The price of Lightcoin (LTC) surged 15% on the announcement of meme coin
Lightcoin announced itself as a #meme coin, and the price jumped 15% from 8 to 82.25.
After the meme coin announcement, the volume of #LTC increased by 33%, indicating the growing interest in the market.
A golden cross has formed on the technical chart of Ltc, indicating the possibility of further price increases. Lightcoin, often referred to as the silver vs. gold of bitcoin, recently surprised the market by announcing it as a meme coin. The announcement was made in an interesting social media post where the creator wrote: I now see myself as a coin meme.
This almost immediately caught the attention of the crypto community.
Dogecoin, the original meme coin, also reacted positively to the change, supporting #Litecoin and providing a new mascot for the change.
The announcement sparked a strong reaction in the market, with the price of LTC rising 15% in a matter of hours. The cryptocurrency then traded between intraday highs and lows of 82.25 and 884.35, respectively.
The meme coin's status is displayed in the context of the overall growth in meme token value. #PEPE and WIF have seen significant growth recently and are listed on Coinbase and Robinhood.
LTC trading volume has also increased by 33%, indicating interest in the coin from retail and institutional investors.
According to analysts, bullish sentiment towards Litecoin has increased since the announcement.
market participants seem to be very interested in Litecoin's game-changing status. This suggests that this could attract new investors interested in meme coins. The meme coin market is generally quite volatile. Coins such as DOGE and PEPE are rapidly increasing in value.
Analysts also note that Litecoin could experience further growth and potentially rise to 3,300 if the current trend continues.
Open interest in LTC futures also rose by 7.
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