Terra Classic remains one of the most popular assets in the world of cryptocurrency despite the huge setback suffered by the digital asset in May 2022. Although LUNC price is yet to recover from its historic fall, the numerous developments around the project and the aggressive token burning indicate that the dollar valuation of the Terra Classic native token could rise significantly in 2023.
It bears mentioning that there have been many price predictions for LUNC from several TA experts and renowned crypto punters in recent times. While a popular validator on the Terra Classic network said $0.01 is more realistic in the near term for LUNC, another validator owner predicted $0.001 but with a condition. This condition entailed that 30% of the total supply of LUNC which is 2 trillion tokens must be taken out of supply.
Courtesy of the Machine Learning (ML) algorithm on the crypto tracking platform PricePrediction, another practical LUNC price forecast has been rolled out to further boost investors’ confidence.
With the use of many trusted TA indicators like Moving Average (MA), Relative Strength Index (RSI), and Bolinger Bands, moving average convergence divergence (MACD), average true range (ATR) among others, the Machine Learning algorithm indicated that LUNC would touch $0.000126 on January 1, 2023. PricePredictions 30-day forecast further predicted LUNC to hit the $0.000190 mark on January 21, 2023.
However, within the last 30 days, the price of LUNC decreased by 15.68%, according to the crypto analytic platform, giving investors ample opportunity to fill their bags. At the time of writing, LUNC is trading for $0.0001358, showing an increase of over 6.47% in the past 24 hours.
As earlier reported, Classy Crypto, the popular Terra Classic validator who burned 100% of his commissions earned from running his validator node, pinpointed four crucial actions that would hasten and sustain the rise of LUNC price.
Meanwhile, the entire Terra Classic community continues to put effort into the LUNC burn mission as they believe reducing the hyperinflated token supply would lead to a drastic appreciation in the price of the embattled token.
But in a recent outcome, Binance’s support towards LUNC burning is at risk of being lost due to scam allegations thrown at the independent LUNC development group Terra Rebels by LUNCDAO, a LUNC validator.