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Litecoin Trading Activity Increases Over The Past Month – Potential LTC ETF Draws Speculation

Litecoin is on the verge of breaking multi-year highs at the $147 level, defying the overall negative sentiment in the crypto market. While selling pressure and uncertainty have slowed the broader market, LTC has held strong, just below key supply levels. This resilience has fueled optimism among investors, with many anticipating a potential breakout in the coming days. Related Reading: Cardano Remains In Consolidation – Expert Projects 25% Price Move A crucial factor contributing to Litecoin’s strength is growing speculation around a Litecoin ETF. According to key data from IntoTheBlock, the number of short-term LTC traders has increased by over 12% in the past month. Historically, surges in short-term trading activity have preceded major price movements, indicating that investors are positioning for a potential rally. With ETF discussions gaining momentum, traders are closely watching Litecoin’s price action. If LTC successfully reclaims $147, it could open the door for a significant breakout. However, failure to push past this resistance could lead to increased volatility. As the crypto market navigates uncertainty, Litecoin remains one of the few assets showing relative strength, keeping investors hopeful for a strong move in the near future. Litecoin Holds Key Levels As ETF Speculation Grows Litecoin is trading at crucial liquidity levels after a volatile week, struggling to reclaim momentum following Friday’s market breakdown caused by the Bybit hack, resulting in $1.4 Billion in ETH stolen from the exchange. Just as LTC was preparing to push above multi-year highs, negative sentiment hit the crypto space, leading to a wave of selling pressure across the board. Despite this, analysts remain optimistic, calling for a massive surge in Litecoin once the broader market regains strength. Many believe LTC is positioned to outperform other assets when the market enters its next bullish phase. Speculation surrounding a Litecoin ETF has added fuel to the growing interest in LTC. According to IntoTheBlock, the number of short-term LTC traders has increased by over 12% in the past month. This rise in trading activity suggests that traders are closely watching Litecoin, betting on the possibility of an ETF announcement that could drive prices higher. Historically, major ETF approvals have resulted in strong rallies, and investors are speculating that LTC could follow the same pattern. For now, Litecoin remains in a consolidation phase, with traders looking for confirmation of the next major move. If LTC reclaims key resistance levels and ETF speculation continues to grow, the next breakout could be one of the most significant in recent years. Related Reading: New Chainlink Addresses Hit Highest Levels Since January – LINK Network Growth Accelerates LTC Testing Key Demand As Market Awaits Breakout Litecoin is currently trading at $123 after experiencing a sharp 13% drop from local highs set on Friday. The price action reflects broader market uncertainty, but LTC continues to show strength, holding above key support levels. Investors remain optimistic, believing that Litecoin could be one of the top-performing assets once the market trends upward again. For now, LTC must maintain support above the critical $120 level to sustain its bullish structure. A successful reclaim of the $135 level in the coming days would signal renewed momentum, potentially setting the stage for a breakout into higher price levels. Analysts believe that if Litecoin manages to clear this resistance zone, a strong move toward multi-year highs could follow. Related Reading: Bitcoin Faces Serious Price Compression – What Happened Last Time However, if selling pressure increases and LTC loses the $120 support, a deeper retracement into lower demand levels could occur. This scenario would likely extend the consolidation phase, delaying any potential rally. Traders are closely watching Litecoin’s price action for signs of strength, as a bullish breakout could lead to one of the most significant moves for LTC in recent months. Featured image from Dall-E, chart from TradingView CoinOtag

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Why Meme Coins Represent Archetypes of the Collective Unconscious: CryptoQuant CEO

The meme coin sector is growing rapidly, with thousands of tokens released daily. While many market experts have bashed the industry and its inherent lack of utility, some others believe the sector is not completely useless. One of them is Ki Young Ju, founder and CEO of the market analytics platform CryptoQuant. Ju says meme coins are “archetypes of the collective unconscious.” Archetypes of the Collective Unconscious According to the Swiss psychiatrist Carl Jung, who developed the collective unconscious theory, universal, primordial images and patterns of thoughts exist within the shared unconscious mind of all humanity. These thoughts and images are considered archetypes and manifest in myths, dreams, and cultural symbols. They represent the fundamental aspects of the human experience and influence their behavior and perception of the world. In other words, archetypes are patterns of thought that strive for realization within a human environment. Hence, the process of actualizing these thoughts influences the development of an individual’s unique identity and guides their journey of self-discovery and transformation. Jung’s theory classifies archetypes of the collective unconscious into four main groups: self, persona, shadow, and anima/animus. Going by the classification, Ju believes animal meme coins reflect shamanism, a spiritual practice involving interacting with spirits through altered states of consciousness. Shamans revere animals and venerate them as spirit messengers and guides. Celebrity meme coins, on the other hand, reflect higher religions that revere humans. Meme Coins vs. Art Markets There are a lot of animal-themed meme coins, and they include the dog-themed projects Dogecoin ( DOGE ), Shiba Inu (SHIB), Bonk (BONK), Floki ( FLOKI ), and dogwifhat (WIF). Likewise, the market has seen a surge in the launch of celebrity meme coins like Official Trump ( TRUMP ), Mother Iggy ( MOTHER ), Official Melania Meme ( MELANIA ), Jason Derulo ( JASON ), Timeless Davido (DAVIDO), and Caitlyn Jenner ( JENNER ). Ju pointed out that human evolution has been driven by shared beliefs that encompass worshiping, forming groups, and collaborating and that meme coins are an outcome of such developments. Therefore, people who thrive as entrepreneurs in the crypto industry are those who can create something people believe in. Meanwhile, the CryptoQuant founder has also likened meme coins to art markets, insisting that the value of both sectors is assessed through narrative. The post Why Meme Coins Represent Archetypes of the Collective Unconscious: CryptoQuant CEO appeared first on CryptoPotato . CoinOtag