Is Terra Luna Classic Becoming the Next Shiba Inu?
Shiba Inu is nearly on par with Terra Luna. Both are initiatives not based on a solid product. In the last 24 hours, a bulk of coins have recovered impressively, but the market is still down. One such coin recovering commendably is Shiba Inu (SHIB), the most negatively hit coin by the bad market. But the coin is still not completely out of danger yet. The cryptocurrency has to face many risks that, that might make it the next Tera LUNC’s replacement.
Shiba Inu (SHIB) and Tera Classic (LUNC) are almost similar breeds. The two initiatives were not based on a reliable product. The Shiba Inu project’s primary obstacle is its lack of utility. Shiba Inu started off as a meme coin and based its enormous market cap on hype rather than on a real commodity. Since the start of September, 329.8 million SHIB tokens have been burned.
Terra Classic (LUNC) has been trending upward over the past month. The LUNC is facing buying pressure at the moment, driving its price growth. The demand for the coin has been pretty interesting, driving it to soar by 62.11% in a day despite the awful market conditions.
Terra Classic (LUNC) is at $ 0.0003983 at the time of writing.
The traders lost trust in the newly launched Tera (LUNA) since the old token (LUNC) crashed. Many of them thought that even this would vanish. What followed was a slew of changes that decreased the token’s supply and increased its rarity.