Terra Classic (LUNC) finds itself at a crossroads in 2024. Despite boasting high liquidity and a potential boost from EVM integration, the token faces significant hurdles before experiencing substantial price growth.
Current State
- Price: $0.000120 (down 2.47% in 24 hours)
- Market Cap: $696.60 million
- Market Dominance: 0.04%
- Circulating Supply: 5.80 trillion LUNC (out of 6.88 trillion max)
- Yearly Inflation Rate: -3.28% (decreasing supply)
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Challenges
- Underperformance: LUNC has dropped 33% in the past year, lagging behind 95% of the top 100 cryptocurrencies.
- Downtrend: Trading below the 200-day moving average suggests a continued decline.
- Limited Momentum: Only 13 green days in the last 30 reflects a lack of consistent upward movement.
- Distance from All-Time High: Being down 100% from its peak indicates significant recovery challenges.
Potential Catalysts
- EVM Integration: Proposal 11978, expected to be approved, could attract new projects and improve performance.
- Decreasing Supply: The negative inflation rate might create scarcity in the long run.
- Strong Community: Terra Classic’s dedicated community remains committed to its revival.
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2024 Forecast
Based on current conditions, analysts predict a trading range between $0.000102 and $0.000223 for LUNC in 2024. Reaching the upper limit would mean a substantial 82% increase. However, achieving this depends on overcoming market obstacles and building sustained positive momentum.
While Terra Classic’s future remains uncertain, the potential benefits of EVM integration and its resilient community offer a glimmer of hope. However, investors must tread cautiously, carefully considering the token’s challenges before making any investment decisions.