Lets first analyze Litecoin. It is different from Bitcoin in 3 major ways. It runs under a different algorithm, the block speed is much faster, but the network power is not as strong as the one of bitcoin. Back in the good ol days Litecoin was peaking at $45, but what happened now? The simplest explanation is that the hype died. Litecoin was hyped to be ASIC resistant with its Scrypt mining algorithm and because the confirmation arrive much faster it seemed like an improvement upon bitcoin. However, we have since seen the release of the GridSeed which is an ASIC miner for litecoin. The release of the ASIC miner ruins the hype that litecoin is in fact ASIC resistant because GridSeed proves otherwise.
The other hype that surrounded litecoin was its faster transaction speeds and how it must be a better network. Wrong, just because a block can be solved faster and the confirmations arrive faster does not mean that the network is faster. Think of it this way, litecoins blocks take 2.5 minutes to be solved on average, and bitcoin blocks take 10 minutes to be solved. So in other words, 4 litecoin confirmations = 1 bitcoin confirmation security wise. So just because a confirmation arrived earlier does not mean that the transaction is just as secure as that of a longer arriving confirmation (hope that made sense).
So since litecoin is not asic proof and faster transaction speeds do not equal the same security, the hype has died. There is no real use for litecoin now because it is just another version of bitcoin with a few differences. It falls in the category of all the other litecoins which do not have any significant difference or improvements.