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All about LUNC’s 394B token burn and how THIS level could be key
The Terra Luna Classic (LUNC) ecosystem has continued its aggressive token burn strategy, recording a total daily burn of 19,674,564 tokens on December 22, 2024. This brings the cumulative burnt supply to an astonishing 394 billion tokens, significantly reducing the circulating supply from a massive 5.5 trillion tokens.
This drastic reduction is a crucial aspect of LUNC’s recovery plan, aiming to support price stability and future growth. The token has seen its price stabilize near $0.00011 amid declining market activity, cautious trading, and mixed momentum.
As the token burn continues, investors are keenly watching the price action for any signs of potential reversals or new trends. On the technical front, LUNC’s price increased by 1.82% over the past 24 hours, trading at $0.0001123 with a 24-hour volume of $37.21 million. Despite this minor upswing, the token has experienced a decline of 12.31% over the past seven days.
The broader 7-day range spans from $0.00009174 to $0.0001344, while LUNC attempts to stabilize near the crucial support level of $0.0001100 with immediate resistance observed around $0.0001200.
It is essential for traders and investors to keep a close eye on the token’s fundamental analysis as it navigates this critical moment.
Source: ambcrypto.com
