Terra Luna Classic (LUNC) has been on a massive bullish run that has led to investors thinking about what this token could be headed to. LUNC is the original token of the old Terra Luna blockchain before the May collapse. Terraform Labs renamed the old LUNA token LUNC, while the new LUNA token maintained the old name.
Terra Classic price gains 17%
Data from CoinGecko shows that LUNC has gained by over 60% during the past two weeks. The gains come from increased buying pressure on the token. The demand for LUNC has renewed investor faith in a project that caused a loss of over $60 billion to investors in May this year.
What is interesting about Terra LUNA Classic’s price movement is that it is barely receiving support from the broader cryptocurrency market. During the past 24 hours, the global cryptocurrency market has dropped by around 2.3%, dangerously at the $1 trillion mark.
Some of the Terra Luna price movement indicators show that the token could be headed towards a decline in the future. The Relative Price Index (RSI) stands at 62, showing LUNC is headed towards the overbought regions. If the buyers start to dump, the selling pressure could erase the gains.
The Moving Average Convergence Divergence (MACD) provides a neutral outlook on LUNC’s price movement. Nevertheless, investors should be cautious of investing in LUNC because of the volatile nature of the token.
The old Terra Luna network collapsed in May this year following the depeg of the TerraUSD (UST) stablecoin. The algorithmic stablecoin lost its peg in early May, and its co-dependence with the LUNA token only spiraled the collapse following the bear market that happened that month.
The depeg of UST and the consecutive collapse of the LUNA token have attracted regulatory attention to the cryptocurrency sector. Regulators have called for more robust audits on projects and for stablecoin issuers to provide details of their stablecoin reserves to ensure investors taking part in these assets are not affected by unforetold circumstances.
Terra Classic Video Analysis
Tamadoge crypto promises strong returns
Tamadoge is one of the leading blockchain gaming projects. However, the token is still under development, with the presale expected to hit $10 million soon because of increased demand from buyers.
Tamadoge is promising to be one of the best play to earn networks. The Tamaverse crypto games platform will provide a way through which players can mint, nurture and battle using their Tamadoge pets to create notable rewards.
Tamadoge plans to transform the meme coin space by providing community utility. By operating in the P2E sector, Tamadoge is tapping into one of the areas expected to take over the web 3.0 & crypto sector in the future.
Tamadoge also comes with solid tokenomics. With a supply of two billion tokens, it will be possible for this token to gain in value if enough demand supports an uptrend.
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