Crypto analytics firm Santiment has named a controversial altcoin as the leading meme coin. Dogecoin (DOGE) and shiba inuof (SHIB) He argues that he can take his place.
A Santiment analyst known as Mtkachuk says in a new analysis, Luna Classic (LUNC), the native token of the original Terra blockchain, now holds the “meme king crown.”
“Just price and volume to models If we look at it, there is a very similar structure to what happened at DOGE a year ago at LUNC right now:
Both were bullish, followed by a flat consolidation, and then the real madness began. A similar picture emerges when looking at social data.”
Santiment also noted that LUNC-related keywords rank #1 and #8 in their social trends, which is “another sign of mass interest.”
Koinfinans.com As we reported earlier, Luna Classic’s ecosystem collapsed in early May after Terra’s leading stablecoin, TerraUSD (USTC), left. The UST was intended to be a one-to-one exchange against the dollar. Terra announced a new blockchain with a successor in late May, calling it the original Terra (LUNA), and its old crashed blockchain became Luna Classic.
LUNC is trading at $0.000282 at the time of writing. The 32nd-ranked crypto asset by market cap has lost nearly 21% in the last 24 hours. LUNC’s recent volatile price action showcases its potential as a meme coin.
Santiment concluded the analysis with these words:
“Next step, if we see a drop in LUNC around $0.25 per 1000, then rebound above $0.8 with the recent rise, we realize that the crypto community has really learned nothing from the past. and that it’s only a matter of time before an exact replica of today’s event happens again. We can say with confidence.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.