Following the recent market frenzy, Litecoin likely seems interested in joining the meme coin sector, according to an article that says “I now identify as a memecoin” due to the current market situation. Dogecoin reacted and welcomed this decision and asked fans to suggest a mascot. Traders immediately responded to the posts, triggering a 15% rise in the price of LTC.
Is Litecoin Now Joining the Meme Coin Space?
Litecoin, a decentralized peer-to-peer cryptocurrency inspired by Bitcoin, sparked a massive discussion on the X platform on November 14. The post read: “Due to current market conditions, I now identify as a memecoin. »
This has sparked discussion and speculation within the crypto community, with many suggesting how the transition will take effect. Other best coins as Dogecoin welcomed this proposal from Litecoin. He recommends promoting the Litecoin movement with a “chibi mascot”.
Hello family, @litecoin now identify as a memecoin, so can we help them create some LTC memes to help them get started? A sort of chibi mascot I think 🤔 https://t.co/t8OiCPDNY6
– Dogecoin (@dogecoin) November 14, 2024
One user joked, “You’ve always been a coin.” Litecoin responded that it was a “lifestyle choice at the moment.” Probably just a phase. Additionally, Litecoin made fun of Ethereum and Solana, as the crypto community hopes that these projects can also tweet something like this.
Will the price of LTCs soon exceed $100?
The entire meme coin industry has turned into a frenzy following List of PEPE coins on CoinbaseRobinhood and Upbit trade Tuesday. Alongside PEPE’s 83% price gains over the past 24 hours, Dogecoin (DOGE)dogwifthat (WIF) and Bonk (BONK) also rose 25% each. Well, looking at the massive attention from the crowd, Litecoin seems tempted to join the coin camp.
The price of LTC has surged 15% in the last 24 hours, with the price currently trading at $82.25. The 24-hour low and high are $72.70 and $84.35, respectively. Additionally, trading volume increased by 33% in the last 24 hours, indicating renewed interest among traders.
According to CoinGape analysis, Litecoin price may jump to reach $100 with the formation of a golden cross pattern and coin hype.
According to data from IntoTheBlock, the balance held by short-term LTC holders jumped 31% over the past month, signaling a notable change in trend. Such accumulation by short-term holders often aligns with market lows or precedes significant price increases.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a deep understanding of financial markets. His interest in economics and finance has led him to focus on the emerging markets of Blockchain technology and cryptocurrencies. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller novels and occasionally explores his culinary skills.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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