- Over the past 24 hours, a bullish mood has prevailed surrounding LUNC.
- LUNC’s latest offer could result in a price increase.
Terra Classic (LUNC) It recently surprised investors by recording double-digit profits. Trading volume also surged.
Meanwhile, the LUNC community is ready to submit a proposal, which, if passed, could have a major impact on both the blockchain and the token.
LUNC IS PUMPING
AMBCrypto’s View on CoinMarketCap data In the last 24 hours alone, LUNC has seen an increase of over 10%. While the token price soared, trading volume also increased by over 700%.
Significant price changes often lead to surges in trading volume. This signals increased interest in the market, which suggests that the ongoing trend may continue for longer.
Terra Classic’s one-week price volatility has gained upward momentum after a sharp drop. The popularity of the token has also increased over the past few days as social volume has surged.
Additionally, the upward price trend has helped increase bullish sentiment towards the token, which is evident in the rise in weighted sentiment.
Source: Santiment
LUNC’s funding rate was also high, meaning derivatives investors were actively purchasing the token at higher prices. A related indicator is open interest, which declined despite the price increase.
Each time open interest falls, it means that the likelihood of a trend reversal increases.
Source: Santiment
So, to see if the trend will continue, AMBCrypto took a look at LUNC’s 4-hour chart. Terra Classic’s MACD showed a huge bullish lead in the market, suggesting continued price growth.
However, the remaining indicators are trending downward, indicating that the trend may end soon.
For example, the Relative Strength Index (RSI) showed a sharp decline in the overbought zone and was falling further at press time.
away‘s Chaikin Money Flow (CMF) is also following a similar downward trend, indicating that the token’s rally may be coming to an end.
Source: TradingView
LUNC Community Submits New Proposals
Recently, blockchain security expert Coach Bruce Wrangler posted a tweet mentioning a new proposal for Terra Classic.
The proposal stated that LUNC supply would need to be exhausted quickly to see significant price increases.
$ away Final Plan V2: Burn all bad actors and more than 50% of supply within 90 days.
These props will be submitted for on-chain voting within one week. This is also my final attempt to resolve any ongoing issues. $ away With one comprehensive plan
Here’s an update on the ‘doxx plan’ I came up with… pic.twitter.com/8SK7IzCW4G
— 🧩🐂 𝐂انَّ 𝐁त्त 𝐖𝐖𝐀𝐀𝐀𝐆 (@OX_DAO) February 3, 2024
Another major problem away This means that you face manipulation by anonymous malicious actors such as fraudsters.
If passed, the new proposal could secure the blockchain by quickly eliminating 99% of malicious actors.
Read Terra Classic (LUNC) Price Prediction for 2024-25
This will exhaust approximately 50% of the supply within 90 days, which could have a positive impact on the token’s price action in the coming months.
According to LUNC indicatorTo date, 97.98 billion LUNC have been burned.