- Litecoin turns into a meme coin following the rise of PEPE and WIF tokens.
- PEPE hits new all-time excessive after Coinbase and Robinhood listings, whereas WIF jumps 65%.
- Litecoin requires blockchain unity within the face of rising regulatory pressures.
Litecoin (LTC), a well-established cryptocurrency, has declared itself a meme forex whereas advocating for unity throughout the blockchain neighborhood to handle regulatory challenges. The transfer comes as meme cash like Dogwifhat (WIF) and Pepe Coin (PEPE) are seeing a surge in recognition.
The surge in meme cash intensified after WIF and PEPE had been listed on main US platforms like Coinbase and Robinhood. PEPE soared over 200%, reaching an all-time excessive of $0.00002597. In the meantime, Dogwifhat, a Solana-based coin, additionally made headlines after its itemizing on Coinbase, with its value surging 65% in a single day.
On this context, Litecoin, a mission that has existed since 2013 and was initially thought-about a critical various to Bitcoin, has renamed itself meme coin. The transfer seems to be a strategic try to capitalize on the viral success of meme cash and keep their relevance within the crypto market. The market reacted positively to Litecoin's playful rebranding, with LTC seeing a 21% value enhance.
Requires blockchain unity within the battle in opposition to regulation
In the meantime, Litecoin has taken this meme-inspired rebranding even additional. In a follow-up tweet, the Litecoin workforce additionally issued a rallying cry to the broader cryptocurrency neighborhood, calling for unity within the face of rising regulatory pressures.
In a tweet, Litecoin inspired numerous blockchain networks, together with layers 1 and a pair of, to come back collectively in what it described as a “battle in opposition to the machine.” The tweet frames the cryptocurrency ecosystem as a collective of “memes,” suggesting that humor and shared id might be highly effective instruments for driving change.
Litecoin enlisted the assistance of Dogecoin, the primary true meme coin, to put in writing a “memetoo” manifesto. The tweet humorously tasked Polygon with connecting blockchain networks whereas giving Solana the playful position of standing by and ready for the “ball.”
Nevertheless, past the humor lies a critical nuance. Litecoin's message straight addressed regulatory challenges from entities such because the U.S. Securities and Change Fee (SEC) and policymakers like Senator Elizabeth Warren, signaling a collective backlash in opposition to extreme notion.
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