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It seems that the Terra Classic rally has slowed down. But while it has defied all market expectations to climb one peak after another, Terra LUNA hasn’t been slouching either. Terra Luna is up to 215% in the last 24 hours, and the news of this parabolic increase has spread across the crypto market like wildfire. Is it just a fluke, a bull trap to make early investors vulnerable?
Terra LUNA Price prediction
Terra Classic rally continued to earn fame this week, with its supporter doubling down on rallying it. Over the last week, LUNC went on to achieve many highs. Those fundamentals-defying increases put the limelight away from Terra LUNA – the crypto that has so far been accumulating around $1.9.
It all changed yesterday as the crypto of the hard-forked Terra chain jumped vertically to punch through $6.5 and closed the day at $6.8. This 215% increase corresponded with LUNC’s correction by 18.5%.
But what does that mean for LUNA to achieve a wick of $7.8? It means that the crypto is now closer than ever to retesting its all-time high that it achieved on May 31st, shortly after its launch. However, that will only come to pass if LUNA continues to maintain a positive price momentum., which is likely possible as the bulls are showing no signs of slowing down.
The sudden jump in price action for LUNA looks more like an anomaly rather than being backed by new fundamentals. We say this because as we researched the official LUNA page on Twitter with over 1.1 million followers, there is not even a hint of any new development for the project.
The closest new update we could find is the introduction of the $LUNA airdrop interface that has gone live for eligible users.
1/ Happy airdrop day, #LUNAtics! 🪂
The $LUNA airdrop claim interface is now live for all eligible users ⚡
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) September 4, 2022
As we moved into the one-hour time frame, Terra LUNA surprised us as we saw multiple green candles – indicating that the bull force was strong with this one. They are keeping it above the $4.5 support. LUNA is far above the 20-day moving average – indicating that a significant uptrend has been established.
Terra Luna Price Analysis
Parabolic Pumps such as these only indicate one thing – the crypto is extremely volatile. That makes it extremely difficult to forecast its growth in the upcoming days. And if the LUNC’s price action has been any indicator, much of what experts try to predict about this crypto can easily be invalidated.
At best, the current price action results from FOMO; at worst, it is because someone in the Terra sphere is trying to replicate what LUNC did last week.
Terra LUNA’s current market capitalization is up by 214% at $790.24 million. The 24-hour trading volume is up to 2601%. Those trends have allowed LUNA to climb up the crypto charts; it now ranks #57 on CoinMarketCap.
Terra Classic Price Prediction
The Dumping has begun – that’s the only statement that comes out after seeing LUNC’s price trend. Is it because the money is going to Terra LUNA – many whales hold major LUNC stakes, after all?
On the afternoon of August 8th, Terra Classic reached its all-time highs of $0.059 and then corrected quite quickly at $0.0036. While it isn’t a major red flag, it does that the bulls are backing off.
The result of this retrace is the LUNC community going haywire in fears of this short downtrend. It means they won’t be able to push LUNA to the elusive $1 level (like it was ever going to happen).
That said, the LUNC price at the time of writing is $0.00043, which is not too bad, as it signals that some genuine bulls out there are trying to hold on to a pipedream. And if these bulls can hold on a little longer and LUNC is able to maintain the current price momentum, we can see a 5% uptrend.
While the current slump in LUNC’s price action can be brushed off as a dump, we believe that it is healthy for those who still believe in it. While a bearish divergence is present, that doesn’t mean that LUNC supporters can’t hope for a relied bounce. For all instances and purposes, LUNC is still trending in the high zone.
At the time of writing, LUNC still is staying strong at #29 by market capitalization. The introduction of burn tax and staking upgrade has done a lot to prove this crypto a better use case. What remains to be seen is how significant developments these two end up being for this cryptocurrency.
Can Tamadoge beat LUNC and LUNA?
There is another crypto that has set the crypto market abuzz, and it has already proven to be a strong contender for being the best cryptocurrency of 2022. While it has not shown price action again to 1338% growth of Luna classic, it has strong fundamentals backing it up.
Known as Tamadoge, this play-to-earn cryptocurrency was introduced as a presale in the middle of July 2022 and quickly grabbed the attention of memecoin lovers. Packing “doge” aesthetics, Tamadoge sports itself as the New Dogecoin on the Block.
Tamadoge is deflationary crypto that burns 5% of the TAMA tokens at every transaction. Another bullish factor behind this memecoin is the complete lack of any tax. Also, unlike Terra Classic, whose token supply surpasses trillions, Tamadoge only has a supply of 2 billion coins. One billion of those cryptos have been dedicated to the presale, out of which more than 75% have been sold out.
The token is currently in the eighth phase of its presale. The success of this presale makes the case that the final stage will be completed by mid-October. That will land Tamadoge on LBank. The CEX listing would potentially make 10x to 100x gains for the early investors.
Tamadoge is a crypto gaming platform that relies on Tamadoge Pets, NFTs within the ecosystem, and players can buy Tamadoge pets from the Tamadoge Markets. They can feed them, customize them, raise them and then put them to battle in a PvE environment. Based on the skill displayed in the games, the players will win Dogepoints. The highest number of Dogepoints will reward players with Tamadoge tokens.
So far, Tamadoge has raised upwards of $13.5 million. If you want to be a part of that ecosystem and buy it, you can read the official whitepaper here.
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