Terra Luna Classic Price Forecast Following Binance’s Burn of 59 Billion Tokens – Is $10 LUNC on the Horizon?

LUNC has experienced a 1% decrease over the last 24 hours, with the Terra Luna Classic price falling by $0.000108, while the broader crypto market has seen a slight increase of 0.5% today.

The altcoin has risen by 1% over the past week and by 6.5% over the month, while it currently shows a modest 16% increase over the year.

Although this annual percentage is relatively low compared to larger tokens, today’s movements coincide with Binance burning just over 1 billion LUNC, raising the exchange’s total burn to 59 billion.

This brings the cumulative burn to 113.3 billion LUNC, and as the Terra Luna Classic community continues to focus on increasing the burn rate and enhancing the coin’s utility, further price increases may be anticipated soon.

Terra Luna Classic Price Prediction as Binance Burns 59 Billion Tokens – $10 LUNC Incoming?

LUNC’s price has shown some stabilization in the past hour, positioning its indicators to suggest potential gains ahead.

For instance, its relative strength index (purple) has climbed to 60 after falling below 50 earlier this morning, indicating the possibility of upward movement over the weekend as it approaches 70.

Source: TradingView

Additionally, its 30-day average (orange) has resumed its upward trajectory above the 200-day average (blue), regaining momentum following a brief period of stagnation over the last few days.

While LUNC is performing relatively well compared to its recent history, it is important to note that its trading volume remains quite low compared to that of major tokens.

At $21 million, it is down 75% from its levels during the first week of May and a staggering 97.5% from its figures in early March.

This reflects a clear lack of interest in LUNC from the broader crypto market, which appears to remain doubtful about the coin’s long-term sustainability.

Despite this skepticism, Terra Luna Classic continues to make gradual strides toward enhancing its appeal 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 a total of 59 billion, bringing the overall LUNC burn count to 113 billion.

However, this represents only 1.66% of the total LUNC supply, which may explain why recent burns have had limited effect on the coin’s price.

Nonetheless, they raise the possibility of LUNC making steady advancements in the coming months, as the Terra Luna Classic community continues to discuss and occasionally approve proposals aimed at 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 a result, the Terra Luna Classic price could potentially reach $0.00015 in the upcoming weeks, and $0.0003 by Q4 2024.

Small-Cap Meme Tokens Show More Potential

Given that LUNC remains somewhat inactive, many traders may opt to explore alternatives with greater short-term potential.

This potential may arise from new meme coins, with several such tokens currently holding presales and gaining significant momentum.

This includes WienerAI (WAI), a new Ethereum-based cryptocurrency that has successfully 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 is noteworthy about WienerAI is that it is more than just a meme token; it is linked to an AI-based trading bot capable of answering trade-related inquiries and providing investment advice.

The bot will assist investors in identifying coins with strong potential while also helping traders optimize their buying and selling timings.

Additionally, it will feature an atomic swap capability, allowing users to swiftly trade any coin recommended by the bot.

There is also a useful function designed to prevent front-running bots, enabling traders to stay ahead of the market and avoid losses.

As WAI serves as the native utility token of the WienerAI bot, it is expected to grow alongside the bot’s development.

It will have a maximum supply of 69 billion tokens, and holders will also have the opportunity to stake the coin for passive income.

Investors can participate in its sale at the official WienerAI website, where 1 WAI is priced at $0.000708.

Considering the coin’s fundamentals, it is likely to surpass this low price once it is listed on exchanges in the coming weeks.

Buy WAI Today

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