Can Luna Classic reach $1 ?

Can Luna Classic reach $1?

Its already been hot topic since Terra Luna falls from 100$ in its peak, to almost 0.

Many people assume this coin is dead, because depeg from UST, main function about this coin.

And, several days later, Do Kwon, CEO Terralabs, Developer Luna, announce that he will launch new coin, instead revive this old coin, now named Luna Classic.

Since then, Do Kwon, and his friends from Terraform Laps get many critics from community, specially from them who lost hugh number from this accident.

Some report, says that some investor even lost million of dollar in this crash.

And, 2 month later, in this month, Luna Classic still in the price with many zero.

$0,00009 exactly, with total supply almost 6,5T coin. With this total supply, we can say impossible this coin to reach $1.

But, some investor name @VegasMorph in his twitter post proposal in Terra Classic station, to implementation 1,2% tax burn in every transacsion, sell and buy.

If this proposal implement in every major exchange, can Luna Classic reach $1. I will say, maybe.

Because, just imagine this number, if in good day, total transacsion of LUNC reach $70 million, almost $840K dollar in LUNC send to burn, to reduce the supply.

But, will every major exchange implement 1,2% tax burn?

Just time can answer that question.

Since proposal 3568, who ask to implement 1,2% tax burn get announce, almost everyday, there is LUNC holder who spam CZ_Binance (Ceo Binance) to implement 1,2% tax burn in his exchange.

LUNC community assume if exchange like binance do this, other exchange will follow. Because we know, binance is the biggest exchange fot crypto in daily volume.

And now LUNC community work everyday, to implement 1,2% tax burn in the onchain first, maybe after that many exchange follow....just maybe.

But, in this bear market time. Its not risky to just throw your $10 to LUNC, and hold it right?

Just imagine if the price come back to $1. And in the fomo situation maybe above that.

1,2% tax burn implementaion is have purpose to reduce supply LUNC from 6,5T to just 10 Billion.

If the total supply already hit 10 billion, 1,2% tax burn, will shut down, and total supply of LUNC will remain forever.

Just in the case, market cap Luna before depeg is 40 billion. If we come back to that number. LUNC will reach $4.

Can this coin reach that number? I dont know, i just write my thought and my research.

But, if everything goes well maybe.

The challenge LUNC face right now is :

1. Too much supply coin in the circulation
2. This coin now driven 100% by community, which every step will consider together by voting.
3. There is no project left in Luna Classic Blockchain. (Because of that, many people say LUNC is dead, and this coin just meme coin)

But i see the oportunity in this situation.

Shiba Inu is 100% community driver, and there is no project in that coin, when shib is launch, but after time, now they Dex, Nft, and working in the blockchain, named shibarium.

And dont forget, shib kill 5 zero in one year, that mean. If you buy $10 when this coin launch. Right now. You have. $1.000.000.

And i think, LUNC face the same situation, and i dont mind, to throw my $10 to LUNC and holding it.

What about you?

Nb : Not Financial advice. (DYOR)