Litecoin recently hinted at joining the memecoin bandwagon via a humorous tweet, causing LTC’s price to surge by a massive 15% in an instant.
Litecoin has likely shown interest in joining the meme coin space following the recent market frenzy, as one post stated “I now consider myself a memecoin due to current market conditions”. Dogecoin responded by welcoming the post and asked fans to suggest mascots. Traders immediately responded to the posts, sparking a 15% increase in the LTC price.
Litecoin Now Joins the Meme Coin Field?
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 has sparked discussion and speculation in the cryptocurrency community, with many speculating on how the shift will be implemented. Other top meme coins such as Dogecoin welcomed Litecoin’s proposal. It suggested using a “chibi mascot” to promote Litecoin’s move.
“You’ve always been a meme coin,” one user quipped. Litecoin responded by saying it was “a lifestyle choice at the moment. Probably just a phase.” Litecoin also mocked Ethereum and Solana as the crypto community expected similar tweets from those projects.
Will LTC price surpass $100 soon?
The entire meme coin industry went into a frenzy after PEPE Coin was listed on Coinbase, Robinhood, and Upbit exchanges on Tuesday. In the past 24 hours, PEPE's price has risen by 83%, while Dogecoin (DOGE), dogwifthat (WIF), and Bonk (BONK) have also risen by 25% each. Well, looking at such a huge attention, Litecoin seems to want to join the meme coin camp.
The LTC price has increased by 15% in the past 24 hours and is currently trading at $82.25. The 24-hour minimum and maximum prices were $72.70 and $84.35 respectively. In addition, the trading volume has increased by 33% in the past 24 hours, indicating an increase in trader interest.
Litecoin price could jump to $100 as a golden cross pattern forms and meme coin hype builds, according to CoinGape analysis.
According to data from IntoTheBlock, short-term LTC holders’ holdings have surged 31% over the past month, indicating a clear shift in trend. Such accumulation by short-term holders typically coincides with a market bottom or precedes a significant price increase.
