The post Here’s How LUNC Price Could Be Following The Footsteps Of The SHIB Price appeared first on Coinpedia Fintech News
Terra Classic’s price today is $ 0.000322 with a 24-hour trading volume of $ 1.03B, a market cap of $ 1.98B, and market dominance of 0.21%. The LUNC price has decreased -2.44% in the last 24 hours.
Terra Classic reached its highest price on Apr 5, 2022, when it was trading at $119.01.
However, Bitcoin and Ethereum outperform it when it comes to the risk factor.
This price action prompted David Gokhstein, the founder of Gokhstein media, to compare its price with SHIB. Today, he took to Twitter while anticipating the same energy from the LUNC community. He emphasized the utility of the commodity while comparing it to the early days of the memecoin.
“LUNC reminds me a bit of the SHIB — in a sense of how crazy the community was when they first popped on the scene,” wrote Gokhstein. “But utility is key.”
At first, Gokhstein did not take the token seriously and actually referred to it as a “lottery ticket”. He had also said that LUNC didn’t have any utility. However, just after the release of the Terra Rebels roadmap, the entrepreneur displayed his excitement about the project.
Nowadays, due to the active community and leading search trends on data tracking platforms and dominant volumes, LUNC is seen to be dominating the crypto market. It is worth noting that Shiba Inu was the most popular crypto of 2021 as well.
In September, LUNC showed trade volumes and price actions similar to Dogecoin and Shiba Inu before they went parabolic. LUNC also became one of the top 10 assets by 24-hour volumes, showing trading volumes equal to Ethereum.
Previously, Gokhshtein asked the community to stop mentioning the asset in his feed. He argued that the LUNC project has no solid backing or foundation. “It’s like musical chairs except the last person is holding the bag,” he added.
SHIB is one of the favourite tokens of Gokhstein. The comparison of LUNC with SHIB showed how much the Gokhstein media’s interest is into this token.