Litecoin (LTC), a well-established cryptocurrency, has declared itself a meme coin whereas advocating for unity inside the blockchain neighborhood to deal with regulatory challenges. This transfer comes as meme cash like Dogwifhat (WIF) and Pepe Coin (PEPE) expertise a surge in recognition.
The meme coin surge intensified after WIF and PEPE had been listed on main U.S. platforms like Coinbase and Robinhood. PEPE soared by over 200%, reaching a file excessive of $0.00002597. In the meantime, Dogwifhat, a Solana-based meme coin, additionally made headlines after its Coinbase itemizing, with its value leaping 65% in a single day.
Towards this backdrop, Litecoin—a challenge that has been round since 2013 and was initially thought of a critical various to Bitcoin— rebranded itself as a meme coin. The transfer appears to be a strategic try to capitalize on the viral success of meme cash and keep relevance within the crypto market. The market reacted positively to Litecoin’s playful rebranding, with LTC seeing a 21% value enhance.
Requires Blockchain Unity in Battle Towards Regulation
In the meantime, Litecoin took this meme-inspired rebranding even additional. In a follow-up tweet, Litecoin’s crew 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 varied blockchain networks, together with Layer 1s and Layer 2s to come back collectively in what it described as a “combat towards the machine.” The tweet framed the cryptocurrency ecosystem as a collective of “memes,” suggesting that humor and shared identification could possibly be highly effective instruments in driving change.
Layer 1’s. Layer 2’s. Even Solana…lend me your ears.
We’re a crossroads in our combat towards the machine. On the finish of the day, we’re all memes. Embrace your inside memeness and be a part of forces with us. From the very best MCAP to the bottom, your voice shall be heard.
I’m asking… https://t.co/qOgvLYOMK0 pic.twitter.com/RFK9fPJ6S6
— Litecoin (@litecoin) November 15, 2024
Litecoin known as upon Dogecoin, the primary true meme coin, to draft 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.”
Nonetheless, past the humor lies a critical undertone. Litecoin’s message immediately addressed regulatory challenges from entities just like the U.S. Securities and Change Fee (SEC) and policymakers like Senator Elizabeth Warren, signaling a collective pushback towards perceived overreach.
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