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That’s Why Terra Classic (LUNC) Is More Likely To Clinch $0.01 Price Point Than $1

That’s Why Terra Classic (LUNC) Is More Likely To Clinch $0.01 Price Point Than $1

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Can Terra Classic (LUNC) Reach $0.01 Soon?

The Terra Classic community is chasing the dream of reaching the $1 price point, stronger than ever after the 1.2% tax burn was implemented just a few days ago.

However, within three days of the implementation of tax evasion only about 540 million LUNCs have been burned. That’s an average of 193 million a day, and if nothing changes, 70.45 billion a year. That’s a far cry from LUNC Burn’s predictions. An unofficial Twitter account follows LUNC burning activity. Last week’s numbers predicted that up to 720 billion LUNC could be burned annually.

As such, it puts predictions of a $1 price point out of reach for the foreseeable future, as analyzed by The Coin Perspective show that with a supply of 6.83 trillion, which is the new supply after a year of burning at the current rate, it would need an equivalent market cap of $6.8 trillion (subtracting 720 billion LUNC from the current supply), which is frankly impractical. .

However, $0.01 can be very attainable during this time under certain conditions, which are not so rare in the crypto space. According to data from The Coin Perspective, the project has a market capitalization of about $68.3 billion to reach a price point of $0.01.

Although this is almost 70 times the current market cap, it may not be impossible to achieve, especially in the crypto market bull run. It’s worth mentioning that Dogecoin, generally considered the king of meme money, once had a market cap of around $88 billion in May 2021. To put this into perspective, this surpasses Tether’s current market cap by over $20 billion. Elon Musk’s support for the token is the hype surrounding it, which does little good.

Especially the Santiment Feed recently reported that LUNC shows similar characteristics to other popular meme coins like DOGE and Shiba Inu just before they became parabolic in terms of volume and price action. Add this to the active development team and community of LUNC classic, and we may witness the crowning of another meme coin king in the next bull run.

LUNC is currently trading at $0.0002693, down 4.86% in the last 24 hours. Therefore, an increase to $0.01 represents a 3600% increase.

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