Despite the bearish start, Terra Classic (LUNC) and TerraClassicUSD (USTC) have been standout performers in the cryptocurrency market, sparking a wave of excitement and speculation within the altcoin community. Latest data from Santiment reveals significant price gains positioning USTC as the top trending token leader and fueling discussions of a potential ‘fear of missing out’ (FOMO) among traders. Here are the details…
USTC and LUNC rose
Surprisingly, TerraClassicUSD (USTC) has taken the lead in social trends, placing first among the top trending token leaders. According to Santiment’s latest data dated November 28, USTC experienced a staggering 198% price increase in the 48 hours to that date. This unexpected increase has sparked great interest and speculation in the crypto world. Santiment used the following statements:
TerraUSD and TerraClassic are trending among traders after major price increases. Notably, USTC, which was originally designated as a stablecoin pegged to $1, reached a high of $0.0758. After their collapse in 2021, FOMO may be returning here in 2023.
Santiment’s team emphasized the importance of USTC’s rise, especially given its original definition as a stablecoin pegged to $1. The coin reached as high as $0.0758, a notable achievement after facing difficulties in 2021. A resurgence of FOMO in 2023 is suggested as a potential turning point for USTC.
Altcoin is experiencing a short-term decline
While Terra Classic (LUNC) experienced a 21.74 percent decline in the last 24 hours, the cryptocurrency still managed to show a remarkable performance. Current data, as of November 28, indicates a significant gain of 25.21% over the past seven days and an impressive increase of 46.93% over the past month. Although LUNC’s current price of $00000947 reflects a decline from its recent peak of $0.000124, social metrics show continued interest in the cryptocurrency. Investors can find potential ‘dip buying’ opportunities by considering the resistance shown by LUNC despite the short-term pullback.
As a result, the recent successes of Terra Classic (LUNC) and TerraClassicUSD (USTC) have defied bearish market trends, attracting the attention of investors and enthusiasts alike. As the crypto world continues to evolve, these standout performances raise intriguing questions about the potential resurgence of FOMO in 2023. It is crucial to approach cryptocurrency investments with caution, as the market remains speculative and past successes do not guarantee future results. Readers are reminded that the content presented here is not investment advice and that investing always carries inherent risks.
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Interesting Analysis: These 2 Altcoins Trigger FOMO!