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LUNC has increased by 3.5% over the last 24 hours, with the Terra Luna Classic price hitting $0.0001013 on a day of recovery for the broader cryptocurrency market.
Despite this rebound, LUNC is still down 21% over the past week, 24% over the month, and 20% year-over-year, with these drops contrasting sharply with most leading tokens.
Nevertheless, today’s rise has resulted in a slight uptick in trading volume, which has reached $30 million, indicating that buyers may be returning.
With the market anticipating a potential rally related to the Bitcoin halving, the Terra Luna Classic price could experience further positive developments soon.
Terra Luna Classic Price Prediction as $30 Million Trading Volume Comes In – Can LUNC Reach $1 in 2024?
The chart for LUNC indicates a surge that could lead to sustained momentum in the near future, with its indicators appearing more optimistic than in recent days.
The 30-day average (orange) is starting to trend upwards again after spending most of the past week falling below its 200-day average (blue), suggesting that the coin has reached its lowest point and is poised for a rebound.
Source: TradingView
A similar trend is observed with LUNC’s relative strength index (purple), which, after dropping to nearly 30 in the early morning hours, has surged to 60.
This indicates heightened buying pressure, which is also reflected in the increased trading volume.
However, at just $30 million, this marginally elevated volume is relatively insignificant compared to the volumes seen with major tokens (e.g., BTC at $51 billion today, ETH at $21 billion, SOL at $6 billion).
This modest figure highlights how LUNC is still facing challenges in regaining the trading volumes it experienced prior to its notable collapse in May 2022.
Yet, there remains optimism that the Terra Luna Classic price could recover significantly.
In the short term, it may find support from the broader market, which could turn more bullish as the post-Bitcoin halving scarcity narrative boosts demand for BTC, alongside potential rate cuts from the Federal Reserve.
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In the long run, LUNC may benefit from ongoing efforts within the Terra Luna Classic community to implement protocol enhancements.
Currently, there are serious discussions about forking LUNC to create a version that incorporates more favorable tokenomics and burn mechanisms.
Validators are meeting to discuss and finalize Forked $LUNC Tokenomics tonight
Exciting. A heavy burn component will be included. As you know, the $LUNC scammer validators who exploit holders decided they didn’t want to burn
Forked $LUNC will target 1% of supply burned per week pic.twitter.com/WAuEFYFdLn
— CBW
(@OX_DAO) April 15, 2024
If this initiative is approved and leads to significant improvements, the Terra Luna Classic price could indeed see a recovery this year, potentially reaching $0.001 by the fall.
New Altcoins Provide More Return Potential
As uncertain as LUNC’s future has become, many traders may be increasingly inclined to explore newer coins with greater potential.
While the market is saturated with numerous new and potentially high-risk coins, one method to identify more promising options is to look for successful presales.
Currently, one coin gaining traction is DICE, the native token of the well-known crypto casino Mega Dice.
Mega Dice is already among the largest online casinos in the crypto space, offering a platform with 4,500 games available.
It is now launching its own Solana-based native token, with DICE having a maximum total supply of 420 million tokens.
Welcome to the launch of $DICE, brought to you by Mega Dice!
Our presale has already surpassed the impressive milestone of $350K in just a few days! Our initial goal is set at $1M, and once achieved, price will rise!
Why should you consider joining the $DICE presale?
pic.twitter.com/IwjEbK1sBR
— Mega Dice Casino (@megadice) April 18, 2024
The presale for DICE commenced this week and has already progressed to raise just over $350,000.
What is particularly encouraging about DICE is that its growth will be supported by the concurrent growth and popularity of Mega Dice.
As the native token of the latter, holders will be able to use it for funding and placing bets, while it will also provide exclusive access to various games.
This implies that as Mega Dice gains popularity, demand for DICE will likely increase, which should drive its price up.
Holders will also have the opportunity to stake the token, allowing them to earn passive income in the process.
Overall, such features suggest that DICE could emerge as one of the most popular launches of the year, with investors able to participate in the sale by visiting the Mega Dice website.
Buy DICE Now
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