Terra Luna Classic (LUNC) Approaches 410 Billion Token Milestone Amidst Market Optimism
Terra Luna Classic (LUNC) is nearing a significant milestone, with its circulating supply approaching 410 billion tokens.This development has sparked renewed interest in the cryptocurrency, particularly as the community intensifies its efforts to reduce the token supply through various burn mechanisms.
Recent technical analyses indicate a bullish trend for $LUNC . The token has rebounded from a key support level at $0.000057, breaking above a descending trendline that had been in place since January. Additionally, LUNC has surpassed its 50-day moving average, with both the Awesome Oscillator and the MACD indicators showing bullish divergence. If this momentum continues, LUNC could target the next resistance level at $0.0001, representing a potential 60% gain from current levels.
The LUNC community remains active in its efforts to reduce the token supply. Binance has resumed its burn program, contributing to a total of 113.3 billion LUNC tokens burned. Moreover, the implementation of the Tax2Gas upgrade has increased the burn rate per transaction from 0.5% to 1.5%, further accelerating the deflationary pressure on the token's supply.
As of the latest data, LUNC is trading at approximately $0.000062, with a market capitalization nearing $1 billion.Analysts forecast that if the current burn initiatives and positive market sentiment persist, LUNC could see significant price appreciation in the coming months.
Investors and community members are closely monitoring these developments, hopeful that the combined efforts will lead to a substantial recovery for Terra Luna Classic.
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