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Terra Classic Price Prediction: Challenges and Potential in 2024

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)
LUNC/USD Daily Chart- TradingView

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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.

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