has been surging on an almost ridiculous bullish activity in the past weeks. It was trading among the top 30 cryptocurrencies by market cap according to CoinMarketCap.
At press time, it was available at $0.00037 after a late surge today diminished its daily losses to just 4%. The token has risen miraculously by over 3,000% since its crash in mid-May. One of the key reasons for this tremendous rise is the 1.2% tax proposal which has received approval from the Terra community.Considering the growth of the token recently, many are beginning to call LUNC the “meme crypto king.”Another key driver of LUNC’s recent growth is down to its huge community. Analytics platform Santiment stated in a recentMoreover, LUNC has a very strong social volume as seen in the chart below. This further emphasizes the role of the community in driving prices higher.
also claimed that there is a spectacular similarity between LUNC’s current run and Dogecoin’s 2021 bull run. Both tokens had an “initial run-up, followed by flat consolidation, after which the real craze began.”