The Terra Luna Classic price has surged by 50% in the past 24 hours, with its jump to $0.00011916 coming on a day when the cryptocurrency market as a whole has actually fallen by 1.5%.
LUNC is now up by 84% in the last 30 days, making it one of the best-performing top-100 coins over this period.
It seems that traders are buying the altcoin in response to even more impressive surges from associated stablecoin USTC, which has ballooned by nearly 300% today, on the basis of re-peg proposals that now seem to be taking effect.
As such, LUNC could potentially see even if further gains in the coming days and weeks, compensating for the heavy losses it has incurred this year.
Terra Luna Classic Price Prediction as LUNC Rockets Up 50% in 24 Hours – Can LUNC Reach $1 Soon?
As a coin that has accelerated by 50% in a day, it’s no surprise to see that LUNC’s indicators are all in highly bullish positions.
Its relative strength index (purple) has just touched 80 and looks like it could peak at close to 90 before the current rally loses steam.
Source: TradingView
LUNC’s 30-day average (yellow) has also begun climbing rapidly, with the indicator set to overtake the 200-day average (blue) very soon, something which can indicate further breakouts.
Perhaps most bullish of all is the coin’s 24-hour trading volume, which has gone from under $20 million to over $600 million almost overnight.
This increase suggests that whales have finally returned to the token, buying it up in larger quantities and triggering a more general rally.
Whales are waking up and jumping into #LUNC
— Bull.Lunc (@Bullluncdao) November 27, 2023
Of course, with whales it’s never certain what kind of endgame they might have, in that they may ride LUNC for only a short time, or could just as conceivably end up holding it for the long haul.
The Terra Luna Classic community would certainly like to think it will be the latter, and it’s possible that it could be, at least judging by recent developments with regards to re-pegging USTC and boosting LUNC’s price.
Indeed, USTC has risen to $0.066342 overnight, helped by recent proposals to limit its supply.
For example, last week saw the acceptance of a plan to halt all minting of USTC, meaning that its supply is likely to decline over time, especially in conjunction with earlier proposals to burn the stablecoin.
Our $LUNC and $USTC weekly burn numbers have come in.
We had a bumper week, with GIGANTIC burns in both.#LUNC finished the 7-day period with 702M #USTC finished the week with 2.2M
We are on track to have the biggest month with regards to the #LuncBurn movement… pic.twitter.com/40SVd2IRTa
— titan2022 (@titan20221) November 27, 2023
Such proposals have now resulted in a situation where burn totals for both LUNC and USTC have reached their highest levels to date.
For this reason, the Terra Luna Classic price is likely to continue rising, potentially reaching $0.00020 by the end of the year.
Other High-Potential Altcoins
LUNC may be one of the most promising alts in the market right now, but it isn’t the only one, with several presale tokens also looking like they could rally big once they list on exchanges in the next few weeks.
Possibly the most eagerly anticipated listing will be Bitcoin Minetrix (BTCMTX), a stake-to-mine platform that has raised $4.4 million in only a few weeks.
Exploring #BitcoinMinetrix!
Revolutionizing decentralized $BTC mining, we’re reshaping cloud mining using #BTCMTX #Tokens, ensuring utmost security and transparency.
Simplified like never before! pic.twitter.com/7viEwF044L
— Bitcoinminetrix (@bitcoinminetrix) November 27, 2023
As a stake-to-mine platform, Bitcoin Minetrix will enable its users to mine actual Bitcoin (BTC) by staking its native BTCMTX token.
Staking BTCMTX will earn users mining credits, which they can then spend on Bitcoin hash power, in turn earning themselves mined BTC.
This could make Bitcoin Minetrix a very profitable platform, as could the fact that users who stake will also receive newly issued BTCMTX.
As a token, BTCMTX has a max supply of four billion, with 1.4 billion going to the sale.
#BitcoinMinetrix bringing essential news!
Over $4,200,000 raised! pic.twitter.com/QWHKasvilZ
— Bitcoinminetrix (@bitcoinminetrix) November 21, 2023
Investors can buy some now by going to the Bitcoin Minetrix official website, where 1 BTCMTX costs $0.0119.
Such a price could rise exponentially once the sale ends and the token lists, given that Bitcoin Minetrix looks set to make Bitcoin mining more accessible to thousands.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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