Litecoin [LTC] has been around for 12 years since its launch, and today, October 13, is its anniversary.

Litecoin had fewer than 10,000 addresses on October 13, 11 years ago. Today the network has more than 214 million addresses. It's quite a feat in terms of adoption and shows how much the network has grown.

Litecoin had previously experienced large declines in its ATHs, and in the last bear market in 2022-2023, prices fell to previous lows.

The price decline metric highlighted LTC's long-term boom and bust cycle. It also found that bear markets become quite evident before the next bullish wave occurs. And when a rally finally begins, it's usually a sharp rally that lasts shorter than a bear market.

LTC's massive pullback from its 2021 highs suggests that the next bullish cycle may be drawing closer with each passing day. Examining whale activity against the supply distribution metric revealed mixed activity that is not entirely consistent with strong demand.

The largest whale category (addresses with more than 1 million LTC) has been selling since July. Meanwhile, the addresses with the largest share of circulating supply (addresses with 100,000 to 1 million LTC) have not shown much activity in the last three months.

While the above findings suggest that the next long-term rally may take some time, things may turn out differently in the short term. That's because, at press time, Litecoin was showing signs that it might be on the verge of a relief rally following its 46% decline since June highs.

Additionally, LTC's Relative Strength Index (RSI) has already shown signs of increasing bullish strength. However, the Money Flow Index (MFI) recently showed that outflows associated with the downward trend have continued since the beginning of October.