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Dogeliens and Litecoin are top cryptocurrency gainers to watch in 2022

Eight months before the eagerly anticipated halving event, which will reduce Litecoin’s rate of supply increase by 50%, Litecoin has shown a divergence from the market-wide drop

Dogeliens and Litecoin are top cryptocurrency gainers to watch in 2022
In other news, Dogeliens (DOGET) is back to its initial momentum before the market crash

The cryptocurrency market has had tough handles on all crypto assets these past few weeks. However, it has loosened its grip in the last few days and allowed some cryptocurrencies to grow, giving holders some decent profit back. Litecoin (LTC) is a beneficiary of that price pump, and there may be a few reasons for it.

Eight months before the eagerly anticipated halving event, which will reduce Litecoin’s rate of supply increase by 50%, Litecoin has shown a divergence from the market-wide drop. The third halving of mining payouts, scheduled for August of next year, would reduce the rewards given to LTC miners for logging transactions on the blockchain from 12.5 LTC per block to 6.25 LTC per block. Litecoin’s narrative changed from negative to positive in the months preceding its two prior halving rounds in 2015 and 2019.

In other news, Dogeliens (DOGET) is back to its initial momentum before the market crash, and its presale is again looking good. Dogeliens presale started to move faster after the Dogecoin (DOGE) pump from a few weeks back in reaction to Elon Musk news. Memecoin lovers have discovered Dogeliens as an underpriced iteration of dog memes and believe that it can help them make a lot of money.

Litecoin Rides The Market WaveLitecoin (LTC) is a first-generation cryptocurrency and a Bitcoin (BTC) fork. At the time, it sparked conversations that compared both blockchain networks. Bitcoin was referred to as digital gold, while Litecoin was called digital silver. Litecoin was initially created as a response to large-scale mining firms gaining the upper hand in Bitcoin, which could make it more centrally controlled. However, Litecoin itself could not stop enterprise miners from taking over the lion’s network share. Hence, it became a mineable coin and a payment system like Bitcoin.

Litecoin launched with 150 pre-mined coins, generating a new block every 2.5 minutes. The total supply of the token is 84 million coins which are designed to reduce over time. When a block’s hash and the transaction data included in the block are validated, and a new block is formed, the miner is rewarded. At certain thresholds, these rewards are split in half until the next threshold; this process is called halving, which helps slow down the creation of new coins.

Litecoin’s price was about $150 at the start of the year. However, following market bearishness caused the cryptocurrency value to drop as low as $42 in June. Despite the improvement, it spent most of the time locked below $55 twice in November alone; it rose beyond the mark. Dogeliens On A Mission To Take Memes To A New DimensionDogeliens (DOGET) is a new memecoin project whose emergence spells good signs for the next bull run. It’s another iteration of dog memes, and the DOGE community and other memecoin lovers have adopted it.

Dogeliens aims to be a DeFi memecoin, using the available resources decentralized finance enables to create wealth for its community. Launching on BNB Smart Chain will allow the project to thrive as one of the most scalable available networks and the second-largest network in the DeFi market.

Dogeliens uses dog memes in a much better way. Because the token supports a variety of utilities that Dogecoin couldn’t, it would be able to create more community fun out of cutting-edge utilities like NFTs. Dogeliens has looked promising and continues to gain traction as investors look for the next big thing.

Dogeliens appears as the next big memecoin because other popular options are already overpriced for the usual massive price pumps. With Dogeliens still on presale, investors get in at a very low price and take advantage of the wide profit margin. Join the Dogeliens presale, and don’t miss out.

Also Read: GameStop to stop with cryptocurrency initiatives post Q3 losses worth $94.7 million

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First published on: 09-12-2022 at 17:25 IST