Solana meme coin Litecoin Mascot soars to $120 million market cap in less than 48 hours of launch

November 15, 2024 Blockgates Blockchain Comments Off on Solana meme coin Litecoin Mascot soars to $120 million market cap in less than 48 hours of launch

Key Takeaways

  • Litecoin Mascot (LESTER) reached a $90 million market cap within 48 hours of launch.
  • LESTER secured exchange listings and saw a 700% price surge post-launch.

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A new Solana-based meme token, Litecoin Mascot (LESTER), just hit a $120 million market capitalization within 48 hours of its trading launch, according to data from GeckoTerminal.

In its first 10 hours of trading, LESTER achieved a $40 million market cap with over $62 million in trading volume.

The token’s price has surged over 700% over the past 24 hours, with daily trading volume exceeding $164 million. LESTER has secured listings on crypto exchanges including Gate.io.

LESTER was launched on the pump.fun platform after the Litecoin account humorously declared itself a “memecoin” amid a recent rally in meme coins.

In response to Litecoin’s playful announcement, the account of Dogecoin, a well-known memecoin featuring the Shiba Inu dog mascot, offered its support by suggesting the creation of Litecoin-themed memes to help solidify its new identity. Dogecoin even proposed the idea of creating a “chibi mascot” for Litecoin.

Greg, one of the top meme accounts on X, joined in on the fun, crafting a simple stick figure meme with the Litecoin logo as its head and naming the character “Lester.”

While not officially associated with the Litecoin team, LESTER gained momentum from the social media interactions between Litecoin, Dogecoin, and Greg, as well as enthusiastic responses from both the crypto community and meme enthusiasts.

Litecoin’s native token, LTC, also experienced price and volume increases following these exchanges.

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