Rising from the ashes is a regular thing for Terra Luna Classic (LUNC). The game-tested altcoin’s community has made sure to continue the token burning tradition since mid 2022, with both volunteer community members and Binance, the globe’s largest crypto platform, putting in work to reduce the remaining LUNC coin supply.
HTX Gives Special Treatment To LUNC On Bitcoin Pizza Day
As the broader crypto community is celebrating the Bitcoin Pizza day, HTX, another popular exchange across the globe, shared a picture of a confident bull covered in pepperoni pizza. Funnily enough, the pepperoni slices were encrusted with various logos of crypto currencies. With Bitcoin (BTC) getting the most shine, LUNC is also present in this spicy mix.
“Reheatin’.. Who Got Da Power 2 Reload?”, – asked HTX millennial intern on X, instantly spiking a heated debate among popular meme coin communities. While uncovering Bitcoin (BTC) & Terra Luna Classic (LUNC) logos on the bull itself, right below his feet were characters representing Shiba Inu (SHIB), Floki Token (FLOKI), Pepe Coin (PEPE) & more.
Also, a humorous reference to Laszlo Hanyecz was made – the man who used 10,000 Bitcoins (BTC) back on May 22, 2010. 16 years later, his pizza delivery service would have cost him hundreds of million dollars (even exceeding $1 billion at top Bitcoin prices). This serves as a cautionary tale about HODLing crypto in the early days & the patience needed for it.
LUNC’s 252% Upswing: One-Off Stunt Or Gradual Ascending?
On the other hand, the meme coin department has always been known for more drastic price swings than the big-caps. Once in crypto’s TOP 5 by global market capitalization, LUNC became akin to popular meme coins like SHIB due to similar deflationary tactics – both communities are constantly burning the over-minted tokens to achieve a long-term price appreciation.
For LUNC, the 252% upswing since last month was something out of the ordinary – while the broader markets got the sideways treatment, Terra Luna Classic (LUNC) have started something that’s been mulled as one of the greatest comeback stories in crypto so far.
Since that happened, Luna Classic’s market value has briefly dipped below the 200-EMA, a key trend-line that’s closely monitored by crypto chart analysts like Derek. As he points out, the 37% price drop since the quarterly high has more to do with the broader crypto market sentiment rather than LUNC community, as they’re continuing the work to rejuvenate the ecosystem.
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HTX (formerly Huobi) posted a Bitcoin Pizza Day themed message that included $LUNC in the visuals. The community saw it as a subtle hint of renewed interest, sparking fresh excitement.
LUNC’s burn rate has been rising steadily. The community and exchanges continue destroying hundreds of millions of tokens daily through the built-in tax and manual burns.
HTX is a major global exchange. Even a small visual nod to LUNC during a fun event like Bitcoin Pizza Day gets interpreted as potential future support — especially while burns are accelerating.
It’s mostly community-driven hype for now. However, any attention from big exchanges tends to boost sentiment and short-term trading volume for Terra Luna Classic (LUNC).
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