The Rebirth of Old-School POW Coins: Community-Driven Memechain Brings a New Path for LTC

Research report on Doge, LTC, BELLS, DINGO and PEP coins
Introduction
Litecoin (LTC), Dogecoin (DOGE), Dingocoin (Dingo), Pepcoin (Pep), and Bellscoin (Bells) are five tokens that are frequently discussed in the current cryptocurrency market. Each of these tokens has its own unique characteristics and has carved out a niche in different sectors.
1.LTC’s Prominent Narrative Dilemma
1.The Development History of LTC Token
Litecoin (LTC), created by Charlie Lee in 2011, aims to position itself alongside Bitcoin (BTC) as the "gold and silver" of the cryptocurrency space, with a focus on facilitating everyday transactions and rapid payments. Its primary objective is to offer faster transaction confirmation times and enhanced transaction efficiency. While Litecoin operates on a blockchain similar to Bitcoin's, it has introduced several key adjustments. In its early stages, LTC stood out for its relatively quick block generation time (around 2.5 minutes) and a more robust miner incentive model. Furthermore, it utilizes the Scrypt algorithm, which attracted a large number of miners to the network.
However, Litecoin has often been perceived as Bitcoin’s “testnet,” with many of its innovations and upgrades subsequently being adopted on Bitcoin. For instance, LTC was the first to implement Segregated Witness (SegWit) and the Lightning Network, offering Bitcoin valuable lessons. As a result, Litecoin has developed distinct advantages, particularly in terms of transaction speed.
Given the established reputation of traditional mining coins, the SEC appears to be reviewing Litecoin's ETF application, which suggests that LTC could potentially emerge as the next capital favorite after Bitcoin. However, capital inflows alone are insufficient for the development of a thriving ecosystem. A broad user base—the "mass line"—remains a fundamental pillar for sustainable growth. This article will begin by delving into the developmental challenges Litecoin faces, followed by an exploration of the opportunities presented by the MEME public blockchain within this ecosystem.
2.Growth Challenges Within the LTC Ecosystem
- Its scalability has fallen behind the industry's growth. As more users and transactions join, the network becomes more congested, leading to longer transaction times and higher fees. This was especially true during the inscription period, when users had to increase GAS fees to get ahead. Over time, the process became more time-consuming, and high fees became a result of internal competition.
- The social and community user base has become increasingly divided. The "old capitalists" have gradually monopolized access to LTC. The Proof-of-Work (POW) mechanism requires significant computing resources, and as mining costs and hardware demands rise, along with the increasing concentration of power resources, the entry barrier has grown higher. Similar to Bitcoin (BTC), retail investors have lost their ability to participate in the market. Without new retail investors, there is no influx of fresh blood.
- Intensifying competition is draining the vitality of the LTC ecosystem. Projects like Ethereum 2.0, which transitioned to the Proof-of-Stake (POS) mechanism, along with Ethereum’s Shanghai Upgrade in 2023 and Cancun Upgrade in 2024, offer better scalability, lower GAS fees, and reduced power consumption. New-generation Layer-1 blockchains like SOL and SONIC have also developed their own narratives, increasing the pressure on traditional Proof-of-Work (POW) tokens.
3.The Disparity Between Hashrate Growth and Coin Price Growth
- The overall hashrate of Litecoin (LTC) has been steadily increasing, yet the coin's price has not risen as anticipated. This disparity may disappoint many investors. However, a closer look reveals hidden opportunities in the growth of hashrate that retail investors may have overlooked, particularly with merge-mining coins like DOGE, PEP, and others.
- Merge-mining has become a key pillar supporting the LTC ecosystem. Four years ago, DOGE was merely an accessory to the LTC network. However, with the wealth-building effect of the zoo meme, the price impact of DOGE merge-mining on the LTC ecosystem has become increasingly significant. Specifically, the ongoing proliferation of merge-mining coins such as Dingo and PEP has provided users with additional income streams, partially offsetting the losses caused by the stagnation of LTC's price. Notably, Bells achieved remarkable success in the market at the end of 2024, generating significant market exposure and attracting substantial attention. Its liquidity and investment potential have given many investors new hope. The growth of LTC’s hashrate has also driven the development of the broader crypto ecosystem. With more miners entering the space, market activity has surged, leading to increased trading volumes. This activity not only boosts liquidity but also enhances the visibility of crypto projects like DOGE, Bells, Dingo, and PEP, attracting more investor interest.

