{"id":90699,"date":"2024-04-27T00:30:42","date_gmt":"2024-04-27T04:30:42","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=90699"},"modified":"2024-04-27T00:30:43","modified_gmt":"2024-04-27T04:30:43","slug":"terra-luna-classic-price-prediction-as-burn-tax-revised","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=90699","title":{"rendered":"Terra LUNA Classic Price Prediction as Burn Tax Revised"},"content":{"rendered":"
\n
\n
\n
\n
\n

\n Last updated:<\/span>
\n

Terra LUNA Classic Price Prediction as Community Revises Burn Tax \u2013 Can LUNC Reach $100? \/ Source: Cryptonews<\/figcaption>

The Terra LUNA Classic (LUNC) price has failed to push to the north of its 21DMA and is reversing lower, despite the community revising the token\u2019s burn tax.<\/p>\n

LUNC was last trading just below $0.0001050, having spent failed four a fourth successive day to break above its 21DMA.<\/p>\n

The revision to LUNC\u2019s burn tax failed to lift sentiment, probably because the burn rate itself remains unchanged at 0.5%.<\/p>\n

The just-passed proposal changed around slightly what happens to those burned tokens.<\/p>\n

LUNC\u2019s Oracle Pool will now receive 10% of burned tokens. Beforehand, this 10% had gone to \u201crewards\u201d.<\/p>\n

As the broader crypto market struggles, the Terra LUNC Classic price remains at risk of experiencing further.<\/p>\n

The macro backdrop has been a headwind for crypto prices this month. Recent data, including the latest Core PCE report released on Friday, points to sticky high inflation in the US.<\/p>\n

\n

Here is Powells favourite inflation gauge. <\/p>\n

PCE Core Service Less Housing MoM up almost 0.6%<\/p>\n

TOO much.. End of discussion pic.twitter.com\/yEBlWeV1MA<\/a><\/p>\n

\u2014 Andreas Steno Larsen (@AndreasSteno) February 24, 2023<\/a><\/p>\n<\/blockquote>\n

That has forced investors to pare back on Fed rate cut bets. A subsequent rise US bond yields and the US dollar has hammered altcoins, LUNC included.<\/p>\n

The Terra LUNA Classic price is down 34% so far this month, and down over 60% from March\u2019s $0.00002550 highs.<\/p>\n

And bearish technicals suggest that the sell-off could be far from over.<\/p>\n

Terra LUNA Classic Price Prediction \u2013 Where Next for LUNC?<\/strong><\/h2>\n

<\/span>
Chat analysis suggests the Terra LUNA Classic bears are very much in control of the market right now.<\/p>\n

The 21DMA has acted as strong resistance going all the way back to late March. And the Terra LUNA Classic price has subsequently formed a clear downtrend.<\/p>\n

The March low, which LUNC broke below in mid-April, also acted as strong resistance earlier this week.<\/p>\n

These are all strong signs that lower prices are coming for LUNC. A retest of April lows just above $0.00007 is likely in the coming weeks, a 30% drop from current levels.<\/p>\n

The outlook for the Terra LUNA Classic price looks ugly from a technical perspective right now. Source: TradingView<\/figcaption><\/figure>\n

Can LUNC Reach $100?<\/strong><\/h2>\n

<\/span>
If the LUNC community was able to burn enough tokens, then technically yes, LUNC could reach $100.<\/p>\n

Assuming LUNC maintains its current $600 million market cap, LUNC at $100 would imply a 6 million token supply.<\/p>\n

But LUNC\u2019s current token supply is over 5.8 trillion. To get to a 6 million token supply, 99.99999% of the supply needs to be burnt.<\/p>\n

Market cap expansion could help reduce how many token burns would be required to get LUNC to $100.<\/p>\n

But LUNC lost all its utility when the Terra ecosystem collapsed back in May 2022.<\/p>\n

LUNC is basically just a speculative shitcoin at this point. Sure, it could see random 2-3x pumps as risk appetite surges.<\/p>\n

But it\u2019s unlikely to become a multi-billion dollar crypto in the long run.<\/p>\n

Whilst its possible, it remains highly unlikely LUNC will ever reach $100.<\/p>\n

LUNC Alternative to Consider \u2013 Mega Dice Casino (DICE)<\/strong><\/h2>\n

<\/span>
For those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is\u00a0getting involved in\u00a0crypto presales.<\/p>\n

This is where investors buy the tokens of upstart web3 projects to help fund their development.<\/p>\n

These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.<\/p>\n

Many of these projects have fantastic teams behind them and a great vision to deliver a one-of-a-kind crypto application\/platform.<\/p>\n

The team at Cryptonews.com spends a lot of time searching through presale projects to help out investors.<\/p>\n

One such project that analysts at Cryptonews are a big fan of is\u00a0Mega Dice Casino.<\/p>\n

This already well-established crypto casino has launched a presale of its utility token DICE.<\/p>\n

DICE holders get big cashback benefits on their wagers and can also generate passive income via DICE staking.<\/p>\n

The crypto casino is also running a series of exciting airdrops to reward early presale investors.<\/p>\n

\n

$DICE<\/a> has raised over $500,000 in presale so far! \ud83d\udd25<\/p>\n

Thank you to each and every one of you for being part of our journey! \ud83d\ude4f\u2764\ufe0f<\/p>\n

Next up, $1 million! \ud83d\ude80 pic.twitter.com\/N94CDeHBOh<\/a><\/p>\n

\u2014 Mega Dice Casino (@megadice) April 25, 2024<\/a><\/p>\n<\/blockquote>\n

The project is already close to having raised $550,000. And potential investors better move quickly, as when the $1 million milestone is hit, the DICE price will rise.<\/p>\n

Check Out Mega Dice Casino\u2019s Presale<\/strong><\/p>\n

\t Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/em> <\/p><\/div>\n