In these volatile market conditions, many crypto investors are looking for stability and longevity. Inspired by Bitcoin (BTC), Litecoin (LTC) runs on a slightly modified version of the largest cryptocurrency asset. One of the first altcoins, LTC emerged in October 2011 and proved resilient to the merciless bear market and even the scandals characteristic of the crypto world in 2022.
Thus, the 13th-ranked OG altcoin managed to surpass the extremely popular canine memecoin Shiba Inu (SHIB). This comes right after SHIB reached the highest point in its market value for the past three months.
#LTC reaches its highest level since May, while #SHIB reaches a three-week high.
— विशाल जैसवाल (@VishalJ_05) December 6, 2022
Both Altcoins Record Double-Digit Gains in Two Weeks
The 11-year-old cryptocurrency caught a strong bullish sentiment right after MoneyGram announced the implementation of the LTC blockchain into their crypto service. Besides, LTC is just as decentralized as BTC, which serves as a big advantage in these market conditions, as the trust in CeFi exchanges is at an all-time low after the FTX disaster.
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At press time, LTC is priced at $79.45, according to CoinGecko. Despite a 4.6% decline in the last 24 hours, the old altcoin is still enjoying juicy 29.5% gains over the past two weeks.
NEWS UPDATE: @Litecoin pumps as @MoneyGram decides to integrate LTC payments, and halving approaches on ~July 29th, 2023. 🔥#Crypto #CryptoNews #Litecoin $LTC #LTC #MoneyGram
— 🥷 Gokhshtein Media (@gokhshteinmedia) December 5, 2022
On the other hand, SHIB is changing hands at $0.00000939, also dropping by 3.4% in the last 24 hours. However, SHIB is still up by 11.1% in the last two weeks.
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In contrast to the recent success, the two-year-old memecoin still struggles to reclaim its crucial support line at $0.00001. That’s mostly because of the delays in upgrades – Shibarium, the Layer-2 solution, is still awaiting launch.
Just over a year ago @ShibaSwapDEX launched with fanfare that matched the spirit of the #SHIBARMY. As a result within 24hrs it attracted a record +$1B TVL, thanks to the Liquidity Event. Very SOON #Shibarium will launch. We expect the impact will be even greater 🐕🚀 $SHIB $BONE pic.twitter.com/23h4I7ftRm
— SHIB Planet (@ShibPlanet) December 6, 2022
On the Flipside
- SHIB’s gas fee token Bone ShibaSwap (BONE) outperformed LTC, with a whopping 46.4% growth in the last 14 days.
Why You Should Care
The price of SHIB tends to correlate with LTC, as seen in the latest altcoin bull runs.
Track the latest moves of the canine coin Shiba Inu:
Shiba Inu (SHIB) Contested by Baby Doge Coin (BABYDOGE) – Here’s How
Shiba Inu (SHIB) Sees Massive Inflow Of Ethereum (ETH) Whales – Here’s Why
