2021 became the year of the meme coins boom. As many projects as never before appeared in the crypto space attracting attention of the community not by the utility, but by the cuteness and creativity of the idea. Dogelon Mars gained over 4000% in October and is still surging. Read our Dogelon price prediction to understand how the story can develop.
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Dogelon Mars Fundamental Analysis
Dogelon Mars is a new meme cryptocurrency that became popular recently earning attention by the smart marketing but also thanks to its name, hype from both Dogecoin and its main supporter Elon Musk. Though the CEO of Tesla is famous for his support of new meme cryptos he never mentioned the ELON token on his Twitter or anywhere else.
The project is built around the Dogelon Mars ERC-20 token with the ticker ELON. It got no utility in the real world, instead, the project is based on the made-up story about the Dogelon dog coming from the Mars of the future and aiming to colonize the red planet again. But to do this he needs to bring the right technologies on Earth. A new and the first interplanetary cryptocurrency ELON is one of them.
On the official website of the project, the comic about Dogelon can be found. In the story, the goal of implementing a new cryptocurrency is explained by the desire of Dogelon to take people on the trip with him. The journey is supposed to take holders to the Moon and then to Mars, just as Elon Musk intends to do. Suddenly the asset attracted significant attention from the community becoming one of the main gainers in the industry.
ELON token is currently available for swapping on top exchanges including KuCoin, Uniswap, BitForex, ShibaSwap, Bitrue, 1inch Exchange, Poloniex, etc. The token had no presale before the launch, but half of the total supply was distributed to Vitalik Buterin who later donated them. The other half is permanently locked with Ether on Uniswap.
In a matter of months, ELON token joined the top-10 most purchased digital assets.
Dogelon Mars Live Price Chart
The token was launched at the end of April and was traded for $0.000000084, but shortly after that thanks to the community support it started to gain value and on April 28 reached $0.00000041, multiplying its price.
After this price surge, the token was pulled off to the previous level and was following a bearish trend till the beginning of July. At that period the price started to grow again and suddenly skyrocketed on May 12 reaching $0.0000022. The token went for a bearish run straight after that and continued to lose its value till the end of July when it suddenly hit the all-time high of $0.000041.
Skyrocketing the price was just a one-day adventure and the next day token returned to the level of $0.000000059, the price lower than on the initial stage. Token was quite stable with this price till the beginning of October when the price started to increase again along with the rapidly growing crypto market. ELON became the number 1 gainer of October increasing its value by almost 4000%, but went to the bearish rally right after hitting $0.0000024 on October 30. The price has been bouncing since then. Analysts though don’t expect ELON to continue the bullish rally on a long perspective and expect the meme token to significantly lose its value.