volume is basically minuscule in relation to the volumes of major tokens.
At $21 million, its 75% down from where it was during the first week of May, and a whopping 97.5% down from its levels in early March.
This indicates a distinct lack of interest in LUNC from the wider crypto market, which seems to remain skeptical as to the coin’s long-term viability.
Despite such negativity, Terra Luna Classic continues to take modest steps towards making itself more attractive as an asset, with Binance burning over 1 billion LUNC yesterday.
Binance continues to burn Terra Luna Classic (LUNC) tokens, totaling over 59 billion tokens burned. LUNC and USTC prices soar amid market recovery, with LUNC hitting $0.0001092 and volume up by 28%. Exciting developments in the crypto space!
— Dylan Dollars (@thedylandollars) May 16, 2024
The exchange has now burned 59 billion in total, with the total LUNC burn count reaching 113 billion overall.
However, this amounts to only 1.66% of the overall LUNC supply, which perhaps explains why recent burns haven’t had much of an impact on the coin’s price.
Even so, they raise the prospect of LUNC making steady progress over the coming months, with the Terra Luna Classic community continuing to debate and (occasionally) accept proposals for improving the coin’s viability.
Hey #LUNCcommunity! Your voice matters!
We’re discussing a crucial proposal to freeze LFG reserves on the #TerraClassic Blockchain.
This is a pivotal moment and your feedback could shape our path forward. Dive into the details and help to improve the proposal together.
Drop…
— Frontiers in LUNC (@LUNCFrontiers) May 17, 2024
As such, the Terra Luna Classic price could reach $0.00015 in the next few weeks, and $0.0003 by Q4 2024.
Small-Cap Meme Tokens Show More Potential
Because LUNC remains a kind of semi-dormant token, many traders may prefer to look to alternatives with more potential in the near term.
Such potential could come from new meme coins, with several such tokens holding their presales at the moment and accumulating lots of momentum.
This includes WienerAI (WAI), a new Ethereum-based cryptocurrency that has now raised $2 million in its presale.
Thanks @michaelwrubs for showing love!
Wiener AI: Top AI Meme Crypto For 2024 https://t.co/yQgoERaFrK
— WienerAI (@WienerDogAI) May 16, 2024
What’s interesting about WienerAI is that it’s more than a mere meme token, with the coin native to an AI-based trading bot that can answer trade-related questions and offer investment advice.
The bot will help investors identify coins with strong potential, while also helping traders time buys and sells.
On top of this, it will also including an atomic swap feature, so that users can quickly trade any coin recommended by the bot.
There’s also a very helpful function related to avoiding front-running bots, so that traders can stay ahead of the market and avoid losing uot.
So given that WAI is the native utility token of the WienerAI bot, it will grow in parallel with the growth of the latter.
It will have a max supply 69 billion tokens, while holders will also be able to stake the coin for a passive income.
Investors can participate in its sale at the official WienerAI website, where 1 WAI is selling for $0.000708.
Given the coin’s fundamentals, it will likely supersede this low price once it lists on exchanges in the next few weeks.
The post Terra Luna Classic Price Prediction as Binance Burns 59 Billion Tokens – $10 LUNC Incoming? appeared first on Cryptonews.