Litecoins are going to follow Bitcoins, as silver is to gold. I'm sure you've heard about the recent Bitcoin explosion, but here's some cliffs:
-Bitcoin is an online currency
-Computers "mine" for the coins
-Originally worth $0.04 per Bitcoin, they reached $199 today. $20 in 2009 could have been $99,500 this morning.
Litecoin is a similar cryptocurrency, but smaller. It is currently ~$4.50 for one, which is up from ~$1.40 just days ago, and originally was $0.001 per Litecoin.
Why Litecoin is expected to increase rapidly:
-MtgOx is the largest Bitcoin trader, claiming to represent 80% of all Bitcoin transactions. They recently stated that Litecoin is going to be added to the site. People speculate that when they add it, that will lead to it immediately jumping up by potentially several times its current value.
-Developers are currently working on marketplaces that will accept Litecoins as currency. Whereas the only place Bitcoins are actually spent and not just traded is Silk.
-Litecoin mining won't be ruined by ASICs boxes like Bitcoin mining. It's essentially a high powered box that can mine at a much faster rate than anyone can manage at home. Bitcoin mining won't even break you even on your electric bill. But Litecoin mining is faster, and solves for smaller blocks. It is potentially a more longterm version of Bitcoin, and it is currently following the same upward trend.
Obviously a lot of hype is building around Bitcoins, even in the media. It has the potential to become an actual respectable currency. I wouldn't be surprised if it starts being accepted at common type places. Bitcoin has made many millionaires in the past week (check the reddit bitcoin board for stories). It will be interesting to see how insane this can get before a significant decline. But Litecoins are comparatively in infancy, and with this Bitcoin hype, just watch the Litecoin value follow soon..