Maybe, maybe not. For what I know, crypto behaves in strange and bizarre ways. Litecoin's current pump is largely attributed towards Bitcoin's gains on the market. After all, the pioneer cryptocurrency has reached a new ATH (all-time-high) of $22k per coin. For Litecoin to be able to reach higher prices on its own, developers are going to need to bring something out of this world in order to attract people into it. A simple privacy upgrade like Mimblewimble won't do much in terms of long-term price. Litecoin needs a little "pizzazz" in order to stand itself among other cryptocurrencies on the market. Otherwise, it'll become nothing more than a speculative instrument (just like it's the case with Dogecoin today).

Nonetheless, time will tell us whenever Litecoin will reach a huge pump on the market or go all the way down the drain. Unlike most cryptocurrencies out there on the marke, Litecoin has a limited supply of 84 million coins. It's even scarcer than Ethereum itself. Yet, Ethereum has a higher price than LTC reaching a target of more than $600 per coin. This is odd, considering that ETH's max supply is undefined. A cryptocurrency with an inflationary model like ETH should be less valuable over time. Based on this alone, we could say that ETH is overvalued. That's not the case with Litecoin, as it's a deflationary cryptocurrency like Bitcoin. It's more undervalued than anything else. Sometime in the future, Litecoin will shine as developers work tirelessly to make it a success (hopefully). Just my opinion