4.Potential for Ecosystem Development and Market Performance
- LTC is not just a cryptocurrency project but also an incentive network and development platform. It is connected to a wide range of other blockchain projects, including exchanges, wallets, and payment processing platforms. Additionally, LTC can be integrated with smart contracts and the decentralized finance (DeFi) ecosystem, broadening its use cases and increasing liquidity.
- Community Market Sentiment. Both Doge and LTC have cultivated strong community effects, particularly on social media platforms like Twitter and Reddit. As a traditional POW mining coin that has withstood price fluctuations through multiple cycles, LTC’s price movements are often influenced by Bitcoin and Doge. On the other hand, Doge has shown remarkable resilience in both bear and bull markets, largely due to the unwavering support of its community. LTC has also established partnerships with several major cryptocurrency exchanges and platforms, including Coinbase, Binance, and BIT.COM. These collaborations enable LTC to quickly tap into market liquidity and enhance the ease of its circulation. The LTC community is vibrant and active, with the support, development, and promotion from its members being central to the token's sustainability and value.

2.LTC’s Shift Toward MEME Community-Driven Development
1. An Unsuccessful Transformation Marketing Campaign
As a form of "self - rescue," LTC seemingly started to intensify technological innovation in the meme - related area, promote cooperation with meme and other blockchain projects, and expand the concept of a meme mascot beyond POW mining for the project. In the year when LTC transformed into a memecoin, we witnessed many absurdities. Meme developers "set themselves on fire" to promote the project, and the guillotine - shaped candlestick pattern was inscribed on the immutable life blockchain. What is the motivation behind this transformation from an old - established POW - based L1 blockchain, painstakingly built over the years, to a memecoin - based L1? Is it to ride the popularity wave and expand the ecosystem, or do the developers have other motives? Let's uncover the truth together.

On November 14, 2024, LTC developers launched the meme project "Elester" on the SOL chain. Subsequently, on the same day, the official LTC Twitter account made a rather bewildering statement to its long-standing community and supporters: "Due to current market conditions I now identify as a memecoin." In an instant, traders who were crazy about memes thought they saw hope, and this also took POW miners by surprise. Instantly, the price of LTC increased by 10%. As the official exclusive mascot, Elester, riding on the dramatic hype brought by the official LTC, saw its price soar from $0.02736 to $0.41316, a 14 -fold increase in just five days, and then quickly dropped back to its original level.
It has to be said that the powerful promotion by the official LTC attracted a large number of buyers to pay for the marketing and sentiment. As an underlying public chain, apart from the wealth-creation effect, it should focus more on providing basic services. Directly promoting the token in such a way and then doing nothing further except reaping profits is really unseemly compared to other ecosystems like SOL. Elester experienced a roller-coaster ride from high to low. For this new type reformed meme, it needs a period of market adjustment. When its value reaches the expected price in my mind, I will immediately take profits, observe the market popularity, and then wait for the right entry point to test the waters with a small position. When playing with memes, don't be overly ambitious.

2. LTC’s Inherent Advantages for Meme-Driven Integration
Although its approach may seem unappealing, as one of the oldest cryptocurrencies, LTC has a certain market foundation due to its unique technical features and strong community support. Just as I mentioned above, there are people who are naturally willing to invest in its projects. The shift of LTC tokens towards memecoins can leverage its existing high-quality technology and the popularity of the LTC platform to facilitate this transformation.
