Crypto Price Prediction October 2022
Terra Luna Classic (LUNC) has shocked the crypto market yet again, rising more than 15% in the last 24 hours.
LUNC retraced slightly down to $0.000279 after returning to $0.000296, and must now retest $0.00029.Will Terra Luna Classic regain its $0.00032 level in October? OKX has LUNC available.
Prediction of the Terra Luna Classic (LUNC) cryptocurrency price
Moments before Terra Luna Classic (LUNC) broke out today, I warned members in my official discord channel that the price was about to do something special.
Terra Luna Classic had been trading within a broadening descending wedge, a bullish reversal pattern.
When the price rallies and retraces within a descending wedge with diverging resistance and support trendlines, this pattern forms
LUNC is currently trading at $0.000282, up 9.11% since this morning. This could be a short-term retracement before we see more positive price movement.
As we can see, LUNC has found comfortable support around $0.000257 following the recent breakout due to the bullish news surrounding Binance, which will soon be integrating the 1.2% burning and taxing mechanics.
Despite a rash breakout, LUNC fell short of the technical price target of $0.00033.
It is now critical that LUNC maintains the $0.00028 support level to avoid a negative continuation to the downside and re-enter the broadening wedge pattern.
Historically, October and November are strong months for the crypto markets; we could potentially see the entire market sentiment shift from extreme fear to neutrality or greed.
This would cause Bitcoin to rise, dragging altcoins like Terra Luna Classic with it. Today, the Bitcoin price is rising alongside LUNC, but it has yet to break out with conviction.
Despite being in the spotlight again in the last 24 hours, LUNC has still formed a lower high, which is technically bearish.
I believe that the price of LUNC will fall between $0.000329 and $0.000257 in October.
LUNC Needs to Burn More Supplies
To see positive price action in the future, Terra Luna Classic must continue to burn more of its ever-increasing supply of 6,151.07b tokens.More major centralized exchanges in the market, such as Binance, have recently adopted the 1.2% tax burn and mechanics, which is a great start.
The supply of LUNC will decrease as more tier 1 and tier 2 centralized or decentralized exchanges follow in their footsteps.To say Terra Luna Classic has had a wild ride of a year would be an understatement.
First, the cryptocurrency reached its all-time high ($119) in April, only to plummet nearly to zero following the May 12th black swan event.
While most of the community thought LUNC was dead, the stablecoin began to show signs of life again in mid-August.
LUNC has increased by more than 180% in the last 60 days, with an 8.8% drop in the last two weeks.
This recent drop was most likely caused by news that the South Korean government had issued an arrest warrant for Terraform Labs founder Do Kwon.
How Coins Like Tamadoge Are In The Spotlight On The Crypto Pump
To say Terra Luna Classic has had a wild ride of a year would be an understatement.
First, the cryptocurrency reached its all-time high ($119) in April, only to plummet nearly to zero following the May 12th black swan event.
While most of the community thought LUNC was dead, the stablecoin began to show signs of life again in mid-August.
LUNC has increased by more than 180% in the last 60 days, with an 8.8% drop in the last two weeks.
This recent drop was most likely caused by news that the South Korean government had issued an arrest warrant for Terraform Labs founder Do Kwon.
What can we expect from Luna in the future, given its volatility and controversies? Can the token reclaim its former glory, or will it only get worse from here?
According to experts, it may be better to consider alternatives such as Tamadoge.
Price Prediction for Terra Luna Classic (LUNC) 2022-2025
At the time of writing, LUNC is trading at $000275, a 1.4% decrease in the last 24 hours. The current market capitalization is $1.9 billion.
Terra Classic outperformed the vast majority of the crypto market in August, returning nearly 500% to summer investors.
LUNC has been able to maintain the $0.00016 range for nearly two months but is now struggling to re-achieve the $0.0003 target.
But even if it does, will it be able to sustain it?
According to some experts, it will.
The main reason for this is Binance's recent announcement that the platform would begin supporting Luna Classic's burning mechanism. Analysts interpreted this as a bearish signal.
Furthermore, Binance's CEO stated that the platform would eliminate spot and margin trading fees for LUNC/BUSD and LUNC/USDT.
Fees will be converted into LUNC tokens before being sent to the primary burn address. This means that Binance will cover all expenses, not the platform's users.
