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LUNC Burn Can't Help Terra Luna Classic Price, New Crypto Coin Burns 30% of Token Supply

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The Terra Classic (LUNC) price has been in a downtrend throughout 2023 despite the LUNC coin burn, its total supply still 5.87 trillion tokens.

New cryptocurrency Copium is burning 30% of its supply, aiming to achieve what the former Terra LUNA hasn't. Since the announcement of its token burn, the $COPIUM price has risen over 100%.The meme coin has a total supply of 1 billion, so 300 million tokens will be burned.A Discord message from the team also confirms that “the liquidity pool will also be locked straight after” the token burn event.Plans to reduce the supply of the $COPIUM token is attracting buyers in the run up to the event.

A reduction in supply will potentially increase the value of the remaining coins if the number of buyers continues to rise, as it is.There are currently 2,800 Copium token holders according to DEXTools. $COPIUM is also now listed on several CEX platforms - AscendEx, LBank, Poloniex, MEXC Global and Bitkan.First listed on Uniswap, the new coin is also a regular ‘Hot Pair’ on Dextools.More centralized exchange listings are thought to be in the works as the team continues to boost the digital asset’s marketing.Launched on Uniswap on the May 18th, $COPIUM is backed by some of the biggest and most influential names in crypto trading, such as Faze Banks who has 2.8 million Twitter followers, DeeZe on 250k, Cozomo de’ Medici with 289k followers and foobar with 130k.$COPIUM has the entertainment x factor, being a play on the notion of ‘coping’ with the slings and arrows of the crypto space.Attracting even more buyers to the meme coin is its NFT reward airdrops and other incentivizing giveaways, including exclusive events and product deals.$COPIUM reached its all-time high on launch day of $0.00164.

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