Litecoin price is surging, with $3 billion in trading volume driving explosive upward movements.
Meanwhile, all eyes are on Pepe Unchained as it nears its highly anticipated DEX market debut.
In this article, explore the latest Litecoin price trends, and discover whether a new meme coin, Pepe Unchained, could be a better investment at this time.
As Ripple’s XRP bolsters the market for older cryptocurrencies, Litecoin has shifted to strength after renewed market interest triggered a sudden $3 billion inflow in trading volume over the past 24 hours.
With a market cap of $9,109,561,831, the surge in trading volume has propelled Litecoin back into the top 25 cryptocurrencies, sparking speculation of an XRP-style breakout for the Bitcoin hard-fork project.
Litecoin Price Analysis: Can LTC Deliver an XRP-Style Breakout or Will Shorts Prevail?
As open interest racks up high in short positions, the tension around Litecoin price is palpable, with LTC currently trading at a market price of $121 (representing a 24-hour change of +1.64%).
This comes after the Litecoin price bounced hard from moving average support, bolstered by XRP’s strong performance, which saw XRP overtake SOL on the Weekend.
Breaking to the upside comes after days of sustained ascendant moves, propped up by tight support from the 20DMA since the beginning of November.
With the 20DMA now left standing at $108, it appears Litecoin is in the midst of a bullish rally, with price action currently probing resistance at $125 after initial rejection was met with a well-defended consolidation above $115 by holders.
The upside move has seen the RSI over-heat, however, this is rapidly cooling down to lower levels amid the consolidation, suggesting upside movements could be on the cards soon.
As it stands, upside targeting remains above resistance at $130 (a possible +9.4% move), while downside risk could see LTC plummet back down to 20DMA support at $108.5 (a potential -9.17% drop).
This leaves Litecoin with a mediocre risk: reward ratio of just 1.03 on the short-time frame, which is relatively unalluring for most investors, yet, this doesn’t mean there’s not exciting opportunities available in the crypto market today.
Investors Await Highly Anticipated Pepe Unchained DEX Launch: Just 2 Weeks Until PEPU Rocks Meme Coin Market
After months of waiting, Pepe Unchained is set to launch the PEPU token in just two weeks’ time, in a DEX launch awaited by tens of thousands of retail investors following the successful presale.
With over $50M raised, PEPU is shaping up to be Q4’s biggest meme coin launch, with top analysts like Jacob Bury forecasting potential 20x returns post-launch.
This comes as no surprise to those who have been following this promising layer-2 build, which is designed from the ground up to become the most popular meme coin-focused layer-2 blockchain.
No longer will the Pepe ecosystem be chained to ERC-20 purgatory; the new PEPE chain will bring high-speed deployment and trading of steaming hot meme coins to a low-cost arena in which anyone can participate.
And the devs are putting their money where their mouths are, with an active grant fund named Frens with Benefits underway and taking applications from some of the most respected degens in the space to ensure the Pepe Unchained layer-2 undertakes forest fire ecosystem growth.
Then there is the so-called Pepe.Pad, which aims to replicate the success of Pump.Fun in enabling everyday people to bring their meme coin ideas alive on-chain for next to no upfront cost.
So don't miss out on this last chance to buy Pepe Unchained before the high-octane launch.
Check Out Pepe Unchained HereThe post Litecoin Skyrockets With $3 Billion Volume, All Eyes Now on This Explosive Coin Listing appeared first on Cryptonews.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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