The crypto community believes that this information will propel LUNC into another bullish trend, pushing the price per LUNC token to $0.000362, effectively breaking the $0.00035 resistance.
If Terra Classic maintains its current momentum, it could end 2022 around the $0.0005 mark.
In 2023, if the crypto market begins to steadily recover, we can expect most cryptos, including LUNC, to recover.
However, given the ongoing controversies, Luna Classic will have a much more difficult time scaling new heights.
If the token can regain investor trust, it could end in 2023 for $0.0013.
The long-term price (for 2024 and 2025) is more difficult to predict because Terraform Labs is very likely to focus solely on the Terra 2.0 project.
Some platforms predict that LUNC will return to $0.008 in a few years, but nothing is certain.
Tamadoge is available on OKX.
Tamadoge, According to Experts, is a Better Alternative.
Despite being one of the market's top performers in August and September, LUNC is still a long way from its April high, and investors aren't ready to fully trust it again.
Binance has stated its support for Luna Classic's burn mechanism, which will have an effect on the price of LUNC in the short run, but what about the long run?
The future of Terraform labs appears bleak right now, with Do Kwon "on the run" from authorities and Interpol just launching its own warrant.
As a result, analysts believe that investing in other coins may be a much better idea right now, at least until the dust settles with Do Kwon.
Having said that, everyone is recommending Tamadoge, the latest addition to the meme coin market, as a suitable alternative.
Tamadoge made headlines in the community just a few weeks ago when it raised $19 million in its presale phase, weeks ahead of its initial target date.
Tamadoge is a deflationary P2E meme cryptocurrency with an NFT store built in and its own Metaverse, the Tamaverse.
The project also has one distinguishing feature that distinguishes it from other meme coins: real-world utility.
TAMA is the ecosystem's native governance token, and it serves as the primary currency for platform transactions, trading, staking, and other activities.
Tamadoge has all the ingredients to dethrone Dogecoin and Shiba Inu as the market leader in meme coins, which is one of its most promising aspects.
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For example, it addresses the issue of high supply and limited utility that these two meme coins are experiencing.
Tamadoge's main selling point is the P2E game, which revolves around caring for digital Tama pets in the form of NFTs.
Players can obtain these pets by minting Tama NFTs, after which they can buy them food, clothes, and accessories, and train them for battles in the battle arena. The idea is loosely based on Tamagochi, a popular pet game from the 1990s.
Players earn Dogepoints and receive rewards from the game's Dogepool by winning battles and missions.
Tamadoge may appear to be too good to be true, but the project is 100% safe and "rug pull" free, having been KYC'd by CoinSniper and audited by SolidProof for intelligent contracts.
The Positive Sentiment is Strengthened by an Excellent First Day of the OKX Listing
Tamadoge received its first major CEX/DEX listing on the OKX exchange a few days ago, and the first day was spectacular for TAMA.
Tamadoge nearly reached a $100 million trading volume in one afternoon, with over 230 million tokens traded.
TAMA tokens can be purchased on both the CEX and DEX OKX platforms, so if one fails, the other can be used as a backup.
First-time OKX members can even enter to win a $10,000 mystery box with just a $50 deposit.
The price of a TAMA token is currently around $0.022, which is excellent given that the project is still in its early stages.
Over the next few months, investors can expect numerous other CEX/DEX listings (LBank has already been confirmed) as well as a variety of features such as the Tama pet store (scheduled for Q4 of 2022).
All of this is likely to have a significant impact on the price of Tamadoge, which is why experts believe that now is the best time to get in on the project and lock in the low price before it explodes.
Tamadoge is available on OKX.
Some analysts believe that 50-100x returns are possible by the end of the year.Tamadoge is available on OKX.
The Verdict
The Terra Luna Classic has seen some success in the last month or so, but its shady history and controversial founder are preventing it from truly exploding and reaching new ATHs.
While it may be interesting protection for speculative trading investors, it has little long-term potential.
Having said that, Tamadoge appears to be a far superior option.
Tokenomics, utility, NFTs, the Metaverse... Tamadoge possesses all of the characteristics required to succeed in the volatile cryptocurrency market.
If the predictions for Tamadoge to explode by the end of the year come true, you'll be sorry you didn't buy TAMA tokens at the current price.
