Terra Classic Price Continues to Struggle, But These Penny Cryptos Look Bullish

Terra Classic (LUNC) is struggling to regain its footing in the market, with prices falling over 9% in the past week.

LUNC has now closed in the red for six weeks in a row, marking the token’s worst run since April.

However, while LUNC struggles, lesser-known coins Wall Street Memes (WSM) and Launchpad XYZ (LPX) are showing signs of upward momentum in their respective presales ahead of exchange listings in the coming weeks.

LUNC Price Continues Dropping Due to Sustained Bearish Pressure

At the time of writing, LUNC is hovering around the $0.0000612 level – 99.9% lower than its all-time high of $119.18 posted in April 2022.

Since that high, LUNC has been on a sustained downtrend, with only a few bullish intervals providing relief for holders.

Price is comfortably below the 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs), showcasing the considerable selling pressure that LUNC is currently experiencing.

In recent months, LUNC has fallen below crucial support zones around $0.000080 and $0.000075 – with the bearish momentum showing no signs of stopping.

According to CoinMarketCap, these price drops have prompted LUNC to fall to 87th in the site’s list of the world’s largest cryptocurrencies, behind the likes of Huobi Token (HT) and IOTA (MIOTA).

However, CoinGecko sentiment analysis reveals that over 60% of the community is bullish on Terra Classic – suggesting that some holders still believe in potential upside for LUNC.

Terra Website Hack Adds More Fuel to the Selling Fire

One primary reason for LUNC’s continued decline is the recent hacking of the Terra website.

Hackers compromised the Terra.money domain on August 22 and attempted phishing scams on users.

This led the Terra team to freeze the website to protect users – hurting confidence in the struggling coin’s ecosystem.

With ongoing security issues like this hack and the evident lack of faith in reviving the project after 2022’s collapse, it’s no surprise that selling pressure continues to beat down LUNC.

Unless these issues around trust are resolved, many investors will likely continue to exit their positions and send the Terra Classic price even lower in the near term.

Which Penny Cryptos Could be Alternatives to LUNC?

While LUNC continues to struggle, some lesser-known penny cryptos are showing signs of growing momentum.

Two of these low-cap coins to monitor are Wall Street Memes and Launchpad XYZ – both in the midst of highly successful token presales.

Wall Street Memes Launches High-Yield Staking Protocol & Nears Tier-1 Exchange Listings

First up is Wall Street Memes (WSM), which has emerged as one of the biggest meme coin presales of 2023 by raising over $25 million thus far.

Wall Street Memes’ team aims to “tokenize” the anti-establishment sentiment that became popular during the GameStop short squeeze of 2021 through the WSM token.

Early investors can buy WSM through the final stage of Wall Street Memes’ presale, with the token price set at $0.0337.

Once this presale ends, WSM will be launched on “multiple” Tier-1 exchanges – with some in the Wall Street Memes Telegram community speculating that the token could be listed on Binance and Coinbase.

Although the developers have mentioned no specific names, the buzz surrounding WSM suggests that there could be significant demand for the token following its market debut.

Enhancing this demand further is that the developers have now implemented a staking protocol for the Wall Street Memes token, with yields of up to 86% per year on offer.

With WSM receiving backing from popular YouTubers like Michael Wrubel, the stage is set for a potentially successful launch at the end of September.

Visit Wall Street Memes Presale

Launchpad XYZ Offers Gateway to Profitable Investing as Token Presale Gathers Pace

Alongside Wall Street Memes, Launchpad XYZ (LPX) is another low-cap crypto gaining momentum recently.

Launchpad XYZ aims to make crypto and NFT investing accessible to everyone through several innovative features and educational resources.

These features include an AI-powered trading assistant called Apollo, a super-fast trading terminal, and a first-of-its-kind asset ranking system called the “Launchpad Quotient.”

At the time of writing, Launchpad XYZ has raised over $1.4 million through its presale, with investors able to buy LPX (the project’s native token) for $0.0445.

Notably, Launchpad XYZ’s team is offering a limited-time 20% bonus for presale participants who purchase LPX tokens in the next two days – providing an opportunity for investors to acquire extra LPX ahead of planned CEX listings.

As outlined in Launchpad XYZ’s whitepaper, the developers also intend to launch additional features, like an NFT DEX and fractionalized assets exchange, in 2024.

Much like WSM, LPX has attracted attention from the influencer community, with YouTuber Crypto Pablo praising the project in a recent video.

All in all, with the presale’s momentum continuing to grow, LPX looks primed for a fruitful exchange launch in the coming weeks.

Visit Launchpad XYZ Presale

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