LTC has gained by 1% previously 24 hours, with the Litecoin price’s jump to $96.44 additionally marking a 21% enhance previously week.
The altcoin has additionally posted a 33% achieve within the final 30 days, however with it appreciating by solely 40% previously yr, it nonetheless has loads of area left to rise if it desires to meet up with different main tokens.
It has had a very good week, but it isn’t the one promising alt out there, with a brand new Solana- and Ethereum-based meme token – Smog (SMOG) – reaching 100,000 holders after itemizing final month.
SMOG has rallied by over 13,000% since going stay, and with the market changing into more and more bullish in current weeks, it might witness even greater surges because it lists on new buying and selling platforms.
Litecoin Worth Soars 21%
Litecoin has misplaced a little bit momentum in the present day after having an incredible weekend, with the coin’s indicators suggesting that it might right earlier than rallying once more.
Its 30-day common (yellow) has doubtlessly peaked in relation to its 200-day (blue), with its present value being nicely above each averages.
Additionally portending a dive is LTC’s relative power index (purple), which is dropping in direction of 60 after passing 70 a number of days in the past.
It due to this fact appears that LTC (like many different tokens) is cooling off for a interval earlier than rising once more, with the alt due extra features within the medium- and long-term.
Its buying and selling quantity stays encouraging at $1.8 billion, up from $500 million only some days in the past.
This implies sustained curiosity within the coin, with Litecoin remaining a reasonably in style alt amongst bigger buyers, as recommended by CoinShares’ current Digital Asset Fund Flows report.
As one of many few remaining proof-of-work cryptocurrencies, LTC continues to carry an attraction as a retailer of worth and technique of fee.
The truth is, the most recent available data from CoinGate reveals that Litecoin accounts for roughly 10% of all funds made by means of the processor.
$LTC has efficiently retested its multi-year Macro Downtrend as new assist on the Weekly timeframe
That is a vital technical step in confirming a brand new Macro Uptrend#LTC #Crypto #Litecoin https://t.co/O6JbgXfXU9 pic.twitter.com/pxsbHhdoff
— Rekt Capital (@rektcapital) March 12, 2024
Aside from that, LTC lives considerably in Bitcoin’s shadow, but the increasingly bullish market has helped pushed it forwards in current weeks.
And it’ll proceed to take action within the close to future, with the Litecoin value doubtlessly on target to achieve $150 by the top of spring.
Solana Meme Coin Hits 100,000 Holders – Is It Too Late to Purchase?
As a result of Litecoin is more likely to rise extra modestly than sure different main cash, many merchants can be more likely to flip to different alts.
There are quite a few promising new cash out there proper now, together with a mixture of bullish presale cash and newly launched tokens which will rise massive as they checklist on exchanges.
An important instance from the latter class is supplied by Smog (SMOG), an Ethereum- and Solana-based token that has gained by over 13,000% since itemizing on Birdeye and Jupiter at the start of February.
This efficiency is massively spectacular for such a brand new and under-the-radar meme coin, with SMOG outperforming and outlasting most different new Solana-based meme cash, which are inclined to pump and dump in a short time.
The principle motive for SMOG’s longevity is that it encompasses a novel and really bullish airdrop system, which inspires extra long-term holding.
That’s, its common drops distribute extra tokens to buyers with the biggest SMOG holdings, thereby giving buyers a motive to purchase up extra of the coin.
On prime of this, SMOG’s staking system affords a yield of 42% APY, offering one other incentive to purchase up extra cash and maintain them for longer durations.
Purchase or stake your ERC-20 $SMOG #Tokens by means of our platform. 💰🐉
Staked tokens are securely locked for 90 days, with rewards out there for withdrawal at your comfort. 🔒💸
Each token bought through our service is robotically staked for you. 🔄
— SMOG (@SMOGToken) February 22, 2024
SMOG’s value might due to this fact enhance considerably within the coming months, helped by its rising on-line group, with Smog’s Twitter account now boasting more than 37,000 followers.
Traders should buy the token now by visiting the official Smog website, or by going to the Jupiter and Birdeye DEX aggregators.
It’s additionally more likely to checklist on different buying and selling platforms within the subsequent few weeks, one thing which might propel its value even increased quickly sufficient.
Disclaimer: Crypto is a high-risk asset class. This text is supplied for informational functions and doesn’t represent funding recommendation. You might lose your entire capital.
