- Litecoin’s foray into the meme coin world did not bode well for SHIB.
- Lead developer slams LTC mascot for referencing Iron Man movie
- The price of Shiba Inu rose 5% on Monday as Litecoin underwent a correction.
Aside from the 35% rise, Litecoin’s (LTC) recent social media communication has garnered as much attention as the OG altcoin’s price action. On Monday, veteran altcoin-turned-memecoin account X kicked off a comprehensive roasting session led by Litecoin’s new mascot, Lester.
Litecoin is frowned upon on social media
This quirky yet humorous stick figure character was featured in several viral photos over the weekend. Posing with Ethereum founder Vitalik Buterin, continuing excavations at Solana (SOL), and even time-traveling with Dogecoin’s mascot in 1993. It is describing.
Litecoin’s new meme coin style gained media attention last Saturday when the price of LTC reached a three-month high of $96.99. Soon, as social dominance grew, conflicts arose between Litecoin and Shiba Inus. During that period in the market, SHIB outpaced LTC in trading volume, doubling LTC’s $999 million in 24 hours to over $2 billion.
Shiba Inu mocks Litecoin conversion.
In a message late Monday evening, Shiba Inu’s Kusama Shytoshi asked Litecoin to reconsider its decision to join the meme coin team. “Get up with that L. “There is no Tony Stark on your team.” Shibarium’s lead developer admitted that competition from previous common altcoins is not on the bingo cards for 2024.
Just eight minutes later Litecoin’s official X handle sarcastically asked: “What is this? 8th grade?”
Meanwhile, SHIB Army’s favorite cryptocurrency is up 5.9% intraday, while flagship asset Bitcoin (BTC) hit an all-time high of $94,040.99 a few hours ago.
Shiba Inu’s price increase helps the meme coin maintain its position above Avalanche (AVAX). SHIB has regained $15 billion in market capitalization, but has yet to set a new price record in this meme supercycle, falling behind by more than 70%.
On the flipside
- Despite being much longer than Shiba Inu, the original altcoin LTC has a global market capitalization of $6.62 billion, which is almost three times smaller.
- SHIB’s Formula X has an audience of close to 4 million, outpacing Litecoin’s follower base. This makes Litecoin’s fan base equal to Shytoshi Kusama’s fan base of 1 million.
Why This Matters
The online debate between prominent figures in the cryptocurrency industry raises important questions about the current and future trends of the market.
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