The price of Terra Luna Classic (LUNC) has risen by 3% in the past 24 hours, reaching $0.00009765 as the cryptocurrency market as a whole barely moves within the same timeframe.
LUNC is now up by 14% in the past week and by 7% in the last 30 days, although the altcoin has declined by 32% since the start of the year, in contrast to most other major tokens (which have risen).
But with the Terra Luna Classic community recently proposing or even passing a number of plans to boost LUNC, the cryptocurrency could soon make up for lost ground.
Terra Luna Classic Price Prediction as LUNC Becomes Best Performing Coin of the Week – Can LUNC Hit $1 in 2023?
LUNC’s indicators continue to point towards further gains, with its relative strength index (purple) recovering from a slight dip earlier in the week to return to 60 yesterday.
In other words, LUNC still has good momentum, as also signaled by its 30-day moving average (yellow), which continues to ascend further above its 200-day average (blue).
Such rising suggests that more buying demand is entering LUNC’s market, while the positive picture is also helped by the coin’s rising support level (green), which reveals it consolidating around ever-higher bottoms.
Given that the wider market remains in a precarious state at the moment (because of the SEC’s recent enforcement actions), there remains a possibility that LUNC could end up dipping again in the coming days and/or weeks.
However, when looking at the coin in itself, it’s likely due some more rallies, given how oversold it has been in the past few months.
LUNC’s prospects have also been helped in the past couple of weeks by recent Terra Luna Classic proposals, including one that was passed and that will result in the creation of a test environment for re-pegging USTC.
On top of this, yesterday also saw the acceptance of a proposal that will enable the Terra Luna Classic blockchain to achieve greater parity with the Cosmos ecosystem, making it interoperable with more blockchains and apps.
Ultimately, this update could help the Terra Luna Classic ecosystem to grow once again, developing more apps that increase demand for LUNC.
Combined with the USTC re-peg proposal, the next few months could therefore witness some significant gains for LUNC.
From its current price of $0.00009765, it’s likely to return to $0.0001 in the next few days, before reaching $0.0002 in the next few months.
And if a re-peg proposal is put into plan, LUNC could rise even higher, losing some decimal places on its march towards regaining $1.
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Other Potential Gainers
While there remains a possibility of a big LUNC rally somewhere down the line, this will need to wait for the re-peg plan to be put into action, something which may not happen for months.
In the meantime, traders may prefer to look at newer altcoins that show more potential for significant rallies in the near term, with presale tokens being among the most promising cryptocurrencies in this respect.
One of the biggest presale tokens right now is Wall Street Memes (WSM), a new cryptocurrency associated with the meme stocks movement that was responsible for the infamous 2021 GameStop and AMC rallies.
Wall Street Memes launched the presale for its WSM token last week, and it has already raised more than $5.4 million.
While WSM has no obvious fundamentals to speak of, the fact that it has been able to raise so much money so quickly attests to the healthy community it already has at its disposal, and which it will have to support its price once it lists.
Its Twitter account already has more than 225,000 followers, again showing that it’s already a popular meme token, even if it hasn’t actually launched fully yet.
Its presale is currently in its 11th stage, with 1 WSM costing $0.028, with this price rising to $0.03370000 by the time the offering reaches its 30th and final stage.
Investors can join in the fun by visiting the official Wall Street Memes website and connecting their wallets, with WSM purchasable using USDT, ETH, BNB or fiat currency.
And once they’ve acquired some WSM, all they will have to do is wait for the coin to list, with the recent trend for meme tokens suggesting the possibility of some big rallies.
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