Dogecoin May Be Muted But This 'Relative' Is Up 8% Today

Dogecoin DOGE/USD relative Litecoin LTC/USD is seeing an upward movement, after trading below the $60 mark for several weeks.

What Happened: At the time of writing, LTC was trading at $62.85, up 8% in the last 24 hours, according to CoinMarketCap. This comes as meme coins DOGE and Shiba Inu SHIB/USD remain relatively unchanged in the past 24 hours, gaining 0.45% and 0.15%, respectively.

FTX FTT/USD collapse sent shockwaves to the overall crypto market, plunging apex crypto Bitcoin BTC/USD, Ethereum ETH/USD and others. LTC plummeted to $52 on the news of FTX collapse, however, has already regained the crucial $60-mark.

According to LTC Foundation, over 60 million Litecoin have been in cold storage for more than one year, sending bullish signals to investors.

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Earlier last week, MoneyGram MGI, a leader in digital P2P payments, announced the launch of a new service to buy, trade and store Litecoin.

Price Action: ETH is trading at $1,223.17, up 1.07% in the last 24 hours. Bitcoin is at $16,905, up 1.77%, according to Benzinga Pro.

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