Litecoin Embraces Meme Coin Status Amidst Market Frenzy

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The cryptocurrency market continues to witness intriguing narratives that drive asset prices. Amidst a surge in meme token enthusiasm, Litecoin (LTC), a long-established player in the market, has declared its affiliation with the meme cryptocurrency category.

LTC's shift in identity stems from the recent frenzy surrounding the listing of dogwifhat (WIF) and Pepe Coin (PEPE) on the prominent U.S. exchange Coinbase. The project was further bolstered by the listing of PEPE on Robinhood US, a top brokerage platform in the United States.

Consequently, PEPE's price skyrocketed by 50% at its peak yesterday, surpassing its previous all-time high. Its ascent continued today, with an additional 10% increase, setting a new all-time high of $0.00002597 on Binance.

WIF, a Solana-based meme cryptocurrency featuring a Shiba Inu wearing a knitted hat, has also gained significant traction in 2024. Its listing on Coinbase yesterday resulted in a remarkable 65% intraday surge, pushing its price from $2.87 to $4.734.

Inspired by these developments, Litecoin, initially conceived as a Bitcoin analog in 2013, has elected to embrace its status as a meme coin. While WIF and PEPE, established in 2023, boast market capitalizations of $4.17 billion and $9.43 billion, respectively, LTC, despite its 11 years of existence, holds a market capitalization of $6.16 billion. This is attributed to a 13% surge in its value following the humorous announcement. Read original article on U.Today