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Terra Luna Classic Community Unanimously Passes Major Proposal, LUNC To $1?
Terra Luna Classic community has unanimously passed a proposal to remove the forked mainline modules from the Terra Classic blockchain. The developers have aimed to improve LUNC maintainability, reduce technical debt, and align with the broader Cosmos ecosystem. LUNC price to $1 speculation rises in the community as the burn date for TFL assets approaches.
Terra Luna Classic Passes Forked Modules Removal Proposal
Text proposal 12142 “Removal of Forked Modules from Terra Classic” is approved by the Terra Luna Classic community as the votes have surpassed the pass threshold. Developer group OrbitLabs proposes to remove the forked mainline modules from the Terra Luna Classic blockchain to improve maintainability, reduce technical debt, and align with the broader Cosmos ecosystem.
The proposal has received 99.97% “Yes” votes, indicating unanimous support from validators and delegators. It also saw some ‘No with veto’ and ‘Abstain’ votes. Validators such as Allnodes, Stakely, HappyCattyCrypto, and others voted in favor of the proposal.
The forked versions not only raise operational costs but also increase the risk of missing important security updates, the proposal said. OrbitLabs stressed that without action, Terra Luna Classic would face growing security risks, higher expenses, and diminished competitiveness in the evolving crypto landscape.
As CoinGape reported, the Terra Classic proposal plan involves two phases, first focuses on updating the consensus engine and the Cosmos SDK. By doing so, Terra Classic will be more in line with the latest security features and innovations from the Cosmos ecosystem.
On the other hand, the second phase will involve upgrading the Wasmd contract system, ensuring compatibility with existing smart contracts, and minimizing disruptions during migration. Notably, if the proposal passes final approval, the timeline includes eight weeks for phase one and another ten weeks for phase two.
LUNC and USTC Price to Jump
LUNC price climbed 3% in the last 24 hours, with the price currently trading at $0.00009199. The 24-hour low and high are $0.00008911 and $0.00009238, respectively. Moreover, the Terra Luna Classic trading volume has increased by 15% in the past 24 hours, indicating a rise in interest among traders.
Terraform Labs will burn billions of LUNC and USTC tokens from the wallets next week, as per the bankruptcy court order. This has fueled LUNC to $1 speculation in the community.
Meanwhile, USTC price climbed more than 2% and 4% in a week, with the price now trading at $0.0223. However, the trading volume saw a 15% decline in the last 24 hours.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Behdark has predicted that the XRP price can reach $28. This prediction follows his Elliot Wave theory analysis, which also showed when the crypto will reach this double-digit price target.
When XRP Price Will Reach Double Digits
In a TradingView post, Behdark’s Elliot Wave theory analysis showed that the XRP price can reach double digits by 2026. The analyst’s accompanying chart showed that the first double digits target for XRP will be $15, after which the crypto could eventually rally to $28. Behdark also provided more insights into XRP’s current price action and why this rally could happen.
First, the analyst mentioned that the XRP price looks to be currently within a running triangle. In line with this, Behdark remarked that wave D might complete its movement by hunting the all-time high (ATH) at $3.84. He mentioned that there could be a price correction for wave E afterward.
Once that XRP price correction happens, Behdrak predicts the next move will be the post-pattern movement targeting a level above $15. This is where the price target of $28 comes into the picture, as the analyst’s accompanying chart shows it is a feasible target for the crypto, although it might not happen in this market cycle.
An XRP price rally to $28 would mean that the crypto would have a market cap of $2.8 trillion. However, Behdrak suggested that this was still feasible. He noted that his focus was on chart analysis and not fundamentals, even though fundamentals are reflected in the chart itself.
Meanwhile, the analyst told market participants that if a clear and identifiable pattern emerges when the XRP price reaches wave E of the triangle, they could position themselves for the main move to double digits.
A Confirmation Of This Double Digit Target
Crypto analyst Dark Defender also recently shared an Elliot Wave theory analysis, which showed that the XRP price could indeed reach double digits. Specifically, the analyst’s accompanying chart showed that XRP could rally as high as $18 when the wave 5 impulsive move occurs.
Interestingly, unlike Behdark’s chart, which showed that the rally to double digits would happen in 2026, Dark Defender’s chart showed that the rally to $18 could happen as early as mid-2025. Meanwhile, the analyst said that the XRP price is currently in the third wave, with the crypto expected to rally to $5 when this next impulsive move occurs.
Afterward, the XRP price is expected to witness a corrective move that will cause it to drop to as low as $4. The next impulsive move after this could send XRP to the $18 target.
