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Terra Luna Classic (LUNC) is once again in the spotlight a s the community votes on reclassifying TerraClassicUSD (USTC) from a stablecoin to a Universal Standard Token or a meme coin. This decision could have major implications for the broader Terra Classic ecosystem, influencing investor sentiment and market dynamics. Meanwhile, LUNC’s price action remains sluggish, struggling to break out of its consolidation phase. In this article, we analyze LUNC’s current market structure, key support and resistance levels, and the potential impact of the USTC reclassification vote. LUNC has been trading within a narrow range , showing signs of stability but lacking the bullish strength needed for a breakout. The current price hovers around $0.000063, with resistance forming near $0.000080. The Relative Strength Index (RSI) sits at 44.08, suggesting a neutral to slightly bearish momentum, meaning that LUNC is not oversold but still struggles to attract significant buying interest. The Moving Average Convergence Divergence (MACD) indicator shows a lack of strong bullish momentum, with the MACD line hovering close to the signal line. While the recent small uptick in histogram bars suggests slight bullish divergence, the price action remains weak overall. The proposal to reclassify USTC from a stablecoin to a meme coin or Universal Standard Token has sparked debate in the community. USTC has failed to maintain its peg since the Terra collapse in 2022, and instead of trying to restore its value to $1, the community is considering repositioning it to ensure continued exchange listings and regulatory compliance. If USTC is officially classified as a meme coin, it could attract speculative interest similar to Dogecoin and Shiba Inu. This move could also prevent delisting from major exchanges like Binance, which generates revenue for the Terra Classic ecosystem through transaction fees. However, critics argue that rebranding USTC as a meme coin could further erode confidence in the Terra Classic network. For LUNC , this decision could bring short-term volatility. If investors see the reclassification as a positive move, speculative buying could drive LUNC’s price upward. However, if the community remains divided or regulatory concerns increase, bearish pressure could push LUNC lower. LUNC is currently testing key support near $0.000062. If this level holds, we could see a potential bounce back toward $0.000080. However, if sellers dominate, a drop toward the next major support at $0.000050 is likely. A breach below this level could trigger a bearish trend reversal, pushing LUNC toward $0.000040 or lower. To confirm a bullish reversal, LUNC needs to break and sustain above $0.000080, followed by a push toward $0.000100. Strong volume support is crucial to validate any breakout, and traders should watch for increasing buying pressure before entering long positions. The upcoming USTC reclassification vote will play a crucial role in shaping LUNC’s future trajectory. If the proposal passes and is viewed positively, it could bring renewed speculative interest to the Terra LUNA Classic ecosystem. However, if skepticism prevails, LUNC could continue its downtrend, testing lower support levels. For now, traders should monitor price action near $0.000062 and watch for any breakout above $0.000080. As market sentiment evolves, LUNC’s price movement will likely be influenced by the outcome of the community vote and the broader cryptocurrency market trends.

Following the peak of 2024, Shiba Inu’s market cap has significantly crashed by $12 billion, all the way from $20 billion to now at $7.55 billion. This massive retreat comes as Bitcoin and all other altcoins have seen major price revisions over the past few months. Also, concerns surrounding a US recession have induced further selling pressure on Shiba Inu, amid major sell off in the broader meme coin sector. However, crypto market analysts believe that the recent correction in Shiba Inu price might be nearing its conclusion. Several market analysts believe that the decline in the Shiba Inu price could be nearing its end very soon. As per the recent data from ShibBurn , there’s been a significant uptick in SHIB coin burns, with the burn rate surging by a massive 62,000% in the last 24 hours. This spike was majorly due to a single user transferring 460 million SHIB coins to a dead wallet. Since the token’s launch, over 410 trillion SHIB coins have been burned, reducing the circulating supply to approximately 584 trillion. Another reason behind the Shiba Inu price recovery could be that it could benefit from the broader macroeconomic trends. Historically, both the stock and crypto markets have corrected during periods of macro uncertainty. However, these corrections are often followed by sharp bounce backs. For instance, the markets plummeted when COVID-19 was declared a pandemic but staged a robust recovery soon after. The Federal Reserve’s upcoming interest rate decision could act as a catalyst for SHIB and other cryptocurrencies. With recession concerns mounting, the Fed might signal further rate cuts this year. Historically, cryptocurrencies, including Bitcoin and Shiba Inu, have performed well during periods of monetary easing. Shiba Inu’s ecosystem continues to grow through targeted initiatives designed to boost its utility. On February 21, Shytoshi Kusama announced significant upgrades to ShibaSwap, the project’s decentralized exchange (DEX), marking another step forward in its development, as highlighted in our previous report. Lucie, the marketing lead for the Shiba Inu team, recently unveiled key details about the newly launched SHIB OS. Describing it as a foundational innovation, Lucie emphasized its pivotal role in securing the future of decentralized governance within the Shiba Inu ecosystem, as noted earlier. Despite the heavy uncertainty, the Shiba Inu team remains confident of the coin’s future growth, as mentioned in our previous report. Technical indicators suggest that Shiba Inu could be heading for a strong bullish breakout this year as SHIB has been forming a falling wedge pattern. Amid this pattern, the two descending and converging trendlines have converged at around $0.00001260, while coinciding with the lowest swings of July, August, and September last year. The Relative Strength Index (RSI) for SHIB has broken above the descending trendline that has capped its highest swings since December. Similarly, the Percentage Price Oscillator (PPO) has confirmed a bullish crossover, further signaling potential upward momentum. With these technical indicators aligning, Shiba Inu’s price is poised for a strong breakout. The next key psychological target to watch is $0.000020, representing a potential 60% gain from current levels.

