Litecoin recently hinted through a humorous tweet that it will join the meme coin trend, causing the LTC price to surge by 15% instantly.
Litecoin is likely to show interest in joining the meme coin domain after the recent market frenzy, as a post said "I now consider myself a memecoin due to the current market conditions". Dogecoin responded to this and welcomed it, asking fans to suggest a mascot. Traders immediately responded to these posts, triggering a 15% rise in the LTC price.
Is Litecoin Joining the Meme Coin Domain?
Litecoin, a decentralized peer-to-peer cryptocurrency inspired by Bitcoin, sparked a massive discussion on the X platform on November 14. The post stated, "Given the current market conditions, I now define it as a memecoin."
This sparked discussion and speculation in the cryptocurrency community, with many wondering how this transformation would be implemented. Other top meme coins like Dogecoin welcomed Litecoin's proposal. It suggested using a "chibi mascot" to promote Litecoin's move.
One user mocked, "You've always been a meme coin." Litecoin responded, "This is just a lifestyle choice at the moment. Might just be a phase." Litecoin also mocked Ethereum and Solana, as the crypto community hopes these projects will also post similar tweets.
Will the LTC Price Quickly Break $100?
On Tuesday, the PEPE Coin was listed on Coinbase, Robinhood, and Upbit exchanges, sending the entire meme coin industry into a frenzy. In the past 24 hours, the price of PEPE has risen by 83%, while Dogecoin (DOGE), dogwifthat (WIF), and Bonk (BONK) have also risen by 25% respectively. Well, with such huge attention, Litecoin seems to want to join the meme coin camp.
The LTC price has risen by 15% in the past 24 hours, currently trading at $82.25. The 24-hour low and high prices were $72.70 and $84.35 respectively. Additionally, trading volume has increased by 33% in the past 24 hours, indicating increased interest from traders.
According to CoinGape's analysis, with the formation of a golden cross and the hype around meme coins, the price of Litecoin could surge to $100.
According to IntoTheBlock data, the holdings of short-term LTC holders have surged by 31% in the past month, indicating a clear shift in trend. Such an increase in short-term holders is usually in line with market bottoming or precedes a significant price rise.
