The Terra Luna Classic Token shows bottom signs after a crash of more than 90% from an all-time high.
Terra Luna Classic (LUNC) Price found strong support for $0.00005385. That's a sign that the coin could be in the bullish breakout cusp.
Potential Catalysts of Rank price
LUNC is hitting 400 billion token burn milestones. The data will be displayed The network has incinerated more than 280 million tokens in the past seven days, burning the total tokens to 400.06 billion.
Over 336.2 billion runk tokens have moved to burn wallets, but almost 70 billion of these coins are burned in the chain. Most of these burns came from Terraform Labs ordered by the US Bankruptcy Court.
The biggest crypto exchange, Binance is also the most active rank burner in the industry. Over the past three years, we have burned over 71 billion tokens and have consistently supported all upgrades.
On the other hand, more madman holders are staining them. That's probably an optimistic indication that the token will bounce back. Rank staking ratio has risen to 15.85%. This is the highest level since November 10th, 2024.
The high staking ratio, especially when the coin is falling, is a sign of very bullishness.
LUNC Prices Show Bottom Signs
The weekly chart shows that the Terra Luna Classic price fell to a low of $0.000054 this month. This was a notable level as the coins did not fall below that in July and September last year. They also failed to fall below prices in 2024.
The last time LUNC prices fell below this level was in June 2022, when it fell to a low of $0.00003440. This decline was also found to be an incorrect failure.
Therefore, it is possible that the Terra Luna Classic Price formed a four-fold bottom. This is a popular bullish inversion sign. A bullish breakout could jump to the next key resistance at $0.0001797, the best swing from last November.
This price is approximately 180% above the current level. Below that level of support, more downsides are shown at 0.000034.
Rank History
Originally known as Luna Token, Lunc Token was created by co-founders of Terraform Labs, Do Kwon and Daniel Shin.
Terraform Labs is based in Korea and launched Luna Token as part of the Terra blockchain ecosystem. This project aims to create a Stablecoin (Terrausd, or UST) via an algorithmic mechanism related to Luna. After UST Stablecoin, which was removed from US dollars in May 2022, Luna's value (current Lunk after rebranding) fell flat. This resulted in a significant loss of value and a collapse of the Terra ecosystem.
A hard fork was then created, leading to the introduction of Terra 2.0, and a new token was issued to replace the old token.
