LUNC has gained by 3.5% in the past 24 hours, with the Terra Luna Classic price reaching $0.0001013 on a day of recovery for the crypto market as a whole.
Despite its bounce, LUNC remains down by 21% in a week, 24% in a month and 20% in a year, with these declines standing in stark contrast to most major tokens.
However, today’s uplift has brought with it a slight increase in trading volume, which has climbed to $30 million in a sign that buyers may be coming back.
And with the market looking forward to a potential Bitcoin halving-related rally, the Terra Luna Classic price could see further good news soon.
Terra Luna Classic Price Prediction as $30 Million Trading Volume Comes In – Can LUNC Reach $1 in 2024?
LUNC’s chart shows a jump that could lead to sustained momentum in the near term, with its indicators now looking more buoyant than in recent days.
Its 30-day average (orange) is beginning to point up again after spending the best of a week falling further below its 200-day average (blue), indicating that the coin has bottomed out and is ready to rise again.
Source: TradingViewIt’s a similar story with LUNC’s relative strength index (purple), which after dropping to nearly 30 in the early hours of the morning, has leapt up to 60.
This suggests increased buying pressure, which the improved trading volume also signals.
However, at only $30 million, this slightly raised volume is arguably very insignificant in comparison to the volumes commanded by major tokens (e.g. BTC at $51 billion volume today, ETH at $21 billion, SOL at $6 billion).
Its modesty underlines how LUNC is still struggling to recover anything like the volumes it enjoyed prior to its infamous May 2022 collapse.
Yet there’s still hope that the Terra Luna Classic price could recover in a significant way.
In the near term, it may find support in the wider market, which could become more bullish as the post-Bitcoin halving scarcity narrative drives demand for BTC, and as the Federal Reserve cuts rates.
In the longer term, LUNC itself may benefit from ongoing work with the Terra Luna Classic community to introduce protocol improvements.
At the moment, there’s serious discussion to fork LUNC, creating a version that includes more bullish tokenomics and burns.
Validators are meeting to discuss and finalize Forked $LUNC Tokenomics tonight
Exciting. A heavy burn component will be included. As you know, the $LUNC scammer validators who exploit holders decided they didn’t want to burn
Forked $LUNC will target 1% of supply burned per week pic.twitter.com/WAuEFYFdLn
— CBW (@OX_DAO) April 15, 2024
If this passes and results in substantial improvements, then the Terra Luna Classic price could indeed recover this year, potentially reaching $0.001 by the fall.
New Altcoins Provide More Return Potential
As uncertain as LUNC’s future has become, many traders may be much more tempted to look to newer coins with more potential.
While the market is flooded with hundreds of new and potentially risky coins, one way of identifying more promising material is to look for successful presales.
And one coin with a growing sale right now is DICE, the native token of popular crypto casino Mega Dice.
Mega Dice is already one of the biggest online casinos in crypto, with its platform providing 4,500 games to play.
It’s now launching its own Solana-based native token, with DICE having a max total supply of 420 million tokens.
Welcome to the launch of $DICE, brought to you by Mega Dice!
Our presale has already surpassed the impressive milestone of $350K in just a few days! Our initial goal is set at $1M, and once achieved, price will rise!
Why should you consider joining the $DICE presale? pic.twitter.com/IwjEbK1sBR
— Mega Dice Casino (@megadice) April 18, 2024
The presale for DICE opened this week and has already moved through the gears to raise just over$350,000.
What’s most bullish about DICE is that its growth will be underpinned by the parallel growth and popularity of Mega Dice.
As the latter’s native token, holders will be able to use as a means of funding and paying for bets, while it will also grant exclusive access to various games.
This means that, the more popular Mega Dice becomes, the more demand there will be for DICE, which should rise in price.
Holders will also be able to stake the token, earning themselves a passive income in the process.
All in all, such features look like they could make DICE one of the most popular launches of the year, with investors able to join the sale by going to the Mega Dice website.
Buy DICE Now
The post Terra Luna Classic Price Prediction as $30 Million Trading Volume Comes In – Can LUNC Reach $1 in 2024? appeared first on Cryptonews.
