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Terra Luna Classic (LUNC) maintained a steady price on Thursday following the community’s decision to reject a controversial proposal. The cryptocurrency rose to $0.00006545, marking a 20% increase from its lowest point this month and a 40% climb from its lowest level in 2025.

Community Votes Against Sub-DAO Proposal

The primary driver behind LUNC’s recent activity was the community’s decision to veto a proposal for creating a sub-DAO structure. The proposal suggested the creation of four sub-DAOs, each tasked with specific responsibilities:

  • One DAO focused on ensuring Terra Classic’s security and chain stability.
  • Another dedicated to communication and marketing efforts.
  • A third DAO responsible for documentation.
  • The final DAO aimed at overseeing mediation processes.

Each sub-DAO was proposed to operate on a voluntary six-month term. While the proposal initially garnered significant support, it faced resistance from 38% of voters who rejected the idea. Ultimately, the proposal was vetoed due to the “no with veto” option surpassing the 33.4% threshold.

Concerns About Power Consolidation

The campaign to reject the proposal was spearheaded by an anonymous validator and community member known as Mr. DiamondHandz. He raised concerns that sub-DAO leaders might exploit their positions to appoint allies to key committee roles, potentially leading to power consolidation within the ecosystem.

Upcoming Vote on TerraUSD Classification

The LUNC community is now deliberating on another significant proposal: changing the classification of TerraUSD (USTC) from a stablecoin to a meme coin. This shift acknowledges the reality that USTC no longer trades as a stablecoin and faces slim chances of regaining its peg.

LUNC Price Analysis

Recent price movements indicate that Terra Luna Classic formed a bottom at $0.00005650 earlier this month. This price point aligns with previous lows seen in February this year, as well as July and August of last year. The chart reveals a quadruple-bottom pattern with a neckline at $0.0001792.

Additionally, LUNC has demonstrated a bullish divergence pattern, where an oscillator trends upwards while the price continues to decline. The Awesome Oscillator has begun moving upward and is nearing the zero line. Similarly, the Percentage Price Oscillator (PPO), a variation of the MACD indicator, shows signs of upward momentum.

A combination of bullish divergence and a quadruple-bottom pattern suggests potential upside for LUNC. However, if the price drops below the support level at $0.000056, this bullish outlook could be invalidated.

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