- Firstly, the technical strength of LTC lies in the efficiency of its blockchain. Litecoin utilizes a blockchain architecture similar to Bitcoin's, but with a shorter block generation time of around 2.5 minutes compared to Bitcoin's 10-minute block time. This results in faster transaction processing, making LTC highly effective in transaction confirmation. This speed advantage is crucial for memecoins, allowing for quicker transaction confirmations and enhancing the user experience. In a highly volatile market, rapid transactions are a key factor in attracting users.
- Secondly, LTC employs the Scrypt algorithm, which requires ASIC mining machines. For experienced miners, the cost of mining new memecoins is minimal, as they only need to upgrade their equipment to participate in merge-mining. By primarily mining LTC while simultaneously acquiring DOGE, miners can help improve the network's decentralization. As LTC transitions into the memecoin space, it can leverage this to encourage greater community involvement in token mining and ecosystem development, further boosting the community’s cohesion and activity.
- Furthermore, LTC's well-established ecosystem provides a solid foundation for this transformation. Litecoin is already integrated with various wallets, trading platforms, and payment solutions, and these existing infrastructures can play a key role in promoting and adopting the new memecoin. This reduces both the time and cost involved in development and deployment.
- Finally, LTC's strong community support is another invaluable asset in its transformation. The Litecoin community consists of passionate developers and users who are deeply invested in the project and continue to support its ongoing development.
3.The Chosen One: The Meme Genes in the LTC Ecosystem's Big Family
It seems that since the rise of DOGE, LTC has been infused with a new MEME gene. Bells, Dingo, and PEP are all building their own communities by leveraging the unique MEME culture. We are delighted to see these L1 ecosystems emerging from MEME communities form a marketing matrix and interact with each other, enhancing the tokens' popularity and user engagement.
When transforming into a memecoin, LTC can fully utilize its high - speed transaction capabilities, decentralized mining mechanism, secure and reliable network, and mature ecosystem. Coupled with strong community support, it can form an attractive memecoin project, further expanding its market applications and user base. With the support of these high - quality technologies, LTC can stand out in the highly competitive memecoin market.
1.DOGE and BEllS Ushered in a New Era of MEME -ification for the LTC Ecosystem
- The Doge token, launched in 2013, uses the Scrypt algorithm and quickly became a coin for multi-mining alongside LTC. Its rise to fame was driven by a humorous and community-focused approach. With its light-hearted logo and vibrant community culture, Doge became widely known as a popular "tipping" token, perfect for small transactions and gratuities. With a block time of about 1 minute, Doge initially served as a tipping coin for Litecoin mining rigs. Miners could earn 2,000 DOGE for every LTC mined by binding their rigs to the LBTC Pool.
- The Bells token, built on blockchain technology, seeks to bring more participation and opportunities to the Proof of Work (POW) space. Its infrastructure includes a decentralized mining mechanism, an incentive-driven reward system, and a community-powered development model, forming a relatively mature ecosystem. In 2013, Billy Markus, the co-founder of DOGE and a software engineer at IBM with a passion for video games, created Bells in his spare time. The token was named after the currency used in the Nintendo game Animal Crossing.

3.Comparison of LTC, DOGE and BELLS
- Transaction Speed: All three tokens support a fast-paced, low-fee transaction model, making them particularly appealing for small-value payments and quick transfers. Notably, both Doge and LTC are widely used due to their relatively fast confirmation times and minimal transaction fees.
- Community Foundation: Doge has garnered a large following among novice investors, driven by its vibrant community culture. On the other hand, LTC attracts more technically inclined users thanks to its stable technological foundation. The Bells token, in contrast, has a smaller user base, primarily consisting of active participants on specific platforms.
- Unique Community Governance of Bells: Beyond the Proof-of-Work (POW)-based mining rewards shared with LTC and DOGE, Bells introduces an additional community-driven incentive mechanism. This feature fosters decentralized governance, allowing token holders to actively participate in decision-making, thus strengthening community engagement, loyalty, and the long-term value of the token.
- Issuance and Scarcity: While Doge has gained significant market popularity thanks to its internet meme status, it follows an unlimited issuance model. In contrast, the Bells token has a fixed total supply of 500 million coins. Similar to Bitcoin, it incorporates a halving mechanism for mining rewards, which increases mining difficulty and adds an element of scarcity, enhancing its long-term value proposition.
