Terra Luna Classic Price Holds Steady
Terra Luna Classic (LUNC) maintained its price on Thursday after community members voted against a controversial proposal.
LUNC surged to $0.00006545, reflecting a 20% increase from its lowest point this month and 40% higher than its lowest level in 2025.
Proposal Rejected
The voting led to the rejection of a proposal to establish a sub-DAO consisting of four separate DAOs, each with specific responsibilities:
- Security and chain stability
- Communication and marketing
- Documentation
- Mediation
Each sub-DAO was intended to operate on a voluntary six-month term. Although the majority of voters leaned towards approval, the proposal failed as 38% opposed it, surpassing the 33.4% threshold for a veto.
Mr. DiamondHandz, an anonymous LUNC validator, led the campaign against the proposal, fearing it would allow for power grabs and favoritism within the community’s leadership.
Future Considerations
The LUNC community is currently considering a significant shift that would reclassify TerraUSD (USTC) from a stablecoin to a meme coin, acknowledging its current trading status and low chances of regaining its peg.
LUNC Price Analysis
The daily chart indicates that LUNC reached a low of $0.00005650 earlier this month—the lowest since February. This has resulted in a quadruple-bottom formation with a neckline at $0.0001792.
Additionally, a bullish divergence pattern has formed, with technical indicators like the awesome oscillator and percentage price oscillator showing upward trends.
Consequently, the combination of these indicators suggests potential price increases, although a dip below $0.000056 would negate this bullish outlook.
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