The LUNC’s price movement over this period has been encouraging as the token has gotten a total gain of 51% in the past eight weeks as it remains on the course to revival.
The community of Terra Classic has been vigorously working toward bringing the token to a remarkable point following the May Terra collapse.
Following the tragic end to 2022, LUNC has capitalized on the market-wide uptrend this year to regain losses witnessed in the previous year. The asset had crashed to a 4-month low of $0.000121 on December 16 in a persistent bearish downtrend triggered by the FTX blowout of the previous month.
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LUNC’s Price Spikes Over 51% In The Last Eight Weeks
Following the recent plunges of the LUNC to a level of $0.000121, its price has gained over 51% to its current of $0.0001831, as it looks to recoup lost value. It is worth noting that the token spiked to its three-month record of $0.00021106 last Friday in its latest solo rally before facing a roadblock engineered by the bears. Despite the opposition, LUNC is still up 10% in the past 7 days.
It is worth noting that the token hasn’t been tired as it looks forward to fighting to overcome the major at $0.00019, as this move would provide enough support for another rally to the much-coveted $0.0002 price territory.
Analysis has revealed that the token has spiked a total of 995% following its May all-time price of $0.00001675.
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The recent development revealed that a proposal that will allow the LUNC network to get updated from v1.0.4 to v.1.0.5 has recently passed. According to the proposal, The upgrade will introduce several improvements, including certain changes requested by Binance in terms of token burns and re-mints.
Notably, Bull LUNC, a pseudonymous Terra Classic investor and analyst, recently noted that LUNC is set for an imminent breakout due to an accumulation at its new support levels.