2.DINGO and PEP, Derived from DOGE
With the ongoing advancement of new technologies and ecosystems, the diversity and innovation of tokens are becoming increasingly significant. As emerging meme-based POW L1 ecosystems, Dingo and PEP are drawing attention from the mining market by leveraging a technical architecture similar to that of DOGE, along with their distinct narratives. Below, we’ll explore the unique advantages offered by PEP and Dingo.
- What’s more captivating than the Mona Lisa’s smile is the smile of PEP.
- PEP coin is a digital asset built around community culture and entertainment, often spread through social media platforms. It differs from its meme counterpart, Pepe, by just one letter. Both share the same eye-catching frog logo, which helps attract market attention. While they both belong to the frog meme category, the key distinction is that PEP represents a frog that can laugh, powered by POW computational strength, and ultimately, it will be the one laughing in the end.

b. As a unique concept within the PoW MEME ecosystem, PEP adopts the Proof-of-Work (PoW) model for reward acquisition. PoW is a consensus mechanism used to validate transactions and generate new blocks. Miners use their computing power to solve complex mathematical puzzles, competing for block rewards. This approach not only ensures the network’s security but also effectively prevents double-spending.
c. The main appeal of the PEP Meme token lies in its fun, community-driven nature. By adopting the PoW model, the decentralized structure of the PEP Meme token network is strengthened, reducing the market control exerted by a single meme and encouraging more users to participate in mining. This sets it apart from single-attribute memes like Pepe, which rely solely on viral spread. PEP’s PoW meme model engages the mining community, promotes mining participation, and plays a vital role in stabilizing the early development and circulation of the token.
d. Innovation and trend-following: The PEP token is adept at tapping into the latest trends and popular topics, creating fresh talking points and relevant elements. This enables the token to maintain the vibrancy of pure memes like Pepe while introducing the exciting aspect of PoW-style meme mining. It provides both meme-related entertainment and a unique PoW meme experience.
2.Dingo
- POW Consensus Mechanism:Dingo POW adopts the Proof of Work (PoW) consensus mechanism to ensure the network's security and reliability. This mechanism requires participants to engage in mining activities, leveraging computing power to maintain the integrity of the blockchain. While PoW is energy-intensive, it provides a higher level of security compared to other consensus models.
- Incentive Mechanism:Dingo POW features a well-designed incentive system similar to DOGE. Miners earn token rewards through mining activities and also participate in network governance. This dual-incentive approach encourages active user engagement, allowing token holders to play a significant role within the ecosystem.
- Token Mining and Computing Power:In Dingo POW, mining is fundamental to the network’s operation. Participants validate transactions by contributing computing power to ensure the blockchain’s security and integrity. The mining algorithm is designed to balance the computational power of various miners, maintaining fairness and decentralization. Miners solve complex mathematical problems to earn Dingo token rewards. The greater the computing power, the higher the chances of receiving tokens. This PoW-based mechanism allows users with technical expertise to mine with their own devices, contributing computing power to the network.
- Scalability:Dingo POW’s unique technical architecture enables rapid transaction processing, while supporting a large number of users and diverse application scenarios. This scalability not only improves the network’s operational efficiency but also strengthens its competitiveness in real-world applications.
- Community Culture:Both Dingo POW and Doge benefit from strong community support. The active involvement of users is a key driver of their development. Through platforms like social media, both tokens have cultivated vibrant communities that facilitate communication and collaboration among users.
Simplicity and Ease of Use:Much like Doge, Dingo POW is designed to be user-friendly, enabling widespread participation. Its simple interface and streamlined transaction process have attracted many ordinary users, lowering the entry barriers and making it more accessible.
7.Entertainment and Diverse Applications:Dingo POW, like Doge, integrates entertainment value while expanding its use cases. Both tokens encourage participation in activities such as entertainment and charity, fostering more interactive and engaging experiences for the community.

