Terra Classic Price Eyes 170% Surge Following Massive LUNC Burn
Highlights
- Binance burned 1 billion LUNC, reigniting investor interest recently.
- Total LUNC burned reached 389.25B; supply remains at 6.51T.
- Terra Classic Price eyes 170% rally hinges on breaking $0.0003 resistance soon.
Terra Classic price has surged significantly, aligning with November’s broader crypto market rally. This bullish trend has sparked optimism among investors, with the potential for a 170% rally. The surge is further supported by a rising number of LUNC token burns, which could strengthen price momentum as market interest intensifies and traders eye long-term growth opportunities.
LUNC Burn Fuels Terra Classic Price to Eye Huge 170% Rally
The recent burn of 1 billion LUNC tokens by Binance has reignited investor interest in Terra Luna Classic price. The token’s trading volume on Binance has surged, fueling optimism about its price prospects.
The Terra Classic Foundation announced that 50% of trading fees will be used to buy back and burn LUNC tokens. This strategy aims to reduce the token’s circulating supply, boosting market expectations for a potential price rally.
According to LUNC metrics, 393 million LUNC tokens were burned in the past seven days. Since May 13, 2022, the total burn count has reached 389.25 billion tokens. Despite this, the current circulating supply remains high at 6.51 trillion tokens, with the total supply slightly above 6.52 trillion.
LUNC Price Prediction: Is $0.0003 Within a Reach?
Over the past month, the LUNC price has surged by more than 30%, marking a significant rebound in market activity. The latest LUNC price trades at $0.0001092, reflecting a slight 1.14% decline within the last 24 hours. The token’s value remains volatile, fluctuating between a daily low of $0.0001071 and a high of $0.0001128. Despite this minor dip, the coin has shown a steady upward trend over the past few weeks.
Today, November 19th, the crypto market has seen a slight surge. The BTC price remains strong, hovering above the $91,000 mark. Similarly, Ethereum’s price has stabilized over $3,100.
A shift in market sentiment could drive Terra Classic price beyond its current resistance at $0.00019. Breaking this barrier may open the path toward $0.00025, creating an optimistic investor scenario.
If the cryptocurrency sustains its bullish momentum, a surge to $0.0003 could be within reach. This projected 170% rally aligns with the growing interest surrounding the token’s market activity.
The Moving Average Convergence Divergence (MACD) shows a bullish crossover. The MACD line is above the signal line, further supporting positive sentiment.
Terra Classic’s recent burn events and strong market activity have fueled optimism for significant price gains. With bullish technical indicators and growing investor interest, the token could break resistance levels and achieve a 170% rally in the coming weeks.
Frequently Asked Questions (FAQs)
1. What is driving the recent surge in Terra Classic (LUNC) price?
2. How many LUNC tokens were burned recently?
3. What is the current circulating supply of LUNC?
- S&P Launches Crypto 50 Index But There’s A Catch
- NYSE Owner ICE to Invest $2B in Polymarket as Interest in Prediction Markets Heats Up
- Expert Predicts SOL ETF Approval This Week as Solana ETPs Break All-Time Record
- XRP On-Chain Data Flashes Buy Signal as Analysts Target $4
- U.S. To Start Funding Its Bitcoin Reserve Anytime, Says Senator Lummis as BTC Rally Extends
- Cardano Price Consolidates Below Key Resistance Ahead of ETF Verdict — Is a 50% Rally in Sight?
- Solana Price Eyes 56% Rebound Amid Solana Company’s Massive $530M SOL Acquisition
- Ethereum’s Price Bullish Cycle Resumes as Grayscale Launches Spot Staking ETPs – Is $7,331 Next?
- Pi Network Price Risky Pattern Points to Crash as 14M Coins Leave OKX
- Bitcoin Price Prediction as Exchange Reserves Hit 6-Year Low—Is $150K Within Reach?
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
