New Solana-Based Meme Token, Litecoin Mascot (LESTER), Hits $120 Million Market Cap Within 48 Hours of Trading Launch

A new Solana-based meme token, Litecoin Mascot (LESTER), just hit a $120 million market capitalization within 48 hours of its trading launch

A new Solana-based meme token, Litecoin Mascot (LESTER), has hit a $120 million market capitalization within 48 hours of its trading launch, according to data from GeckoTerminal.

The token, which is named after a stick figure meme created by a popular X account, has seen its price surge over 700% over the past 24 hours, with daily trading volume exceeding $164 million. LESTER has secured listings on crypto exchanges including Gate.io.

The meme token is not officially associated with the Litecoin team, but its creation and rapid market cap gain were spurred by a humorous interaction on social media.

As part of a recent rally in meme coins, the Litecoin account playfully announced its new status in a tweet on Friday.

Due to current market conditions I now identify as a memecoin.

— Litecoin (@litecoin) November 14, 02024

In response, the Dogecoin account showed its support by suggesting the creation of Litecoin-themed memes to help solidify its new identity, even proposing a “chibi mascot” for Litecoin.

A new memecoin was born when a top meme account on X, known as Greg, joined in on the fun and created a simple stick figure meme with the Litecoin logo as its head, naming the character “Lester.”

Here they go pic.twitter.com/hTnjuFUYMC

— greg (@greg16676935420) November 14, 02024

Lester

— greg (@greg16676935420) November 14, 02024

The interaction and Greg's meme quickly gained attention and inspired a community effort to create a memecoin in Litecoin's honor, leading to the creation of LESTER on the pump.fun platform.