Litecoin (LTC) Comes out as Meme Coin, Price Goes Nuts: Details

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As a seasoned researcher with over two decades of experience in the financial markets, I must admit that the recent turn of events in the cryptocurrency sphere has left me both amused and intrigued. The transformation of traditional assets like Litecoin into meme coins is a testament to the dynamic nature of this burgeoning industry.

In simpler terms, the crypto market is being shaped by surprising and unforeseen stories, as even long-standing coins like Litecoin (LTC) are now embracing their role as meme currencies due to recent trends in the market.

It seems that the Litecoin team was noticeably inspired by yesterday’s excitement around the listings of tokens like Doge-what (WIF) and Pepe Coin (PEPE) on the significant U.S. exchange, Coinbase. Additionally, the frog token also made its way onto Robinhood US, a leading brokerage platform in the United States.

Due to current market conditions I now identify as a memecoin.

— Litecoin (@litecoin) November 14, 2024

Consequently, the price of PEPE skyrocketed by 50% to a record-breaking high yesterday, surpassing previous value records. Yet, this surge didn’t persist for long as PEPE increased another 10% today, establishing a new all-time peak on Binance at $0.00002597.

As a crypto enthusiast, I’ve been captivated by the surge of interest in Doguifhat (WIF), the adorable meme cryptocurrency featuring a dog donning a knitted hat that’s taken 2024 by storm. Yesterday, it was listed on Coinbase, and as a result, its value skyrocketed more than 65% intraday! Starting from a low of $2.87, it peaked at an impressive high of $4.734.

It’s no wonder that given the current situation, Litecoin, initially introduced as a Bitcoin counterpart in 2013, also chose to identify itself as a meme coin recently. While coins like WIF and PEPE, which emerged in 2023, have amassed capitalizations of $4.17 billion and $9.43 billion respectively, Litecoin, being 11 years old, boasts a capitalization of $6.16 billion – an increase of 13% today following this light-hearted announcement.

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2024-11-14 13:50