#LUNC# 📊 Will the price of Terra Luna Classic pump 50% after the weekly 1.6T $LUNC burn?
After the overall market rebound, the price of Terra Luna Classic (LUNC) pumped 10%. This rebound occurred after a large-scale destruction of 1.6 trillion LUNCs within a week. Investors speculate whether this momentum can further pump LUNC, possibly triggering a 50% rebound, as the bullish sentiment in the cryptocurrency market strengthens. 🔸 Will the price of Terra Luna Classic skyrocket by 50% after burning 1.6T this week? The price burning mechanism of Terra Luna Classic reduces the token supply. According to the LUNC index data, over 1.59 billion LUNC tokens have been burned in the past seven days, with a total burn of 402.17 billion since May 2022. The current circulating supply is 650 trillion, slightly lower than the total supply of 651 trillion. Despite the continuous burning, the impact on the LUNA price is still uncertain. Historically, large-scale token burns have caused temporary pumps, but it would take burning 1.6 trillion LUNA to bring about significant changes in the market dynamics. Based on market sentiment and broader cryptocurrency trends, analysts speculate that such a move could push the price of LUNA to pump 50% or more. 🔸 LUNC Price Analysis As of Tuesday, the LUNA price hovered around $0.00006417, with a slight rebound, and recent pump. In the past 24 hours, the value of this cryptocurrency has increased by 2.49%, with a trading volume of 24.77 billion tokens. The relative strength index (RSI) has risen to 43, rebounding from oversold conditions. This indicates an increase in buying interest. The Chaikin Money Flow indicator (CMF) is still holding at a positive level of 0.06, indicating that the inflow of funds is supporting the price recovery. 🔸 Key level observation #LUNC is trading within an upward channel, indicating a short-term pump trend. Further upside can be expected if the price stays above the $0.000065 support level. Today the cryptocurrency market has seen a slight recovery, with BTC hovering near the $100k level. {spot}(LUNCUSDT)
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#LUNC# 📊 Will the price of Terra Luna Classic pump 50% after the weekly 1.6T $LUNC burn?
After the overall market rebound, the price of Terra Luna Classic (LUNC) pumped 10%. This rebound occurred after a large-scale destruction of 1.6 trillion LUNCs within a week. Investors speculate whether this momentum can further pump LUNC, possibly triggering a 50% rebound, as the bullish sentiment in the cryptocurrency market strengthens.
🔸 Will the price of Terra Luna Classic skyrocket by 50% after burning 1.6T this week?
The price burning mechanism of Terra Luna Classic reduces the token supply. According to the LUNC index data, over 1.59 billion LUNC tokens have been burned in the past seven days, with a total burn of 402.17 billion since May 2022. The current circulating supply is 650 trillion, slightly lower than the total supply of 651 trillion.
Despite the continuous burning, the impact on the LUNA price is still uncertain. Historically, large-scale token burns have caused temporary pumps, but it would take burning 1.6 trillion LUNA to bring about significant changes in the market dynamics.
Based on market sentiment and broader cryptocurrency trends, analysts speculate that such a move could push the price of LUNA to pump 50% or more.
🔸 LUNC Price Analysis
As of Tuesday, the LUNA price hovered around $0.00006417, with a slight rebound, and recent pump. In the past 24 hours, the value of this cryptocurrency has increased by 2.49%, with a trading volume of 24.77 billion tokens.
The relative strength index (RSI) has risen to 43, rebounding from oversold conditions. This indicates an increase in buying interest.
The Chaikin Money Flow indicator (CMF) is still holding at a positive level of 0.06, indicating that the inflow of funds is supporting the price recovery.
🔸 Key level observation
#LUNC is trading within an upward channel, indicating a short-term pump trend. Further upside can be expected if the price stays above the $0.000065 support level.
Today the cryptocurrency market has seen a slight recovery, with BTC hovering near the $100k level.
{spot}(LUNCUSDT)