8.The unique architecture of the Dingo POW token, coupled with its strong community support and similarities to Dogecoin, provides a solid foundation for its growth in the cryptocurrency market. While Dingo POW is still in its early stages of development, its advantages and active community position it well to carve out a niche in the evolving digital ecosystem. Users looking to explore this emerging space can take advantage of the opportunities Dingo POW offers and benefit from the diverse advantages cryptocurrencies provide.
4.Growth Prospect of MEME POW Layer1
1. A better community foundation, an ideal choice for game development
One of the most significant advantages of Meme Layer1 lies in its unique community-driven cultural foundation, which makes it especially adaptable in the field of blockchain games. Meme culture, by nature, is a highly contagious phenomenon, thriving on humor, creativity, and interactivity. This allows it to quickly capture the attention and engagement of a wide audience. Such culture aligns perfectly with the characteristics of games, as gamers also seek entertainment, immersion, and interactivity. The community built around Meme Layer1 is well-suited to meet these needs.
- A Highly Active Community Atmosphere: The Meme Layer1 community is renowned for its vibrant activity, providing a solid foundation for the development of the gaming ecosystem. In blockchain gaming, user engagement and interactivity are crucial for success. The Meme Layer1 community motivates users through creative initiatives, content sharing, and decentralized governance mechanisms. For example:
- Creativity-driven: Players and developers collaborate to build game content, such as designing unique NFT characters or skins.
- Interactive mechanisms: Users are incentivized to contribute content through community rewards such as token airdrops and NFT authorizations.
- Community governance: Adopting the DAO (Decentralized Autonomous Organization) model, players collectively decide on game rules and economic mechanisms, fostering a sense of ownership and trust.
This open-ended model of community participation not only enhances user retention but also promotes the self-sustained growth of the gaming ecosystem.
- The Viral Spread of Community Culture: Meme culture’s viral nature provides unique advantages for promoting blockchain games. In the traditional gaming industry, marketing costs are high, and user acquisition expenses rise each year. However, within the Meme Layer1 ecosystem, users promote game concepts and gameplay to a wider audience through social media, content creation, and word-of-mouth.
- Decentralization Enhances Community Trust: The decentralized nature of Meme Layer1 ensures that players have ownership of their assets and transparency regarding game rules. In traditional gaming, centralized systems often leave players vulnerable to rule changes or service discontinuation. With Meme Layer1, the situation is different:
- Players possess ownership of their assets: Through blockchain technology, in-game items and characters can be minted as NFTs, giving players true ownership and transparency of their assets on the blockchain.
- Transparent and fair rules: The game’s economic model and rules are enforced through smart contracts, preventing developers from unilaterally changing the game mechanics. This ensures fairness and builds trust with users. The decentralized nature of Meme Layer1 makes it the top platform for both game developers and players, offering a secure and trustworthy environment that attracts more users and promotes healthy ecosystem growth.
2. Unique Advantages of Meme Layer1 for Game Development
Compared to other Layer1 blockchains, Meme Layer1 is specifically designed to foster the expansion and prosperity of the gaming ecosystem. Its high throughput, low latency, and flexible smart contract framework offer strong technical support for game developers. However, its true core competitiveness lies in the combination of its community foundation and cultural adaptability:
- Players’ sense of deep involvement: Through community governance and co-creation of content, players become builders of the game ecosystem, rather than just consumers.
- Unique cultural fit: Meme culture is highly compatible with the entertainment and interactivity of games, providing a greater sense of immersion and creative space for game users.
- Community-driven dissemination and development: By harnessing the viral spread effect of meme culture, games can rapidly grow their user base while reducing marketing costs.
Conclusion
Meme Layer1 is more than just a technological foundation; it is a blend of cultural phenomenon and community-driven power. This blockchain platform, which combines technological innovation and cultural strength, has unlocked new possibilities for both developers and players. Through active community engagement and deep involvement, Meme Layer1 not only supports the efficient operation of games but also injects a powerful force into the ecosystem’s growth. For developers aiming to create a sustainable, long-term gaming ecosystem, Meme Layer1 is the ideal choice.
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