- Terra Classic has topped all other altcoins with increased social engagement and mentions
- Despite the massive increase in active combustion, LUNC’s momentum came close to plummeting
Terra Classic [LUNC] It topped the altcoin market on December 3 in terms of its social activity. According to LunarCrush, a social intelligence tracking platform, LUNC had its community always ready to give thanks for the achievement.
Read Terra Classic [LUNC] predict the price 2023-2024
A breakdown of the details showed that the social contributions amounted to 12.19%, while the commitment rate reached 71.3%. This increase indicates a return of activity across social platforms from the LUNC tent.
The # terraclassic community again today. Let’s take a look at today’s social activity 🔥.
Terra Classic has reached AltRank â„¢ of 1 of the best 4023 coins on the market.
Social Contributors + 21.9%
Social Engagement + 71.3%Insights: https://t.co/igt3vnyzpC pic.twitter.com/zpkdNVyp4G
– LunarCrush (LunarCrush) December 3, 2022
Take all the icons, burn them
The token reaching such heights could be related to the recent historic hit with LUNC burning activity. As of December 1, a LUNC burn hit A.J Unprecedented 6,389,633,879 – an increase of 972,516%.
According to some parts of the LUNC community, Binance, which supported the burn system, could have contributed to the sudden rise. However, the momentum appears to have decreased, as LunaBurnTracker revealed that there was a 100% drop to 3,167,134 LUNC in the last 24 hours.
🔥 Daily burn stats for Friday, December 2, 2022! 3,167,134 #lunch ($569) Burn it! 📉 -100% Sale. 33 burns at 2 BPH. 1 low price = 0.00017959 USD # Luna Byrne
– LunaBurnTracker (LunaBurnTracker) December 3, 2022
For the price, LUNC didn’t react positively to the update. At the time of publication, LUNC is trading at $0.000179. This was a decrease of 2.20% from the December 2 value. On the contrary, its performance has increased in the past seven days by 10.67%, according to CoinMarketCap. Moreover, the rise allowed the token to bring in a market capitalization of $1 billion.
At the time of writing, LUNC has a market capitalization of $1.07 billion. However, it was not the same size. According to Santiment data, it was sized to reject 44.86% in the last 24 hours. Given the decline, this meant that LUNC investors had given up on the increased participation in transactions on the network.
Source: feeling
In terms of price action, LUNC has had relatively good momentum. At the time of writing, the Relative Strength Index (RSI) is at 49.34. This represented neutral ground, as LUNC was not sold or overbought.
For the Moving Average Divergence Divergence Divergence (MACD) indicator, the competition has been heated between buyers and sellers. Based on the daily chart reveal, the strength of the buyer and seller was below zero point chart. This indicates bearish momentum. However, the presence of the MACD at 0.00000492 on the positive pivot means that the buyers have some ability to regain control.
Source: TradingView
improvements
As for its evolution, Santiment open that LUNC pulled toward the back. According to the on-chain information platform, LUNC development activity decreased to 49.34.
In the meantime, this meant that the Terra developers were not actively making notable upgrades to the network. For the whales, this was not the time to increase their holdings as supply dwindled to 41,328.
Source: feeling