Litecoin Price Soars 21% as Solana Meme Coin Hits 100,000 Holders – Is It Too Late to Buy?
LTC has gained by 1% in the past 24 hours, with the Litecoin price’s jump to $96.44 also marking a 21% increase in the past week.
The altcoin has also posted a 33% gain in the last 30 days, but with it appreciating by only 40% in the past year, it still has plenty of space left to rise if it wants to catch up with other major tokens.
It has had a good week, yet it isn’t the only promising alt in the market, with a new Solana- and Ethereum-based meme token – Smog (SMOG) – reaching 100,000 holders after listing last month.
SMOG has rallied by over 13,000% since going live, and with the market becoming increasingly bullish in recent weeks, it could witness even bigger surges as it lists on new trading platforms.
Litecoin has lost a little momentum today after having a great weekend, with the coin’s indicators suggesting that it may correct before rallying again.
Its 30-day average (yellow) has potentially peaked in relation to its 200-day (blue), with its current price being well above both averages.
Also portending a dive is LTC’s relative strength index (purple), which is dropping towards 60 after passing 70 a few days ago.
It therefore seems that LTC (like many other tokens) is cooling off for a period before rising again, with the alt due more gains in the medium- and long-term.
Its trading volume remains encouraging at $1.8 billion, up from $500 million only a few days ago.
This suggests sustained interest in the coin, with Litecoin remaining a moderately popular alt among larger investors, as suggested by CoinShares’ recent Digital Asset Fund Flows report.
As one of the few remaining proof-of-work cryptocurrencies, LTC continues to hold an attraction as a store of value and means of payment.
In fact, the most recent available
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