Published on CentBit.Online – Your Trusted Crypto & Blockchain Expert in Bangladesh
The Solana-based meme token Litecoin Mascot (LESTER) has taken the crypto market by storm, reaching an impressive $140 million market cap within just two days of its launch.
Rapid Growth of LESTER
As reported by GeckoTerminal, LESTER is currently trading at over $0.14, marking an 800% surge in the past 24 hours. With a 24-hour trading volume of $176 million and $2.53 million in locked liquidity, the token has captured the attention of traders and enthusiasts alike.
How Did LESTER Start?
The LESTER token’s rise began with a humorous tweet from Litecoin’s official account on X, jokingly identifying as a meme coin. This playful banter was picked up by Dogecoin, which suggested creating Litecoin-themed memes, including a “chibi mascot” for Litecoin.
Inspired by this, Greg, a popular meme creator on X, designed a stick-figure meme named “Lester,” featuring the Litecoin logo as its head. Although the project isn’t officially linked to the Litecoin team, it quickly gained momentum thanks to the combined efforts of Greg, Litecoin, and Dogecoin, alongside support from the wider crypto community.
LESTER debuted on the pump.fun platform and soon secured listings on major exchanges, including Gate.io, amplifying its market appeal. Within the first 10 hours, LESTER achieved a $40 million market cap with $62 million in trading volume.
Ripple Effect on Litecoin (LTC)
LESTER’s buzz also boosted interest in Litecoin’s native token, LTC, which has seen a price increase of nearly 2% in the past day, now trading at $82.71.
Memecoins Continue to Dominate
LESTER’s success is part of a broader trend where memecoins, including Peanut the Squirrel (PNUT), Pepe (PEPE), and Dogwifhat (WIF), are leading market gains. This surge coincides with Bitcoin reaching new highs, fueling speculation about an impending altcoin season.
Expert Insights on Altcoin Season
Crypto analyst Miles Deutscher explained that the market is still in Bitcoin’s price discovery phase, with altcoins poised for a rally once Bitcoin’s dominance wanes. Meanwhile, analyst Ash Crypto noted that Bitcoin dominance, now at 60.80%, might have peaked, signaling a potential shift toward altcoins.
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