Shiba Inu ($SHIB) is currently recovering from a prolonged downtrend, showing signs of a potential reversal. 🐕 ↕️

Those who apologize are accusing themselves, they say. And in the ruthless universe of blockchain, repeatedly tweeting that everything is fine can be concerning for investors. The Shiba Inu team is once again stepping up to refute doubts about the viability of Shibarium and the strength of its memecoin. In the face of criticism that suggests SHIB is losing momentum, Lucie, an influential figure in the community, warns: those who underestimate this crypto could soon be caught off guard. The skeptics had predicted it: crypto SHIB was doomed to fade into oblivion, like a bad altcoin already seen and surpassed. But here comes the Shiba Inu team, led by communication strategist Lucie, to speak out, just as she did last time in response to market turbulence , to set the record straight. They have underestimated us from the beginning. They doubted SHIB, Shibarium, and the ShibArmy, but we continue to build. A clear message sent to detractors who predicted the imminent end of this project. At the center of this response: Shibarium , the Layer 2 solution of the Shiba Inu project, which aims to offer faster and cheaper transactions. A promise that still struggles to convince some traders, who believe that SHIB remains a mere memecoin without real utility. However, developers claim that Shibarium is evolving and preparing major innovations, including a regular burn system to control the circulating supply. In fact, last week, over 535 million SHIB were burned , with 459 million in a single transaction orchestrated by an anonymous whale. A sign that the deflation strategy is taking shape, even if the results are slow to impact the token price. So, simple cosmetic operation or true scarcity mechanism? Behind the doubts weighing on SHIB, one question remains: what if distrust was a hidden opportunity? The Shiba Inu team wants to believe it, and their message is clear: When the moment comes, we will savor a success that no one saw coming. A bold bet, but one that rests on several strategic pillars. However, the crypto market remains unpredictable, and investors have short memories. Despite a historic peak in 2021, SHIB has lost 85% of its value since, leaving room for doubt. Its future therefore relies on a fragile balance between innovation and mass adoption. Can SHIB be reborn and create a surprise like in 2021? Or will it remain a mere memory of the great memecoin era? At the beginning of March, crypto SHIB fluctuated between hope and uncertainty. While this once-famous memecoin lost 42% of its value a month earlier, the question arises: can the Shiba Inu rise from its ashes ?

Burning tokens represents an approach to decrease the circulating supply which might boost token value. SHIB burned a total of 20,558,510 tokens during the last 24 hours which resulted in a 1012% increase in burn operations. Through the seven-day period the SHIB token burning reached 93,273,100 tokens which resulted in a decrease of 19.12% from last week. The increase in daily burned tokens indicates possibly strategic moves to fight supply inflation. HOURLY SHIB UPDATE $SHIB Price: $0.00001213 (1hr 0.04% ▲ | 24hr -3.60% ▼ ) Market Cap: $7,150,570,559 (-3.64% ▼) Total Supply: 589,255,184,000,877 TOKENS BURNT Past 24Hrs: 20,558,510 (1012% ▲) Past 7 Days: 93,273,100 (-19.12% ▼) Recently, Shiba Inu (SHIB), has experienced fluctuations in price and market activity over the past 24 hours. The latest data reveals that SHIB is trading at $0.00001213, reflecting a 0.4% increase in the last hour but a 3.60% decline over the past 24 hours. With a market capitalization of $7.15 billion, SHIB has seen a 3.64% drop in market value, indicating a bearish sentiment among investors. However, increased token burn activity suggests ongoing efforts to control supply and enhance value over time. During the last 24 hours SHIB’s prices moved from $0.00001155 to $0.00001287 indicating low volatility within its price action. The increase in price over one hour represents minor buying power but the downward daily movement suggests a dominant negative trend. The value hold for SHIB relative to Bitcoin (BTC) went up 4.2 percent while its Ethereum (ETH) value rose 4% which points to improved performance among major cryptocurrencies when USD price fell. Market sentiment has shown short-term decline after prices fell and the market capitalization decreased. The token exhibits strength by maintaining its value within a confined range yet this could represent consolidation which may lead to a new market trend development. SHIB will avoid additional price drops if it can sustain its current support level at $0.00001155. If the price surpasses $0.00001287 it will show rising bullish market sentiment. The financial market shows contradictory signals because prices experienced a temporary downfall while maintaining solid performance against BTC and ETH. The growing number of token burns represents supply reduction efforts and might affect prices through time. The future price direction can be determined by investors through their analysis of key support levels at $0.00001155 and resistance levels at $0.00001287. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.