According to Santiment, an altcoin could surpass Dogecoin (DOGE) and Shiba Inu (SHIB) as the largest meme token.
This Altcoin will replace SHIB and DOGE
According to crypto analytics firm Santiment, a controversial altcoin will replace Dogecoin and Shiba Inu. According to a recent analysis by Santiment analyst “mtkachuk”, Luna Classic (LUNC), the first Terra native cryptocurrency, currently holds the title of “breast king crown.” Firm analysts have this to say about LUNC in the latest tweets:
Just by observing the price and volume patterns, there is a structure in LUNC now very similar to what happened at DOGE about a year ago: Both had an initial upswing followed by flat consolidation before the real madness began. When examining social data, we come across the following picture:
LUNC-related keywords rank #1 and #8 in their social trends, according to Santiment, which is “another sign of mass audience interest.”
In early May, Terra’s stablecoin TerraUSD (USTC) crashed the Luna Classic ecosystem. The aim of the UST has always been to remain flat against the dollar at a ratio of 1:1. In late May, Terra launched a new blockchain. He named it Terra (LUNA) while renaming the old, defunct Blockchain Luna Classic.
LUNC price expectations
As of this writing, LUNC is currently trading at $0.0002883. The 31st cryptocurrency by market cap has seen a gain of almost 19% in the last day. Santiment claims,
In the next step, if we see a collapse in LUNC around $0.25 per 1000, then if the last leg rises above $0.8, we can safely say that the crypto community hasn’t really learned anything from the past, and it’s only a matter of time.
cryptocoin.comAs you follow, LUNC is currently trading above $0.0002.
With SHIB and DOGE stable, LUNC rally should not be ignored
Given its recent performance, LUNC is now seen as the “meme crypto king.” Another major driver of LUNC’s recent growth is its massive community. Santiment says social dominance increases have led to local highs for “this type of crypto.”
Also, LUNC has a very strong social volume as seen in the chart below. This further highlights the role of the community in driving prices up.
Another indicator of high social growth is LUNC-related keywords that rank high in Santiment’s social trends. This is another sign of intense interest in Terra Classic. This narrative has prompted speculation to find similar patterns between Dogecoin and Terra Classic. Santiment noted that there is an extraordinary similarity between LUNC’s current run and Dogecoin’s 2021 bull run. Both tokens “started an initial rise, followed by flat consolidation, and then the real madness.” As a result, we can say that the social data of the tokens suggests a similar scenario.
