The Terra Luna Classic price slid by 0.5% in the past 24 hours, while a 6% drop marked a poor week for LUNC. This comes in the wake of a several month decline, spearheaded by a 9% decrease in the past fortnight. Notably, since the start of the year, LUNC has fallen by a substantial 43%. In comparison to other major cryptocurrencies like Bitcoin, Ethereum and XRP, which have experienced sizable gains, this narrative seems at odds. Additionally, the downturn saw LUNC’s market capitalisation drop below $500 million, a first since September 2022.
The dire state of LUNC’s value predicates on significant USTC re-peg developments to spur recovery. However, technical indicators indicate an impending rebound. LUNC’s relative strength index has begun to rise, hinting at a recuperation of momentum. However, LUNC’s support level continues to deteriorate, alluding to a potential drop to $0.000070 should it dive past the $0.000080 support level.
Despite the bleak picture painted by its price history, LUNC remains active in terms of development, pointing towards a long-term recovery strategy. With new development proposals continuously being accepted and platforms being built, LUNC’s story is far from over. In fact, the possibility of a return to $0.0001 by the end of the year is plausible given a bullish market scenario.
However, if LUNC continues to idle, traders looking for new opportunities might find prospects in emergent altcoins. A presale token dubbed Evil Pepe (EVILPEPE), an ERC-20 meme coin, has gained traction, raising over $1.3 million within a week. The coin, representing an evil twist on the popular Pepe meme, has engaged a growing community of holders by making 90% of its total supply (6.66 billion EVILPEPE) public. With such a substantial portion of EVILPEPE’s supply in the hands of investors, the probability of a significant dump is minimal, leading to long-term viability.
The presale of EVILPEPE tokens is available on their official website, with each token costing $0.000333. However, this price may climb once listed on exchanges. Remember, crypto-assets come with inherent risks. Use this information to make informed decisions rather than as investment advice.
Source: Cryptonews
