Terra Luna Classic Price Prediction – Is LUNC Worth Buying at This Price?

cryptonews.com:

Terra Classic (LUNC) is what remains of the original Terra Luna project that crashed in May 2022. The current price of LUNC has fallen to $0.0002307: a loss of 1.09% in 24 hours. 

This notable drop in value has continued amidst token burns by Binance and other crypto players. The rally that followed after the crash seems to have now mostly subsided.

For a price level of $10, LUNC will have to record extraordinary gains of 3,979,841% from its current level. Although it might look impossible to some analysts, it is worth noting that Shiba Inu, increased by 17,959,114% from its all-time low.

The major assumption here, however, is that investors will be willing to risk their capital in a project that collapsed in May 2022. Especially as LUNC no longer supports USTC’s peg to the dollar. Interestingly, these factors do not seem to be phasing traders, as LUNC is frequently one of the most popular coins in the market in terms of volume traded. For example, in the past 24 hours, LUNC has had over $100 million in trading volume. LUNC needs to continue developing its ecosystem and reducing its token supply to be in with a chance of returning to its all-time-high and beyond.

Leading cryptocurrency exchange Binance has continued to burn LUNC tokens from the trading fees it generates. Over 11 billion tokens have been burned so far.

Although the tax burn continues, the rate has reduced to 0.2% from 1.2% after a vote. In this new proposal, 10% of each burn will go to a community development pool. This pool aims at rebuilding the Terra Classic network.

Due to a substantial circulating supply, the LUNC community will burn large amounts of LUNC through various mechanisms. For example, Kaj Labs, a Seattle (United States) developer, is set to burn