Altcoins

Litecoin Poised to Follow Dogecoin Path to the Moon!

In only one week, the meme cryptocurrency has risen from $0.05 to more than $0.30 cent. Dogecoin’s demand is skyrocketing as cryptocurrency becomes increasingly common around the world. DOGE price increased by more than 181% in less than 24 hours, resulting in a surprising Dogecoin bull run.

Litecoin Price on the other hand was also showing strong momentum and, according to a trader, it could follow DOGE’s Path to the moon.

DOGE, Bitcoin, Ethereum Classic, Bitcoin Cash, Bitcoin SV, and Litecoin are among the six cryptocurrencies that Robinhood allows its users to exchange. DOGE’s current price behavior, according to trader and analyst “Pentoshi,” is due to this site.

Pentoshi also said that LTC’s price has benefited from PayPal’s crypto services. Pentoshi set support at 444,976 satoshis in the LTC/BTC trading pair, with a long-term goal of 996,579 satoshis. On the DOGE and LTC mining cycles, the trader added the following:

$DOGE and $LTC are mined together. Both have the same cycles shown here: They are cyclical and repeat their fractals. Litecoin is just starting! It’s all there when you zoom out. History simply repeats.

Litecoin (LTC) Price To Hit All-Time High!

LTC metrics like Net Network Growth, a metric to calculate Litcoin’s “real” network growth, Large Transactions, Concentration, and others are bullish, according to data from IntoTheBlock. Because of the rise in volume and open interest, the Futures Market Momentum is also bullish.

About $268 and $287, the metric In/Out of the Money Around Price suggests more appreciation and support for LTC. Near these numbers, over 100,000 LTC addresses purchased nearly 2 million LTC. 

Crypto trader Kaleo backed up the bullish argument by claiming that LTC’s price would hit $1,000 “imminently” and even set a higher target of $2,000. Hence Litecoin investors seem to have enough reasons to remain bullish

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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