The price of Terra Luna Classic ([LUNC](https://crypto.news/price/terra-luna-classic/)) remained stable at $0.00006545 after the community voted down a controversial sub-DAO creation proposal.
Key Events of the Vote
The Terra Luna Classic community voted against the creation of four sub-DAOs, each responsible for different management aspects such as security, communication, documentation, and mediation. Although most members supported the initiative, 38% expressed dissent, and the proposal was ultimately vetoed.
Reasons for Proposal Rejection
The campaign against the proposal was led by Mr. DiamondHandz, who argued that creating sub-DAOs could lead to a power grab within the community. He claimed that sub-DAO leaders might place their friends in key committee positions.
LUNC Price Analysis
The price of Terra Luna Classic recovered to $0.00006545, showing a 20% increase from this month's low. The chart shows the formation of a large 'quadruple bottom' pattern. A divergence is observed, potentially indicating further price increase potential.
The rejection of the sub-DAO creation proposal and positive technical signals could contribute to further increases in the price of Terra Luna Classic.
