Is Terra Classic a new Meme piece? Is the LUNC price ready for the moon?

Jerra Classic is building a mighty storm in the cryptocurrency market as the token has surged more than 250% in September so far. The terra classic (LUNC) has seen an incredible increase of 463% in the last month.

The crypto community continued to push LUNC due to its new staking service and token burning feature. The hype around LUNC continues to mount and he’s ready for the moon anytime soon.

LUNC is the new Meme piece of this era

LUNC is the renamed version of Terra Classic, and it has caught the attention of crypto pundits and analysts since its launch. LUNC made its bullish dominance among other altcoin projects amid the crypto winter. LUNC’s recent dominance is reminiscent of the upward rally of popular meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) last year.

According Santiment Prospects, LUNC’s recent uptrend is similar to last year’s meme coin journey. Santiment said, “In the past, the crown of the meme king belonged to $DOGE, $SHIB, $SAFEMOON and others. But today there is no doubt that the name of the game is $LUC.

The long-awaited 1.2% consumption strategy is behind LUNC’s bullish momentum. Terra’s recent recommendations and developments regarding its governance, upgrades, staking, burning, and other impactful network enhancements have driven LUNC’s prices up. Terra Classic has launched an advanced governance alert bot that notifies users of all governance activity on terra earth Blockchain network Followers: 0 See profile network.

Is the LUNC price ready for the moon?

There is huge social hype and activity around LUNC, and the community is turning to Terra. LUNC transactions have increased by 550% in the last 24 hours, with a transaction volume of $3.4 billion. The price of LUNC soared 71% in a single day.

According to CoinMarketCap, Terra Classic (LUNC) is currently trading near $0.0005. The community believes that Terra Classic will arrive soon and will reach the first short-term target of $0.01. The LUNC community has burned over 3.5 billion tokens and staked 529 billion LUNCs.

Following specific indicators on the price chart, LUNC is likely to dump. Technical indicators show that there may be a price correction in the future. On September 8, the Relative Strength Index (RSI) broke through 90, a highly overbought level. The longevity of LUNC’s bullish momentum may soon come to an end. However, some analysts believe that the price of LUNC will continue to increase following its recent and upcoming developments.