One year after the incredible crash in May 2022, Terra Classic (LUNC) reached historic highs. Its first peak occurred on September 1, 2022, when it reached a market cap of $1 billion. Just one week later, it experienced an even bigger move, reaching $1.7 billion. However, things did not go as planned, and 2023 proved to be a challenging year for Terra Classic and its investors. Since the beginning of 2023, LUNC has lost over 60% of its value.
Will LUNC Drop Out of the Top 100?
LUNC is facing the risk of falling out of the top 100 cryptocurrencies on two different lists. While it is on the verge of dropping out of the top 100 list ranked by total market value according to CoinGecko, it currently holds the 92nd position on CoinMarketCap’s ranking, which still keeps it relatively far from the 101st place.
When examining the market movements of the past seven days, Terra Classic has experienced a loss of $37 million. This loss has placed LUNC in the “biggest losers” category of CoinMarketCap’s “Winners and Losers” list, with a decline rate of 9.68%.
As of the time of writing, LUNC’s market cap was $340 million. One week ago, it was valued at $377 million. On January 1, 2023, Terra Classic had a market cap of $900 million, which was half of its value in September 2022.
LUNC Price Predictions
Last week, price predictions for LUNC were published by learning algorithms. The prediction stated that by October 1, the price of LUNC would be $0.000057. Considering that Terra Classic is currently trading at $0.0000586, it can be said that the machine’s predictions are becoming increasingly accurate.
The same artificial intelligence application made a new price prediction. The algorithm predicts that losses will increase in the coming weeks and that the price of LUNC will be $0.000055 on October 31.
Finally, the $0.00005 support level of Terra Classic appears critical. This support level, which attracts investors’ buying orders, can be seen as an area where volume will increase in the altcoin.
