Amidst the small surge because of the whole crypto market’s condition last week, Litecoin ($LTC) has witnessed another uptrend of around 10% in 24 hours, and crypto enthusiasts consider the latest tweet from Litecoin’s official account as the triggering point.
Litecoin, in one of its recent tweets, expressed its interest in identifying the self as a memecoin. “Due to current market condition I now identify as a memecoin.”, it said. The sarcastic post was a part of the memecoin bull run, where coins like DOGE, WIF, and PEPE made significant returns. The post received around 2.3 million views and 1.7K comments, with various funny replies.
As an old-timer with various ups and downs, this sudden uptrend was unexpected for LTC. The coin is now trading at (03:52 GMT) around $81.259, and it is the highest single-day surge in the past 8 months.
The Impact of Litecoin’s Tweet
The witty comment by Litecoin generated huge retweets and attained virality. X (Twitter) users engaged with the post by giving funny replies like “you were always a meme anyways” and “memecoin with only 84 million tokens. Bullish!”. Various profiles congratulated LTC’s self-realization.
Around 20K people reacted to the post and a total of 2.3 million views were generated by it. This resulted in a sudden uptrend in the charts, along with the inflow into other meme coins.
What Does This Surge Mean for LTC Hodlers?
The 13-year-old cryptocurrency Litecoin was launched as a faster and more efficient alternative to Bitcoin. The mining time was reduced to 2.5 minutes from the 10 minutes of Bitcoin, and the total supply was 84 million, four times that of BTC.
Even though it is an old coin, there have been various advancements in its ecosystem, planning and executing roadmaps each year, and organising various events for its vibrant community. This is one of the reasons why it still maintains its market cap balance.
If you are a long-term witness of LTC’s ups and downs, this 10% surge is just another movement among 100s of recurrent uptrends. The all-time high of the coin was around May 10, 2021, 4 years ago, with a price of $412.96 per coin. It is almost 80.55% from its ATH and has a long way to go.
Litecoin LTC Token Details
| Token Ticker | $LTC |
| Total Supply | 84 million LTC |
| Market Cap | $6.05 Billion |
| 24 Hours Volume (14/11/2024) | $1.64 Billion |
| Circulating Supply | 75.19 million LTC |
How to Purchase LTC? Is it a Good Investment Option?
Around July, it was noticed by the on-chain analysis that the short-term traders for LTC are moving up, with a 31% increase in 30 days. The recent data reveals that these investors are still active in the coin’s market. Also, various occasional uptrends, like the current one that is a byproduct of the memecoin frenzy, will arrive on Litecoin.
All these suggest that LTC is good for short-term holding. For long-term holding, it is better to ignore Litecoin and stick to BTC or ETH. Remember, it is not financial advice but objective observation of the charts. Do your own research before purchasing Litecoins.
The community sentiment is 83% bullish and 17% bearish at the moment, and the coin is available in all the major exchanges to trade. Around 10% of the CEX volume is concentrated in Binance with LTC/BTC and LTC/USDT active pairs. You can also swap it through DEX like Pancaskeswap (LTC/WBNB), Uniswap v3 (LTC/USDT), and ApeSwap (LTC/WBNB).