In the past 24 hours, a surge of 5% has been noticed in the price of LUNC, indicating a rise of 13% in the last week. However, the coin still remains down by 36% since the beginning of this year. This statistic has drawn the market’s attention towards the slowing progress of the LUNC community in developing re-pegging strategies for its sister stablecoin USTC.
The coin seems to be in a rough phase with disagreement over upgrade proposals pertaining to USTC’s reverse splitting and reducing the staking undelegation period of LUNC. Thus, the question of when LUNC will witness a significant recovery remains uncertain. However, the indicators hint a potential short-term gain for the cryptocurrency, which could be an excellent buying opportunity for potential investors.
Technically, LUNC’s relative strength index stands at 60, indicating a possible upsurge due to the influx of buying momentum. Also, the coin’s persistent 30-day moving average below its 200-day average suggests a progressive shift towards a more optimistic situation. However, the considerable distinction lies in the LUNC community’s ability to draft an effective plan for the coin and its affiliated stablecoin, USTC’s price inflation.
In recent times, some progress has been recorded, like validators agreeing on creating a test environment for new updates, those associated with USTC re-pegging and LUNC burning. However, tangible progress is yet to be seen. Persistent disagreements within the community, leading to the rejection of numerous potential proposals, bear testimony to the prevalent discord within the Terra Luna Classic community. Thus, it might take more time for LUNC to witness a substantial gain, even though a rise to $0.0001 in the upcoming weeks, and possibly $0.0002 or $0.0003 by the year-end, can be expected.
For investors seeking shorter term and significant gains, presale tokens have proved to be potential candidates. Chimpzee, an Ethereum-based platform, shows promising fundamentals. The platform incentivizes sustainable consumption habits by offering shop-to-earn and trade-to-earn features, providing an opportunity for its users to have a significant impact on the world.
Chimpzee has pledged 10% of its CHIMPZ’s supply to charitable causes, establishing its unique stand among other platforms, and attracting increasing numbers of investors. The ongoing presale of its native CHIMPZ tokens have seen a vigorous start by raising over $850,000 already. With the current cost being $0.0007, the price is predicted to rise to $0.000775 in just over four days and a listing price of $0.00185, which means a potential gain of 164% to the investors.
Disclaimer: Crypto involves high risks. This text is intended merely to provide information and does not provide any investment advice. There’s potential to lose all of your capital.
Source: Cryptonews
