Santiment analysts call the next “meme king” among altcoins

According to the company’s expert, this niche can be occupied by the Luna Classic token

14.09.2022 - 11:55

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What’s new? Analytics company Santiment called an altcoin that could replace the prominent meme cryptocurrencies: Dogecoin (DOGE) and Shiba Inu (SHIB). According to a report by an analyst known under the nickname mtkachuk, the token of the original Terra Classic (LUNC) blockchain has a chance to get the “meme king crown.” He believes that the LUNC price and volume charts are very similar to the DOGE performance that the meme coin was showing a year ago.

Report by Santiment’s analyst

What did the analyst add? Comparing DOGE and LUNC, the expert noted that “both had an initial run-up, followed by a flat consolidation, after which the real craze began.” That said, social data also points to their similarities. Search queries related to Luna Classic are at the top of the trends.

As of September 14, 11:30 UTC, LUNC is trading at $0,00029411, down by 19,78% per day, according to Binance. The price of the token of the new Terra (LUNA) network is $2,8554, having lost 35,59%.

Herewith, the weekly growth of LUNC exceeded 78% on September 10, which was associated with the approved proposal to burn 1,2% of the transaction amount in the form of tax when transferring tokens on the blockchain. And on September 12, cryptocurrency exchange Binance added LUNC to its digital asset conversion service.

At the same time, the South Korean authorities began to investigate the status of the LUNC token — whether it is a security. Law enforcement officers later accused Terraform Labs founder Do Kwon and five of his colleagues of violating the Capital Markets Act and issued warrants for their arrests. LUNC and LUNA reacted by falling to this news.

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