The Litecoin Mascot price plunged 17% in the last 24 hours to trade at $0.02902 as of 04:07 a.m. EST on trading volume that plummeted 55% to $61.7 million.
This comes as Litecoin revealed in a lengthy X post that it had no affiliation with the recently launched memecoin, Lester, on Solana’s Pump.fun. Due to compelling market conditions, the Litecoin team decided to become a memecoin last week.
It has been almost a week since the Litecoin handle posted the now often used phrase “Due to current market conditions I now identify as a memecoin.”
It was a lighthearted jab at the crypto market’s current state of affairs, and a self-deprecating acknowledgement that although…
— Litecoin (@litecoin) November 19, 2024
Litecoin Mascot Price Aims For A Bullish Trend Reversal
The LESTER/USD chart shows a descending wedge pattern, which is typically a bullish reversal pattern if the Litecoin Mascot price breaks upward. The narrowing structure suggests decreasing volatility and pressure, leading to a potential breakout over the upper boundary of the wedge around $0.050, according to GeckoTerminal data.
The price of Litecoin Mascot now trades below the 50-day Simple Moving Average (SMA), coinciding with the recent downtrend within the wedge.
The Relative Strength Index (RSI) is at 44.48, which is in the neutral zone but trending toward the oversold region (<30). This suggests that selling pressure has been significant but not extreme. Earlier dips to oversold levels (visible spikes below 30 RSI) coincided with slight upward movements in price, hinting at potential for a rebound.
The Moving Average Convergence Divergence (MACD) line (blue) is slightly above the signal line (orange), suggesting mild bullish momentum starting to form.
If a bullish momentum picks up at this level, the price of Litecoin Mascot could surge, as the bulls target $0.13.
LESTERUSD Chart Analysis Source: GeckoTerminal
However, if the downtrend continues, the LESTER price continue with its correction, with $0.010 acting as the next possible support zone.
As the Litecoin Mascot aims for a bullish trend reversal, other investors are buying the Crypto All-Stars (STARS) project as according to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, $STARS has the potential to soar 10X after its launch.
Crypto All-Stars Raises Over $4.8 Million – Best Crypto To Buy?
Crypto All-Stars, a new meme coin staking protocol, has surged past $4.8 million in funding, making it one of the biggest ICOs of the fall. Impressively, over $1 million was raised in just the past week.
The platform brings popular meme coins together through its innovative MemeVault ecosystem and native $STARS token. With multi-token and multi-chain staking capabilities, it allows users worldwide to earn high APYs across a wide range of meme coin holdings.
What Is Crypto All-Stars?
Crypto All-Stars is set to revolutionize the meme coin sector with its innovative ‘Meme Vault’ platform. 💥
This is more than just another meme coin – it's an entirely new way to interact with the meme coin ecosystem!
— web3telepath (@web3telepath) August 15, 2024
By integrating a range of meme coins, MemeVault addresses the fragmentation in the meme coin ecosystem, simplifying the staking process and increasing liquidity.
Currently, Crypto All-Stars supports 11 meme coins—Dogecoin, Shiba Inu, Pepe, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk—with plans to add more in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers a stunning 376% annual percentage yield (APY).
You can buy STARS tokens now for $0.0015933. The price will increase in less than 2 days, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
Related News
Bitcoin Price Analysis: BTC Nears $100K As Trump Considers Crypto Lawyer
3 Best Meme Coins to Watch in November as Bitcoin Hits New ATH
EGO Skyrockets 34% And This Might Be The Next Crypto To Explode
