#LUNAClassic Trending on Twitter as (LUNC) Up Over 1000% Since June
Terra Luna Classic (LUNC) is currently outperforming the rest of the crypto market as it is now up over 80% in September due to the token burn news.
Terra Luna Classic seems to be in a bull market of its own at the moment, already up over 1000% since June 2022.
Currently trading at $0.0004101, owners and traders are speculating that $0.0005 will be on its way soon. The catalyst for this positive price action is due to the proposal to apply a 1.2% token burn to each LUNC transaction, which is why the price has risen.
The market cap for LUNC is now $2.5 billion, and there is no doubt that the bulls will chase $3 billion.
#LUNAClassic trends
One of the most popular crypto Twitter traders @follis_ discovered that #LUNAClassic was trending last week when the price had risen over 200% from its June low.
Terra Luna Classic relies heavily on the community which has recently added enormous value to the network (similar to a meme coin).
Looking at Binance’s LUNC/BUSD spot trading pair, the 2022 low was on June 9 at $0.000041. This was the golden opportunity to realize over 1000% gains if you bought the lowest price.
It makes you wonder how much higher Terra Luna Classic (LUNC) can really go from here, we’ve already seen a whopping 10x during a crypto bear market. As the price rises, the upside potential decreases and the risk becomes higher for new owners.
Unfortunately, many retail investors with a lack of trading experience expect the price to rise to $1. This is technically not possible as the market capitalization must exceed 6 trillion dollars. This is over six times the total valuation of the crypto market capitalization.
Could 1.2% transaction burns and Twitter trends really accommodate such a price increase? Probably not.
Terra Luna classic video analysis
I think a pragmatic approach is to look at where the Terra Luna Classic sat previously before the May 2022 Luna crash event.
Some are optimistic “Luna Classic” holders, expecting it to at least regain its previous market cap of $40 billion. This was when Terra LUNA had a circulating supply of 350 million and had reached an all time high of $119.
It is very complicated to predict how long it might take for the 1.2% LUNC token burn to reduce the Terra Classic supply by enough to actually create a massive impact on the price.
Update – #TerraClassic, #LUNC and #TerraClassicUSTC have also now started trending on Twitter along with #LUNAClassic.
A new deflationary crypto I’ve been watching closely recently with huge upside potential is Tamadoge (TAMA). It may be that LUNC has expired its upside potential now, Tamadoge has yet to hit the crypto markets and has a huge expectation to pump once it is listed on CEXs.
Tamadoge is quickly selling out pre-sales and now has over 53,000 Twitter followers @Tamadogecoin. You can learn more about the Tamadoge roadmap and white paper by clicking here.
