The value of Terra Luna Classic, commonly referred to as LUNC, has been steeply diving, with its price reflecting an 8% slump over the past week, a 6.5% decline over the last month, and an eye-watering 81% decrease over the year. This ongoing deterioration in value is breathing new life into the scepticism that has long clouded the token’s prospects. The Terra Luna Classic community has made several attempts to stem the fall and rejuvenate its ecosystem, but these have failed to dispel the dominant suspicion.
The technical indicators do not bode well for LUNC, with its 30-day exponential moving average stubbornly skirting below its 200-day average. Instead of cresting upwards, it persists in its downward march. LUNC’s relative strength index lurks just below 40, a disheartening figure that’s moderate bounce from near 35 could not remedy. There is an apparent lack of momentum hinting at an imminent recovery despite a long period of being oversold. These observations paint a gloomy picture, signalling a far-extended drop which if unaddressed might ultimately prove lethal for LUNC.
A stark drop in its 24-hour trading volume, which plummeted 97.8% from about $500 million to a meagre $11 million in just a year’s span highlights a substantial dip in market interest. The Terra Luna Classic community’s sustained efforts to push forward governance proposals intending to kickstart major changes have yet to bear fruit. The latest proposition centres on freezing a wallet housing 800 million USTC, yet adoption is far from guaranteed, and even certainty of acceptance doesn’t translate into immediate implementation. In addition, LUNC is anticipated to tumble further, potentially reaching a depth of $0.000030 by the year-end.
On the brighter side, crypto-enthusiasts are shifting focus to emerging altcoins with seductive prospects. Of particular interest is the latest presale coin, TG.Casino (TGC), a decentralized casino platform fusing social media with online gambling. Having already launched its platform and boasting a unique spin on the popular online casino concept, TGC is swiftly gaining traction. The promise of a strong and vibrant community, fostered through Telegram, and a robust gaming experience pave the way for TGC. With a hard cap of 100 million, the TGC presale is receiving 40% of the release, appearing highly attractive to investors willing to risk the potential highs and lows of the volatile crypto market. All signs point to an initial surge as the token lists on exchanges. Disclaimer: Crypto assets are high-risk, and loss of capital is a possible outcome. This information is for educational purposes only and not investment advice.
Source: Cryptonews
