Dogecoin, one of the biggest meme coins, has reached an all-time high of 650,000 daily transactions, surpassing Bitcoin and Litecoin. The surge in traffic is due to the increasing trend of piling tokens on top of the blockchain and the growing interest in creating tokens on the Dogecoin network using the DRC20 standard.

Litecoin's new token standard, LTC-20, has sparked renewed investment interest in the cryptocurrency, leading to a surge in active address numbers and a 13% price rally over the past week. The LTC-20 standard allows for the creation and management of fungible tokens, smart contract capability, and dApps, similar to Bitcoin's BRC-20 standard. Additionally, the number of active addresses on the Litecoin blockchain has reached a new record high, likely due to the hype surrounding LTC-20. The LTC price is currently moving inside a bullish technical pattern called the 'Ascending Triangle,' with a potential price target of $257 if the pattern is confirmed.

Litecoin's price has been on a bullish trend for the past few hours, with consecutive wins pushing the LTCUSD pair above the $88.00 level. In the past 24 hours, the coin's price has gained 6.43% and is now consolidating near the support at $82.32. The daily Litecoin price analysis shows a constant upward trend for the past week, with the bulls dominating the market and the RSI indicator pointing towards extreme buying pressure. However, traders should exercise caution as any sudden shift in events can lead to unpredictable price changes.

Although many cryptocurrencies have been experiencing a bearish trend in recent weeks, DigiToads has shown exponential growth during its presale stage. This groundbreaking and deflationary utility meme coin offers investors the opportunity to make passive income through various avenues, including a staking platform for NFTs, play-to-earn gaming, DAO treasury, metaverse, and a TOAD NFT collection.

Litecoin (LTC) has seen a significant increase in daily active network addresses, according to data from Santiment. However, the rise in transaction volume has only been slight, which is unusual. Santiment suggests that the recent introduction of the LTC-20 token standard is the driving force behind the increase in micro wallets on the network. Although LTC-20 has led to an increase in daily active addresses and transaction counts, it has not yet had a positive effect on the price of LTC. Litecoin remains the 14th biggest cryptocurrency in the world, with a total market cap of $5.88 billion.

Litecoin's price has been affected by the broader cryptocurrency market's recent downturn, with the cryptocurrency down over 10% this month and about 25% from its earlier annual highs. However, it is still up around 20% from its mid-March lows. Despite its recent dip below its 200-Day Moving Average, Litecoin's 2023 bull run remains intact and healthy. The upcoming halving event of 2023 and Litecoin's recent partnership with Mastercard are expected to boost adoption and suggest a strong outlook for the upcoming crypto bull market.

Litecoin's price has risen above $80.00, marking a third consecutive day of gains despite recent market volatility. The surge follows a recent six-week low of $75.32, with bulls in the market targeting a ceiling of $85.00. Meanwhile, Cardano's price has also seen a marginal increase, trading close to a key support level of $0.3580. However, gains have eased due to the RSI colliding with a ceiling at the 41.00 mark, with bearish pressure significantly higher than earlier in the day.

Litecoin's price is currently attempting to recover from a low of $75 against the US Dollar, but may struggle to surpass the $82 or $85 levels and could experience another decline. The price has moved up slightly and is now trading above $85 and the 100 simple moving average (4 hours), but there was a break below a key rising channel with support near $86 on the 4-hour chart of the LTC/USD pair. If the price manages to break above the $85 resistance, it could potentially increase towards the $90 and $92 levels, but if it fails to clear the $82 resistance level, there could be a fresh decline towards the $75 or even $72 support levels.

The Litecoin blockchain has experienced a surge in daily transactions over the past two days, as the Bitcoin network struggles with congestion and higher transaction fees. According to data from Glassnode, Litecoin processed a record-breaking 576,708 transactions on Tuesday, compared to just 100,684 on May 1.

Bitcoin and Ether both saw slight gains on Wednesday morning, with Bitcoin holding above the US$27,500 mark despite recent congestion and high transaction fees. Litecoin led the winners as users turned to alternatives due to these issues, logging a record-high in daily transactions.