{"id":547716,"date":"2023-08-18T01:10:49","date_gmt":"2023-08-18T01:10:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=547716"},"modified":"2024-06-11T14:39:39","modified_gmt":"2024-06-11T14:39:39","slug":"lunc-sheds-13-of-its-value-a-further-retreat-in-the-offing","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/lunc-sheds-13-of-its-value-a-further-retreat-in-the-offing\/","title":{"rendered":"LUNC Sheds 13% Of Its Value – A Further Retreat In The Offing?"},"content":{"rendered":"

Terra Luna Classic (LUNC) finds itself grappling with a significant setback as its price takes a sharp dive. Within the span of just 24 hours, the coin experienced a 13% decline in value.\u00a0<\/span><\/p>\n

The swift sell-off, which began on August 16, triggered a cascading effect that sent LUNC’s price plummeting from its recent peg of $0.00007734 to a new low of $0.00006512. <\/span><\/p>\n

While this may appear as a dramatic swing, it echoes the bearish sentiment that has persistently lingered around the coin throughout the past month.<\/span><\/p>\n

Related Reading: Chiliz (CHZ) Empowers Smart Contracts With Upgrades \u2013 Positive Impact On Price?<\/a><\/div>\n

LUNC Battles To Maintain Essential Support<\/strong><\/h2>\n

For a duration exceeding three weeks, <\/span>LUNC’s price<\/span><\/a> showcased resilience as it managed to keep itself above a crucial support zone resting at $0.000076. This period of relative stability served as a reflection of the overarching uncertainty pervading in the market.\u00a0<\/span><\/p>\n

However, with the breach of this monthly support threshold, experts caution that the existing selling pressure could magnify significantly. This breach also carries the potential to indicate a prolonged period of downward movement for the Terra classic coin.<\/span><\/p>\n

Beyond The Surface<\/strong><\/h2>\n

Scrutinizing the <\/span>Luna Classic community<\/span><\/a> on Twitter reveals a landscape marred by internal conflicts, particularly concerning the governance protocols. <\/span><\/p>\n

Recent days have witnessed heated debates revolving around the proposed implementation of the LUNC DAO validator, which would have assumed a prominent role in leading the chain. Unfortunately, this proposal met its end, and the aftermath was telling \u2013 a substantial sell-off unfolded.\u00a0<\/span><\/p>\n

\n

This is undeniable proof that OX DAO (Formerly known as $LUNC<\/a> Dao) is trying to take over #LUNC<\/a> by dumping the price. pic.twitter.com\/kqtDdwIxbr<\/a><\/p>\n

\u2014 Classy \ud83d\udd2e (@ClassyCrypto_) August 15, 2023<\/a><\/p><\/blockquote>\n

Notably, <\/span>Crypto Classy<\/span><\/a>, a prominent LUNC validator, alleges that the sell-off was meticulously orchestrated by the LUNC DAO itself. The assertion is that the DAO orchestrated deliberate coin sales to incite panic within the investor community, ultimately facilitating coin repurchases at lower prices \u2013 a move perceived <\/span>as an attempt to gain control over the network.<\/span><\/p>\n

Impact On Price Dynamics<\/strong><\/h3>\n

The repercussions of these recent events reverberate through LUNC’s price dynamics. As per <\/span>CoinGecko’s data<\/span><\/a>, the coin currently hovers around $0.00006770. A decline of 2.4% over the past 24 hours coupled with a substantial seven-day slump of 12.5% underscores the mounting strain that the coin is grappling with.<\/span><\/p>\n

<\/p>\n

Terra Luna Classic (LUNC) is currently trading at $0.00006703. Chart: TradingView.com<\/a><\/pre>\n
As the LUNC community grapples with these internal struggles, governance challenges, and potential market manipulation, the future path remains uncertain. <\/span><\/p>\n
Related Reading: Cardano Holder Resilience Tested As ADA Fends Off Bearish Onslaught<\/a><\/div>\n
Investors and stakeholders are keeping a watchful eye on the evolving situation within the LUNC ecosystem, anticipating whether Terra Luna Classic can navigate these tumultuous waters and regain its footing while working to restore trust among its dedicated supporters.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Matthias Hangst\/<\/span><\/em>Getty<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Terra Luna Classic (LUNC) finds itself grappling with a significant setback as its price takes a sharp dive. Within the span of just 24 hours, the coin experienced a 13% decline in value.\u00a0 The swift sell-off, which began on August 16, triggered a cascading effect that sent LUNC’s price plummeting from its recent peg of $0.00007734 to a new low of $0.00006512. While this may appear as a dramatic swing, it echoes the bearish sentiment that has persistently lingered around the coin throughout the past month. Related Reading: Chiliz (CHZ) Empowers Smart Contracts With Upgrades \u2013 Positive Impact On Price? LUNC Battles To Maintain Essential Support For a duration exceeding three weeks, LUNC’s price showcased resilience as it managed to keep itself above a crucial support zone resting at $0.000076. This period of relative stability served as a reflection of the overarching uncertainty pervading in the market.\u00a0 However, with the breach of this monthly support threshold, experts caution that the existing selling pressure could magnify significantly. This breach also carries the potential to indicate a prolonged period of downward movement for the Terra classic coin. Beyond The Surface Scrutinizing the Luna Classic community on Twitter reveals a landscape marred by internal conflicts, particularly concerning the governance protocols. Recent days have witnessed heated debates revolving around the proposed implementation of the LUNC DAO validator, which would have assumed a prominent role in leading the chain. Unfortunately, this proposal met its end, and the aftermath was telling \u2013 a substantial sell-off unfolded.\u00a0 This is undeniable proof that OX DAO (Formerly known as $LUNC Dao) is trying to take over #LUNC by dumping the price. pic.twitter.com\/kqtDdwIxbr \u2014 Classy \ud83d\udd2e (@ClassyCrypto_) August 15, 2023 Notably, Crypto Classy, a prominent LUNC validator, alleges that the sell-off was meticulously orchestrated by the LUNC DAO itself. The assertion is that the DAO orchestrated deliberate coin sales to incite panic within the investor community, ultimately facilitating coin repurchases at lower prices \u2013 a move perceived as an attempt to gain control over the network. Impact On Price Dynamics The repercussions of these recent events reverberate through LUNC’s price dynamics. As per CoinGecko’s data, the coin currently hovers around $0.00006770. A decline of 2.4% over the past 24 hours coupled with a substantial seven-day slump of 12.5% underscores the mounting strain that the coin is grappling with. Terra Luna Classic (LUNC) is currently trading at $0.00006703. Chart: TradingView.com As the LUNC community grapples with these internal struggles, governance challenges, and potential market manipulation, the future path remains uncertain. Related Reading: Cardano Holder Resilience Tested As ADA Fends Off Bearish Onslaught Investors and stakeholders are keeping a watchful eye on the evolving situation within the LUNC ecosystem, anticipating whether Terra Luna Classic can navigate these tumultuous waters and regain its footing while working to restore trust among its dedicated supporters. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Matthias Hangst\/Getty<\/p>\n","protected":false},"author":557,"featured_media":547735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3],"tags":[1144,8686,86067,4735,87704],"class_list":["post-547716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","tag-btcusd","tag-ethusd","tag-lunc","tag-price-action","tag-terra-luna-classic"],"acf":[],"yoast_head":"\nLUNC Sheds 13% Of Its Value - A Further Retreat In The Offing?<\/title>\n<meta name=\"description\" content=\"Terra Luna Classic (LUNC) finds itself grappling with a significant setback as its price takes a sharp dive. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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