You Won’t Believe What Happened to LUNC Despite Huge Milestone! 😱

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Oh dear! Terra Luna Classic’s price has plummeted faster than a watermelon dropped from a rooftop! Even though the network did something *sort of* impressive, hitting a 400 billion burn milestone, the coin’s value is still sliding down like a greasy slide at an amusement park.

This week, Terra Luna Classic (LUNC) hit rock bottom at $0.00007045, marking its lowest dip since August 2024. That’s a massive 55% drop from December’s high, which just makes you want to grab a cup of tea and say, “Well, that escalated quickly.”

But hold your horses—there’s a silver lining. According to the boffins over at LUNCMetrics, the network burned over 400.6 billion LUNC tokens. Yes, you read that right—*billion* with a B! A little pyromania in the crypto world, I suppose. 🔥

In the past week, 1.45 billion tokens went up in smoke, leaving a staggering 6.5 trillion LUNC tokens still out there in the wild. As for Terraform Labs, the bankruptcy bigwigs, they’ve been the top scorers, tossing over 259 billion tokens into the fiery pits of despair as part of their court-ordered cleansing. 🏚️

Binance, that famous crypto giant, also played their part, burning a neat 70 million tokens. Meanwhile, DFLUNC, LunaticsToken, and MEXC have joined the burn club. Burning tokens is supposed to make the rest of them more valuable… or so they say. But hey, good luck with that! 😬

What’s really dragging LUNC’s price down though? Well, it turns out investors have been cashing in their chips. The staking ratio dropped from nearly 16% in November to a sad 15% today. Talk about a lack of commitment! 🙄

And guess what? More and more LUNC tokens are being sent off to exchanges. One wallet alone sent over 1 billion tokens to Cryptex. A top validator (who seems to be on the case) says these massive transfers are tied to market volatility and smart investors consolidating their assets. 🙃

🚨Significant #LUNC funds are being moved to Cryptex exchange (4dzr) – Including several transactions over 1 billion LUNC

🤔What does this mean? Let’s find out👇🏽👇🏽👇🏽

The recent influx of substantial Terra Classic (LUNC) transfers, each exceeding 1 billion tokens, into Cryptex’s…

— 🌠 Terra Classic 🌠 Validator by Lunanauts (@Lunanauts_Lunc) January 28, 2025

Terra Luna Classic emerged from the ashes of the original Terra ecosystem after its dramatic crash in 2022. And while it’s been a bumpy ride, it still manages to hang around in the crypto circus with a market cap of over $450 million. It’s like the little engine that *couldn’t*… but somehow does. 🚂

LUNC Price Technical Analysis

Looking at the daily chart, we can see that Terra Luna Classic once reached a lofty $0.0001793 in December, before plummeting over 57% to $0.000076. It’s like watching a rocket ship launch, then immediately crash into a lake. The coin has now dropped below the trendline that connected the lowest points since August 2024. 🚀💥

Things are looking gloomy with the 50-day and 100-day Exponential Moving Averages crossing over to the dark side. A head and shoulders chart pattern has appeared, and the Relative Strength Index (RSI) and MACD indicators are falling faster than a pancake off a table. 📉

If this trend continues, LUNC might hit $0.000050, which was its lowest point in 2024. But, of course, if the price somehow bounces up past the trendline, well, then all bets are off. I wouldn’t bet on it though. 🤷‍♂️

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2025-01-28 18:53