At the time of writing, the XRP price is trading at around $1.55, up over 10% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
A crypto trader made a $2.5M profit today by turning 13 SOL into 9,718 SOL through trading 76.46M FATHA tokens. The trader bought the tokens on Pump.fun, capitalizing on a rapid increase in FATHA’s market cap, which surged to over $60M. The trader sold the tokens at the peak, realizing a 750x return.
Trader Makes $2.5M Profit Trading FATHA Token
The crypto trader turned 13 SOL (around $3.3K) into 9,718.5 SOL, making a $2.5M profit by trading 76.46M Slopfather (FATHA) tokens. On November 23, the trader purchased the tokens on Pump.fun, and within 40 minutes, FATHA’s market cap surged to over $60M. After holding the tokens, the trader sold them at the highest point, securing a 750x return.
The trader capitalized on the rapid market shift and seized the opportunity to make a significant profit. As per solscan, 9,500 SOL was swapped for USDC and bridged to Ethereum, demonstrating how quickly substantial profits can be made in the volatile meme coin market. The trade reflects the growing influence of meme coins on the Solana blockchain.
On-chain data indicates that the wallet involved in this trade may belong to BT (@cooksassistant), who has traded 60 tokens over the past three days. With a win rate of 42.37%, BT has generated $2.7M in total profit.
What a lucky trader!!!
6 hours ago, this trader sniped 76.46M $FATHA for just 2.93 $SOL ($765).
Currently, these $FATHA are worth $2.7M. The sniper has made x3483.https://t.co/MVgcAnWR1R pic.twitter.com/seXfdgAq6r
— Onchain Lens (@OnchainLens) November 23, 2024
FATHA Token Surge and Solana’s Meme Coin Boom
Slopfather (FATHA) token has surged to $0.03841, with a market cap of $38 million, allowing the crypto trader to book a massive profit. Its 24-hour trading volume is $156 million, reflecting a 4000% increase in the last 24 hours. This dramatic rise shows the growing demand for meme coins in the crypto market.
Solana’s blockchain is becoming a top platform for meme coin launches. Projects like PNUT, WIF, GOAT, and BONK are leading the way. Additionally, Arthur Hayes’ endorsement of the Solana-based FLOWER coin boosted interest, driving the growth of meme coins on Solana.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Dogecoin Price Forms Extremely Rare And Bullish High Tight Flag Pattern, What To Expect Next
The Dogecoin price, which has been on a consolidation trend since November 12, has given rise to a rare and bullish chart pattern known as the high tight flag. This pattern, which is like the bull flag, is setting up the Dogecoin price for a significant upward movement.
Analyst Highlights Bullish High Tight Flag Pattern For Dogecoin
Trader Tardigrade, known for his insightful technical analyses, pointed out that the Dogecoin price is currently forming a high tight flag pattern on the daily candlectick timeframe, which is a rarity in technical charting that often precedes explosive price movements. According to his post on social media platform X, the significance of this pattern lies in its implications of a “highly possible significant upward price movement.”
In his words: “#Dogecoin is forming High Tight Flag Pattern 🔥 ‘High Tight Flag Pattern’ stands out as a rare, BUT Extremely Bullish signal that indicates a highly possible significant upward price movement.”
First off, the emergence of this high tight flag pattern means the $1 level is inevitable for the Dogecoin price. The analyst further speculates that the combination of strong price momentum, growing market enthusiasm, and FOMO (fear of missing out) among retail investors is ultimately going to push the Dogecoin price to targets of $5 to $10.
Understanding The High Tight Flag Pattern
The high tight flag is a special bullish case of the bull flag pattern. Both patterns are characterized by a flagpole and a flag/handle. Unlike the bull flag, the formation of a high tight flag follows stringent criteria, which makes it somewhat rate. This criteria is characterized by a sharp price increase of at least 100% over a short period with a maximum of eight weeks. This rapid ascent forms the ‘flagpole’ of the price pattern. In the case of the Dogecoin price, the flagpole was formed over nine days from November 3 to November 12, where it registered a gain of about 180%.
Following this surge, the price enters a consolidation phase, moving sideways or slightly downward, creating the ‘flag/handle’. This consolidation usually retraces no more than 10% of the initial rise and lasts at least five days to a maximum of three weeks.
In the case of Dogecoin, the flag has been in play for the past ten days, with a handle depth of 10%. The pattern is considered complete when the price breaks out above the consolidation range, often leading to further gains.
At the time of writing, Dogecoin is trading at $0.3926, with a 1.88% gain in the past 24 hours. A run towards the first price target at $1 would translate to a 155% gain. Other price targets at $5 and $10 represent returns of 1,170% and 2,440%, respectively, from the current price.
Featured image created with Dall.E, chart from Tradingview.com
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