Terra Classic Dominates Meme Coins List

Following the meteoric rise of meme currencies headed by Dogecoin (DOGE) and Shiba Inu (SHIB) in 2021, interest in the two assets appears to have decreased in accordance with the general cryptocurrency price change. Terra Classic (LUNC), the extinct Terra (LUNA) ecosystem’s old chain, looks to be taking the throne.

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According to Santiment’s analysis, LUNC experienced significant growth when the price fell to near zero, and its movement has increasingly paralleled DOGE’s direction.

According to the analysis, LUNC is seeing a new wave of crowd attention, with investors pouring more money into the asset.

Interestingly, both tokens experienced an initial run-up before entering a flat consolidation phase, which was followed by a resurgence of substantial interest.

DOGE daily chart. Source: CoinCu

Similarly, interest in LUNC has mirrored social trends, with LUNC-related terms accounting for the first and eighth positions on Santiment’s tracker as of September 8, indicating increased public interest. Based on this history, the analysis predicts that LUNC, like DOGE and SHIB, will crash.

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Following Terra’s demise, LUNC has emerged as one of the best-performing cryptocurrencies, with substantial buying pressure as investors seek to reclaim their former glory.

However, on the 24-hour chart, LUNC is witnessing a sell-off, with losses of 17.95%, a scenario associated with likely investors cashing out.

LUNC daily chart. Source: CoinCu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.