A lighthearted spat between the official social media account of cryptocurrency Litecoin and crypto influencer Benjamin Cowen has caught the attention of the wider crypto community over the weekend. The exchange began when Litecoin, the 21st largest cryptocurrency by market capitalization, responded to Cowen’s joke about the cryptocurrency’s market capitalization.
Cowen had initially made a joke about Litecoin’s market capitalization, saying it reminded him of the great recession. Litecoin shot back, saying “Your head reminds me of the big recession,” and Cowen replied, “Your market capitalization reminds me of the great recession.” The jokes continued, with Litecoin saying “You could use a cap” and Cowen responding with more humor.
The back-and-forth exchange also included a reference to the popular bear reversal pattern, with Litecoin saying “I call that the ‘necessity of head and shoulders’.” According to Coinmarketcap, Litecoin’s price has fallen by 67% since May 2021, when it reached $410.26. However, the cryptocurrency has also seen a 69% increase in price over the last year.
The Broader Community’s Reaction
Litecoin is no stranger to humor online, with its social media account often posting memes and playful responses to engage its 1.2 million X followers. The community has taken to the joke, with many enjoying the lighthearted exchange between Litecoin and Cowen. Cowen even joked that he was trying to convince Litecoiners to convert to Bitcoin, saying it was a “small price to pay for the well-being of well-being.”
The carefree social media feud is not uncommon in the crypto industry, and it is usually enjoyed by the community. The exchange sparked the interest of other cryptocurrencies, with the official social media account of Dash commenting, “Price chart immediately means you’ve lost the argument.” Cowen replied, “Dash fell against Litecoin by 99%. Why don’t you sit it out?”
Impact on Trader Sentiment
The ongoing exchange has prompted some traders to reconsider their stance on LTC. Bitcoin trader Tyler Durden said, “Immediately buy Litecoin.” The interest in Litecoin has also been fueled by the announcement of several asset management companies intending to launch Litecoin ETFs in the US. On February 6, Grayscale applied to list shares of the Grayscale Litecoin Trust as an exchange-traded product (ETP) on the New York Stock Exchange (NYSE) Arca.
Only a few months earlier, in October 2024, Canary Capital submitted registration documents for a spot Litecoin ETF. The increased interest in Litecoin has led to a discussion about whether the current price of LTC, which is below $90, is a buying opportunity or a warning sign. As the crypto community continues to watch the price action of LTC, it is clear that the lighthearted feud between Litecoin and Cowen has brought attention to the cryptocurrency.
For more information on the Litecoin and crypto influencer feud, visit https://cointelegraph.com/news/litecoin-crypto-influencer-fued-price-action-ltc?utm_source=rss_feed&utm_medium=rss_tag_litecoin&utm_campaign=rss_partner_inbound
