Well, no cryptocurrency really dies as long as at least two or more people use it. What can happen is it can become less likely people ever adopt it, though. For example, if a cryptocurrency had only 2 people with 70% of the coins it would be unlikely anyone else would adopt it.

I only recently looked into Litecoin, but quickly realized it had the most traction of all the other alt-coins presently. It has the highest market exchange rate after Bitcoin. It was in the $.04-.05 range when I looked into it 2 days ago, but it's now in the $.05-.06 range, about a 20% increase. Apparently it was once $.03. The alt-coin section of this forum is dominated mostly by Litecoin discussion/projects, as is the trading chat on btc-e.com. So I would say no it's not dying, but growing and of course that can speed up or even explode anytime.

Regarding a LTC foundation how DARE you even suggest it  

J/K   Of course that thought had crossed my mind. Yes, any alt-coin might gain a foundation just as Bitcoin has, but it wouldn't matter because concentration of power would be divided; and the more alt-coins with market prominence the more chance to escape from and/or divide centralized power.