LUNC Drops 15.94% Amid Whale Moves and Major Network Upgrades, Still Up 80% This Week

Terra Luna Classic (LUNCUSDT) experienced a significant price decline of 15.94% in the last 24 hours, with the current price at $0.00005169 according to Binance data. The drop follows high volatility earlier in the week, which was attributed to rapid price rallies driven by substantial token burns, short squeeze liquidations, and major network upgrades such as the Terra chain v2.18 and v3.6.0 upgrades. Recent whale transfers and continued community initiatives, including support for security-focused upgrades and ongoing LUNC burns, contributed to bullish sentiment but also resulted in overbought conditions as indicated by technical indicators. As market activity cooled and trading volume decreased to $154.32 million, LUNC's price corrected from its previous highs, with circulating supply at approximately 5.5 trillion and market capitalization near $290.76 million. Despite the 24-hour decline, LUNC remains up over 80% in the past week, reflecting ongoing interest from both traders and the community.