- There are historical ties between the two, as Dogecoin was developed using Litecoin’s Scrypt-based code and relies on Litecoin’s merge-mining security
- Last year in November, Litecoin made waves by whimsically declaring itself a ‘memecoin’, to which Dogecoin responded with meme-based encouragement and creativity
- According to CoinGate data from several days ago, Litecoin is now the second most used cryptocurrency for payments, just behind Bitcoin
Litecoin’s official X account surprised the Dogecoin community with a Q*bert-inspired meme and a message of support stating: “I’m here for you, dogecoin.”
Dogecoin users and proponents saw it as an unexpected show of solidarity between two cryptocurrencies.
Interestingly, there are historical ties between the two, as Dogecoin was developed using Litecoin’s Scrypt-based code and relies on Litecoin’s merge-mining security.
Then last year in November, Litecoin made waves by whimsically declaring itself a ‘memecoin’, to which Dogecoin responded with meme-based encouragement and creativity. This exchange and the “announcement” triggered a temporary 15% LTC price jump.
Dogecoin even helped propose a chibi mascot for Litecoin, but the meme got misused in a new Solana token called LESTER, prompting Litecoin to clarify it wasn’t affiliated.
But don’t call Litecoin just a meme
With posts like these, it looks like Litecoin is leaning into meme culture to regain its spotlight in a crowded market.
Still, it seems that the cryptocurrency is faring rather well, since Litecoin processed its 300 millionth transaction in January 2025, underscoring its continued use as a fast, reliable payments network.
According to CoinGate data from several days ago, it’s now the second most used cryptocurrency for payments, just behind Bitcoin. This illustrates its appeal for everyday transactions thanks to speed and low fees.
What about Dogecoin?
The most popular meme coin is still holding on despite the ever-present mixed fundamentals. Dogecoin saw roughly an 8.5% boost in the last 7 days, and its market cap is currently sitting at $33.78 billion.
Recently, whales have bought over 230 million DOGE in a time span of 24 hours, as reported by crypto analyst Ali Martinez. What’s more, a few days before, whales bought more than one billion DOGE in one day.
The full story: That 230 million DOGE purchase was a major signal. CoinEdition broke down the full story on the massive whale accumulation right here.
Fueled by growing whale activity and its potential as a mainstream payment solution, it looks like the interest in Dogecoin’s utility beyond its meme status is on the rise. This is even supported by its ever-decreasing inflation rate, which, in spite of unlimited supply, makes it a viable candidate for use as a currency.
Of course, this is all speculation, but Dogecoin reveals the enduring power of meme culture to sustain market relevance even amid fundamental skepticism.
The bigger picture: Here’s what one top analyst is predicting for the altcoin market.
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