The market sentiment for Terra Luna Classic (LUNC) remains bearish, with the token trading at $0.0001319, reflecting a 0.16% decline in the past 24 hours. Over the last week, LUNC has plummeted by 20.73%, and its 24-hour trading volume has decreased by 15.64% to $54.4 million.
The shrinking trading volume signals waning investor interest in the token. Nevertheless, some analysts anticipate a significant rally for LUNC, akin to XRP’s recent surge. This optimistic outlook hinges on LUNC breaking above the critical $0.00018 resistance level.
Analysts project a potential target of $0.0005 for LUNC, fueled by the ecosystem's increasing transparency in governance and growing community-driven initiatives.
Additionally, a recent burn of over 3.1 billion LUNC tokens, as reported by CNF, has captured investors’ attention. This substantial burn event is expected to renew interest in LUNC, potentially driving further price gains before the end of the year.
