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The Terra Luna Classic (LUNC) coin has experienced notable fluctuations in its value over the past few days. On November 11, 2024, the price of LUNC rose by 21% over the week, influenced by intensive token burns and general rises in the cryptocurrency market.
On May 20, 2024, the Binance platform burned more than one billion LUNC coins, bringing the total burned by the platform to 59 billion, which raised the total burned coins to 113.3 billion LUNC. However, this figure represents only about 1.66% of the total supply, explaining the limited impact on the price.
Additionally, on February 3, 2024, the total burned LUNC approached 100 billion, with Binance contributing 2.1 billion coins in its eighteenth burn. This collaborative effort by the Terra Luna Classic community aims to reduce the circulating supply and increase the value of the coin.
Currently, LUNC is trading at a price of $0.00006752, with a daily high of $0.0000681 and a daily low of $0.00006284.
Despite these efforts and developments, analysts remain cautious about the long-term outlook for LUNC, noting that reaching high values like $1 may be unrealistic under current conditions.
