In recent news, a prediction has been made by prominent cryptocurrency analyst Rexyz that Terra Classic (LUNC) could see a 10x increase in value if its market capitalization reaches that of Shiba Inu. The prediction was shared on Twitter and has garnered attention from the cryptocurrency community.
Shiba Inu, a popular meme-inspired cryptocurrency, has experienced significant growth in recent months, with its market capitalization reaching billions of dollars. If Terra Classic were to reach a similar market capitalization, Rexyz believes that the value of LUNC could increase by 10x its current value.
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Rexyz Says Terra Classic Could 10X
Rexyz suggests that if LUNC were to achieve SHIB’s market cap of $6 billion, and the current amount of staked LUNC tokens were to double, it could potentially result in a price surge 10 times the current value of LUNC. However, he notes this is a theoretical scenario, as various factors could influence the outcome. Currently, the total amount of staked LUNC stands at 961 billion tokens.
Interesting comparison 🙏
Also:#SHIB = $6bn mkt cap#LUNC = $700m mkt cap🤔 If LUNC was $6bn and staking doubled each LUNC could in theory x10 in value, and ⬇️
To burn 75% of:
SHIB = $4.5bn
LUNC = $530mIf burnings your thing, which is the meme to back? 🤔@_Terraport_ 🔥 https://t.co/eSYqx6Ig9t
— Rexyz (@RexYellerBelly) March 27, 2023
Crypromane got a response from Rexyz on Terra classic
Rexyz’s theory came after a recent comparison between Shiba Inu and Terra Classic. Cryptomane, a LUNC community influencer, took to Twitter to assess the possibility of both assets reaching the shared goal of mitigating their extensive supplies.
Let us compare the 2 #DeFi that aim to burn as many tokens as possible to mitigate the problem of too much circulating supply:$LUNC > 6.8 Trillion tokens🔥$SHIB > 589 Trillion tokens🔥#terraport will burn 49% of tokens weekly between 27% $LUNC and 22% $TERRA of its treasury.… pic.twitter.com/8KdS7rFHnT
— Cryptomane (@cryptomaneitaly) March 27, 2023
Terra Classic has a total supply of 6.8 trillion tokens, whereas Shiba Inu has a supply of 589 trillion tokens, which is over 86.6 times greater than LUNC’s. Both tokens share a common goal of significantly reducing their respective supplies to support their price actions.
This prediction comes as interest in Terra Classic and other altcoins continues to grow, with many investors seeking out promising projects with strong potential for growth. As the Terra Classic ecosystem continues to develop and gain traction, it’s possible that the coin could see significant growth in the coming months and years.
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However, it’s important to note that cryptocurrency markets can be highly volatile and unpredictable, and any investment carries inherent risks. As always, investors are urged to exercise caution and conduct their own research before making any investment decisions. While Rexyz’s prediction may be exciting for Terra Classic supporters, it’s important to remember that there are no guarantees in the cryptocurrency market.
Cryptomane believes that LUNC will likely achieve its supply reduction goal faster than SHIB, owing to its significantly lower supply. However, this is merely speculative, as the rate of token burns for both assets will be subject to various factors, including the volume of transactions processed by Shibarium and Terraport’s volume.