Terra Luna Classic has dropped by 1.5% in 24 hours, with its fall to $0.0001288 also representing a 4% loss in a week.
In fact, the altcoin has declined by 30% in the last 30 days, in contrast to much of the market, with most major coins enjoying healthy rises in the last month.
It’s entirely arguable that such a fall is a sign of LUNC’s ongoing long-term decline, with its community seemingly powerless to stop its descent.
But while there may be plenty of better investment options in the market, some followers continue to hold out hope for a recovery.
Terra Luna Classic as LUNC Plummets 30% in a Month – Is It Going to Zero?
LUNC’s chart looks pretty negative at the moment, with its indicators all pointing to further declines in the near term.
For instance, its 30-day average (orange) continues to sink further below its 200-day (blue), providing a signal that selling pressure is only increasing for the token, and isn’t showing any signs of stopping.
Source: TradingView
LUNC’s relative strength index (purple) also looks bad, having declined below 50 this morning, and having struggled to rise for much of this week.
In other words, it’s a pretty depressing time for Terra Luna Classic, with its resistance (red) and support (green) levels also pointing to incoming drops.
Another sign of just how bad things have become is LUNC’s trading volume, which is minuscule at $21 million today.
To put this in some context, it regularly topped $3 billion in the weeks preceding its infamous May 2022 collapse.
This shows how it has never really recovered, and that outside of its loyal supporters, the wider market still doesn’t want to touch it.
Lot of procedural back and forth on Do Kwon’s possible extradition from Montenegro. Now it seems like US may have first crack.https://t.co/qFTnJj89Go
— Jacob Silverman (@SilvermanJacob) April 8, 2024
This week also saw a Montenegrin court approve the extradition of Terra founder Do Kwon, something which has hurt LUNC’s price and future prospects.
Looking at the bigger picture, Terra Luna Classic’s future hinges on whether its community can improve its protocol and tokenomics in a way that restores confidence in it as a cryptocurrency and platform.
So far, they haven’t been able to do this, despite regular governance proposals that introduce tweaks here and there.
It’s possible that no amount of tweaking is going to restore trust in a failed project, although holders certainly aren’t giving up hope.
LUNC does not need any new charts, analysis, news, issues or fomo right now. It will just move according to the rules of the market. The deeper the correction, the higher the increase. LUNC’s various indicators do not require much energy to raise, and it is a point where it can… pic.twitter.com/Qklcf2HZ0c
— Derek (@kimmyboy2) April 9, 2024
The Terra Luna Classic price could recover to $0.00020 in the next couple of months, assuming that the wider market rallies.
More Promising Low-Cap Alternatives
For traders uninterested in or frustrated with LUNC, there are more promising alternatives to consider, with the market currently seeing a number of high-potential presale tokens.
One of these is Slothana (SLOTH), a Solana-based coin that has impressively raised in excess of $10 million in its ongoing sale.
Exciting news for our lazy sloth community! Our airdrop is being prepped for launch, which means the presale is wrapping up soon. With Solana congestion expected to end in the coming days, now’s the time to join the holy Slothana army! #SlothanaAirdrop #PresaleEnding
— Slothana (@SlothanaCoin) April 12, 2024
This figure is a sign of Slothana’s early success in raising its profile and gaining support, as is the fact that its official X account now reaches over 17,000 followers.
There are a couple of reasons why SLOTH has grown like this so quickly, with its team having a pre-existing pedigree when it comes to meme tokens.
Indeed, its team launched the successful Smog (SMOG) token, which isted a couple of months and made big gains over its presale price.
Investors are clearly expecting that SLOTH does something similar, and its presale would suggest that there’s a very good chance of this.
It also helps that Slothana has tapped into some interesting and viral memes, with its use of the humble sloth appealing to retail traders who won’t to make enough to escape the office grind.
New investors can join its sale by visiting the Slothana website, where they can buy SLOTH at a rate of 1 SOL for 10,000 SLOTH (about $0.019393 per coin).
Prepare for the rise of Slothana! With our coffers overflowing, it’s time to embark on a Sloth crusade to establish a global empire. Slothana’s reign is imminent. Anyone who stands in its way will face the wrath of the holy Slothana army! #SlothanaEmpire… pic.twitter.com/TyFjlJTL8q
— Slothana (@SlothanaCoin) April 11, 2024
Its presale is due to end very soon, so latecomers are advised to act sooner rather than later.
Yet once they invest, they may be on course to make a tidy profit, such has been the growth of SLOTH’s sale.
Visit Slothana Now
The post Terra Luna Classic as LUNC Plummets 30% in a Month – Is It Going to Zero? appeared first on Cryptonews.