Terra Luna Classic (LUNC) is up almost 100% today after CoinDesk journalist Ian Allison appeared at Binance Blockchain Week Dubai wearing a vintage Terra Luna logo T-shirt and moderated interviews with executives from Mastercard, Ripple, and TON.
The image went viral on X and Telegram within hours, sparking discussion about how the moment felt like a nostalgic comeback for one of crypto’s most infamous altcoins.
Journalist Ian Allison wearing a Terra Luna T-shirt at Binance Blockchain Week in Dubai
Terra Luna is back? Not enough
Traders were already rotating to LUNC ahead of the planned network upgrade supported by Binance.
The exchange has confirmed that it will suspend deposits and withdrawals during the upgrade period, demonstrating strong operational support from the world’s largest trading venue.
Terra Luna Classic (LUNC) price chart for December 5th. Source: CoinGecko
The announcement caused trading volumes to rise sharply, setting the stage for rapid speculative flow.
Token burn trackers recently reported aggressive supply cuts, including hundreds of millions of LUNCs removed from circulation over the past week. Community messaging amplified the theme and revived the idea of shrinking floats.
December 4, 2025:
Terra Classic $LUNC Max supply: 6,480,742,753,204 Tokens consumed on previous day: 83,945,886 (🔴-0.0013%)
Terra Classic $LUNC Price: $0.00002834 (🟢+0.11%) pic.twitter.com/Gwppn0zHZH
— Lunch Burn Update (@LuncBurnDaily) December 4, 2025
This story resurfaced at the same moment that Allison’s shirt went viral, reinforcing the perception of an organized cultural resurgence.
Dokwon effect
The rally also draws new attention to Do Kwon’s sentencing proceedings, which are underway in the United States. Traders see the development towards a legal conclusion as a possible reset point, allowing LUNC to trade more like a legacy meme asset than a distressed asset.
The story quickly gained traction as trading volumes soared and the spot market tightened.
As expected, the Justice Department is seeking a 12-year prison sentence for Do Kwon. Their proposed sentencing suggests that they do not accept Mr. Kwon’s apology and attack Mr. Kwon’s attempts to evade responsibility and paint himself as a victim of Montenegrin officials. pic.twitter.com/Ub8MKk8iiP
— Alexander Osipovich (@aosipovich) December 5, 2025
Why the T-shirt moment went viral
Terra’s collapse remains one of the most dramatic episodes in cryptocurrencies, wiping out billions of dollars in market value in 2022 and sparking a regulatory crackdown around the world. Many in the industry still associate this logo with that moment, a symbol of excess, influence, and overall failure.
Seeing this design reappear on the main stage alongside existing organizations added an unexpected emotional layer to the gathering. It was both a strange throwback and an emotional provocation.
$LUNC just doubled, increasing its market cap by $150 million.
It’s not because of innovation or fundamentals, it’s just because CoinDesk’s @IanAllison123 was wearing a $LUNC t-shirt in front of the camera.
This is the reality of the market. People aren’t chasing technology… pic.twitter.com/TpHeZwCWgm
— Cryptech Sam 𐤊 (@Cryptech_Sam) December 5, 2025
Terra’s ghost is still here
Terra’s algorithmic stablecoin unraveled three years ago, sparking a contagion that spread to lending platforms, hedge funds, and later exchanges. Millions of investors were left underwater, sparking the biggest crypto winter ever.
Today’s rally simply shows that memory, speculation, and narrative still matter in cryptocurrencies, sometimes even more so than fundamentals.
As LUNC’s stock price skyrocketed, the shirt served as a reminder to the market of how quickly sentiment can change, even on a project once deemed unprofitable.
