Litecoin Price Soars After DOGE Marks Historic Growth

Santiment reportedTemporarily, Litecoin has been separated from the cryptopack. Additionally, Whale addresses which have more than 1,000 LTC increased in value rapidly since the middle of June. Since June 12, the LTC/BTC pairing has risen by more than 51%.

Memecoins were in the spotlight last week, after Musk completed the acquisition of Twitter. Dogecoin performed the best among all memecoins. The price surge to $0.15 saw it rise above 100%, which was a record five-month-high. Dogecoin is currently at $0.1188.

Litecoin (an altcoin) was also picked up and took the DOGE market spotlight. According to price analysis, Litecoin (LTC), rose by almost 15% over the past 24 hours to close $63. LTC currently trades at $62.77. This is a 13.61% rise with a market capital of $4.4 trillion.

Litecoin Price Soars After DOGE Marks Historic Growth
The chart l. LTCUSDT at shows Litecoin’s price exploding

According to on-chain data, LTC whale address numbers have increased steadily since May following the crypto market correction. Santiment data shows that LTC/BTC pairs have increased 25% over the past five month, more so.

How did the Litecoin price boost occur?

The adoption of cryptocurrencies has evolved over the years. Litecoin, like other digital assets is affected by institutional adoptions or significant events.

Litecoin’s performance could be due to the latest development in the crypto space. MoneyGram has recently added the token to its list of cryptocurrencies consumers in the US and Columbia that they can trade or hold via its mobile platform.

MoneyGram is a dominant player in the global money transfer service market. The listing of LTC could have provided a boost. Charlie Lee is the founder and CEO of Litecoin. shared the newsHis Twitter handle. He shared his joy at the news that Litecoin can now be purchased on MoneyGram and thanked Coinme. LTC founder stated that LTC remains alive to remind haters.

LTC Performance Compared to BTC

According to analytics, the $64 mark may be Litecoin’s resistance level. A breakout above $64 could lead to a further uptrend. Litecoin is now back to its pre-loss of three months with this recent gain.

LTC has held the 3rd rank in market cap since a very long time. LTC was active for nine years and has had great success, with the exception of bear markets.

The 2022 price prediction of Litecoin shows that the token’s minimum cost is $57.16, while the maximum is $62.79. It is expected that the average trading price will be $59.38. LTC is able to achieve higher levels.

Comparing LTC performance with Bitcoin’s, the latter currently has a market cap above $389 billion, while the former has over $4.413 billion. Bitcoin has fallen by 0.8% in the past 24 hours and is trading at $20,000.

Pixabay's featured image, Charts by TradingView

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