Can Terra Classic (LUNC) hit 1 cent?

As the cryptocurrency market made a surprising upward move earlier this week, turning many assets’ weekly charts green, the same happened to Terra Classic (LUNC), and a question arises as to whether this cryptocurrency is capable of one day surpassing the price of one cent.

Indeed, Terra Classic, which is the rebranded version of LUNA, the native crypto asset of the disgraced blockchain platform Terra, might have what it takes to accomplish this, given that LUNA’s all-time high (ATH) was at a whopping $120, although this occurred before the crash that led to its rebranding.

Terra Classic price prediction

Judging by the artificial intelligence (AI) algorithms over at the crypto analytics platform CoinCodex, LUNC is far from an optimistic price target of $0.01 and will be for a long time – at least in the next few decades, and the algorithms are still strongly bearish regarding its future.

Specifically, they predict the price of LUNC to reach $0.0.00006112 by October 24, 2024, which would represent a modest increase of 1.03% to its current price, with the same target – $0.00006112 by the end of 2025, $0.0000000006192 by the end of 2030 (a decline of nearly 100%), with further, stronger drops in the decades to come.

Terra Classic price analysis

In the meantime, Terra Classic is changing hands at the price of $0.0000605, down 1.22% in the last 24 hours, while being up by 7.93% across the previous seven days but dropping 0.49% on its monthly chart, as per the latest data retrieved on October 25.

On the whole, it is theoretically possible that LUNC could someday hit the coveted $0.01, although it represents a serious challenge. Even with a burn rate of 90% and a price growth of 50% each year, it would still take six to 10 years for it to reach 1 cent. Additionally, the AI algorithms remain bearish.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source