The price of Terra Luna Classic (LUNC) has risen by 3% in the past 24 hours, reaching $0.00009765, while the cryptocurrency market as a whole has remained relatively stagnant. Although LUNC has seen a 14% increase in the past week and a 7% increase in the last 30 days, it has experienced a 32% decline since the beginning of the year, contrasting with the general upward trend of most major tokens. However, the LUNC community has been actively proposing and implementing plans to boost the cryptocurrency, which could lead to a recovery of lost ground.
Continued positive momentum is indicated by LUNC’s recovering relative strength index (RSI) after a slight dip earlier in the week, as well as its 30-day moving average, which continues to rise above the 200-day average. This increase suggests a growing buying demand for LUNC, further supported by the rising support level (green) on the charts, showcasing consolidation around higher lows.
While the overall market remains precarious due to recent enforcement actions by the SEC, LUNC may still experience potential dips in the coming days or weeks. Nevertheless, taking the coin’s history and recent overselling into account, it is due for more upward rallies. In addition, proposals passed by the Terra Luna Classic community, such as creating a test environment for re-pegging USTC and enabling greater parity with the Cosmos ecosystem, contribute to the coin’s favorable outlook.
With these proposals potentially leading to significant gains for LUNC, it could return to $0.0001 in the next few days and potentially reach $0.0002 in the coming months. If a re-peg proposal is implemented, LUNC’s price could rise even further.
There is a possibility of a significant LUNC rally waiting in the wings, but it will likely depend on the re-peg plan implementation, which might not happen for several months. Meanwhile, traders may opt to explore newer altcoins with more potential for immediate rallies, such as presale tokens.
One of the largest presale tokens currently is Wall Street Memes (WSM), a new cryptocurrency related to the meme stocks movement, responsible for the noteworthy 2021 GameStop and AMC rallies. The WSM token presale has raised over $5.4 million, indicating a strong and engaged community despite its lack of clear fundamentals.
With a Twitter following of more than 225,000, WSM has already established itself as a popular meme token before its full launch. The presale’s 11th stage lists 1 WSM at $0.028, expected to rise to $0.0337 by its 30th and final stage. Investors can participate in the presale by connecting their software wallets and purchasing WSM using USDT, ETH, BNB, or fiat currency. Once listed, WSM may follow the trend of other meme tokens, potentially resulting in significant rallies.
Source: Cryptonews
