Terra Luna Classic price has soared by more than 5% in the past 24 hours, reaching as low as $0.00016077 as the broader cryptocurrency market stagnated over the same period. Its current level marks a 0.5% decline over the week but a 23% gain in two weeks, however a 7% decline from last month.
LUNC’s progress today was mainly driven by the validation of an initiative to establish a working group with the aim of stimulating the growth of the cryptocurrency. This although the whales that rushed into the altcoin after the last drop is also a factor to consider. And with the positive dynamics of the community looking to scale up their efforts to support the Terra Luna Classic ecosystem and reduce its supply, the cryptocurrency could see further gains in 2023.
Terra Luna Classic Price Forecast: LUNC up 5.6% – are there whales?
The LUNC chart shows that it is currently enjoying a slight bounce, with its Relative Strength Index (purple) rising above 70 in the past few hours. This indicates rising momentum, as the past 30-day moving average (red) has broken above its 200-day average (blue), forming a “golden cross” that could herald further gains.
Based on its recent history, LUNC was poised for a rally as its RSI fell just below 30 as the market entered the year 2023. However, this same history showed that for every small move higher, LUNC plummeted rapidly thereafter, and has done so fairly consistently since September.
It should be noted that the month of September was characterized by the introduction of a tax burn mechanism. This mechanism then burned 1.2% of all transactions in LUNC, which had the consequence of creating a significant expectation and a price increase.
This optimism was further strengthened in early October when Binance announced the introduction of its LUNC transaction fee burn mechanism. However, those initial expectations have since been somewhat cooled, in part because the mastering mechanics haven’t really made a dent in the 6.87 trillion LUNC supply, but also because the community has struggled to agree on how to move things forward. for the project.
For example, mid-October was the time to approve a proposal to reduce the canal tax to 0.2%, by sending 10% of the taxed amount to a community pool for developers. The idea behind this proposal was to stimulate the development of the Terra Luna Classic network, but reducing the burn rate hurt investor morale.
Despite the friction over how best to support Terra Luna Classic, progress continues to be made. The last 24 hours have seen the acceptance of a proposal to set up a task force to find ways to move the network forward.
The confirmation of this proposition is probably the main reason for LUNC’s bullish move today. Of course, the community that still revolves around this cryptocurrency is awaiting further results and many continue to hope for a gradual climb towards the dollar threshold.
Some members of the LUNC community have offered fairly realistic price targets for 2023, while others are still looking for a x100 (or 10,000%) by year’s end, which would bring its price down to $0.016077.
Even with a lower target, there will be a significant burn this year. As of this writing, the total amount of LUNCs that have been burned is 37 billion, or 0.5% of the total circulating supply.
New altcoins with high short-term ROI potential
Investing in LUNC is necessarily a long-term calculation. Hence, for investors who prefer immediate returns, it would be more interesting to look elsewhere, especially presale projects which also rank as the most dynamic sector of the crypto ecosystem in 2022.
To take two of the more notable examples, Lucky Block (LBLOCK) and Battle Infinity (IBAT) recorded increases of 6000% and 3000% respectively earlier this year, from their initial price of $0.00015 during the presale. Tamadoge (TAMA) is one of the other projects that achieved outstanding results with an increase of more than 1,800% after its listing on the OKX platform in October.
Of course, the conditions must be favorable for other pre-sale projects to enjoy similar earnings once listed on the stock exchange. However, it is important to keep in mind that the three projects selected below have strong fundamentals and particularly attractive characteristics, which gives them every chance of having an excellent year in 2023.
Fight (FGHT)
Running on the Ethereum blockchain, Fight Out (FGHT) is a brand new move-to-earn (M2E) project that combines real-life training with metaverse and Web3 technology. Building on the premise of previous M2E industry apps like STEPN, this project aims to reward users for a wide range of physical activities, including boxing, bodybuilding, and yoga. This by offering personalized lessons on its application as well as in the partner gyms of the project.
After launching last month, its presale has already raised over $2.5 million, with 1 FGHT equaling $0.0166. Participants must have a Connect Wallet or MetaMask to participate, plus the fastest participants will have the chance to win a 50% bonus on their participation.
Click here to visit the official Fight Out website
Click 2 Exchanges (D2T)
Dash 2 Trade is an intelligent trading platform that will be launched in Q1 2023 and will provide real-time indicators. The project is also based on the Ethereum blockchain and aims to offer investors of all levels a wide range of resources and tools to best support them in their trading experience.
The D2T Token Sale has raised over $12.4 million and will close in less than three days, due to phenomenal interest from investors and the entire crypto ecosystem. Listings have already been announced with several exchange platforms such as BitMart, Changelly Pro and LBANK Exchange for early 2023, with a first listing starting January 11.
Click here to visit the Dash 2 Trade official website
C+Load (CCHG)
Powered by the Binance Chain, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle charging stations, aiming to democratize the carbon credit market. The project has launched the sale of its native token, the CCHG, just before Christmas, the latter will be used within the network by owners of electric vehicles to be able to pay for recharging.
C+Charge will also reward its users with carbon credits when they charge their electric vehicles at specific stations, these rewards will also take the form of the project’s second native token, the Goodness Nature Token (GNT).
Click here to visit the official C+Charge website