Terra Luna Classic’s 8% Surge: Hope for a Rally or Time to Explore Alternatives?

Intricate blockchain valley landscape, mix of warm & cool tones, futuristic design, hopeful sunset, Terra Luna Classic's rise surrounded by crypto community, hints of an incoming rally, alternatives as thriving new coins, touch of AI-empowered creativity, energized and expectant mood.

The Terra Luna Classic (LUNC) price has risen by 8% in the past 24 hours, marking the one-year anniversary of the infamous Terra crash. Despite this surge and increased optimism within the crypto community, LUNC still remains down 15% in a week and 28% in the past month. Additionally, the coin has lost 37% of its value since the beginning of the year.

The Terra crash, which occurred a year ago, saw both LUNA and its sister stablecoin UST become almost worthless overnight. Nonetheless, the Terra Luna Classic community has been consistently working towards updating the Terra chain, with the hope of an overdue rally for LUNC.

LUNC’s chart indicates an incoming rally, with its 30-day moving average (yellow) rising towards its 200-day (blue), and its relative strength index (purple) remaining above 50, signifying positive momentum. The coin’s support level (green) has also seen an increase in the past couple of days, hinting at a potential breakout.

There has been persistent development on the Terra Luna Classic chain, which includes recent proposals from the Layer 1 Task Force to introduce technical upgrades relating to its use of Tendermint and interoperability with Cosmos. Furthermore, the Terra community accepted a plan to re-peg USTC at the end of last month, which could potentially lead to a significant uptick in LUNC’s price.

However, the plan’s implementation is still in progress, including securing the consent and cooperation of major exchanges. If it does go ahead, LUNC may experience a strong rally in the latter months of the year, eventually moving back to $1 and higher.

On the other hand, some traders may prefer to explore alternative crypto investments that aren’t based on a large-scale restructuring plan. In this regard, new coins, particularly those in presale, offer enticing opportunities for above-average gains this year.

AiDoge, an AI-powered meme-generating platform, is one such example with its Ethereum-based $AI token. The platform has already raised over $5 million in its presale which began two weeks ago. AiDoge aims to launch later this year and combines advanced algorithms, big data, and community elements, allowing users to generate memes and earn rewards in $AI tokens.

Investors can participate in the AiDoge presale by connecting their crypto wallets through its official website. The current price of 1 AI is $0.0000288, and this will increase to $0.00003360 by the 20th and final stage. It’s speculated that the value of the AI token could rise further once listed on exchanges in the coming weeks.

Source: Cryptonews

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