LUNC (Terra Classic) has increasingly been perceived by many in the crypto community as functioning like a meme coin, and here’s why:
1. Speculative Hype Over Fundamentals
After the original Terra (LUNA) collapse in May 2022, LUNC (formerly LUNA) became mostly driven by community speculation, burn campaigns, and social media hype—similar to how meme coins like Dogecoin or Shiba Inu behave.
2. Low Utility and Unclear Roadmap
While LUNC does have a technical foundation (unlike most meme coins), its practical use case is limited now. The ecosystem largely shifted to Terra 2.0 (LUNA), leaving LUNC mostly in the hands of traders and enthusiasts rather than developers.
3. Burn Narrative
The "burn LUNC" movement has kept it alive, focusing more on reducing supply to pump price rather than on rebuilding utility—again, a meme-coin-like tactic.
4. Community-Driven Price Action
Much of LUNC’s current momentum comes from retail traders and online communities (e.g., Reddit, Twitter/X), not institutional investors or developers.
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