Dogelon Mars is an Ethereum-based project that uses the ERC-20 token standard. This implies it may design its unique features inside the token while still using the Ethereum network for security.
Its tokenomics is one of these qualities. Vitalik Buterin, the developer of Ethereum, was given 50% of the initial supply. The remaining 50% was invested in the Uniswap liquidity pool. The token was listed on the DEX for the first time on April 22, 2021. (IDO).
The initiative aims to develop “intergalactic money,” albeit no details on how this would be accomplished have been revealed. Aside from very hazy ambitions, the project isn’t accomplishing anything in terms of functionality.
A substantial chunk of the ELON price increase of 100,000% may be attributed to the investment community. The initiative combines Twitter and Telegram to contact approximately 250,000 people and urge additional people to invest. The community is very supportive of the token and is always willing to help.
Despite the fact that the project claims to be a fork of Dogecoin, there is little evidence to support this claim. It has a far larger maximum supply than DOGE and functions in a totally different way.
The project’s originator also claims to be called Elon, yet no one can verify this information since the founder is nameless. They may be aiming to attract additional investors by implying that the coin is backed by Elon Musk. The real Elon Musk, on the other hand, is exceedingly unlikely to be involved with the initiative.
Dogelon Mars enters DeFi with memecoin.
What exactly is a dogelon mars coin? Dogelon This cryptocurrency, like other dog-themed memecoins such as dogecoin, shiba inu, and floki inu, is based on a famous Internet meme about a Shiba Inu dog, but incorporates tongue-in-cheek allusions to Elon Musk and cryptocurrency values soaring “to the moon.”
An unnamed group of developers designed Dogelon Mars to operate on the Ethereum and Polygon blockchain networks. ELON debuted on the Uniswap decentralized market in April 2021. (DEX).
The community decided to airdrop 734 million ELON tokens to everyone who lost money on the WOGE token rug pull on April 23, 2021, according to ELON’s devs. When the creators of a cryptocurrency project advertise their idea and then remove all liquidity, the price drops to zero; this is known as a rug pull. Following the CUBACOIN rug pull, the community conducted an airdrop of over 72.7 million tokens on May 16.
During the introduction of the first Dogelon Mars comic non-fungible token (NFT) on the OpenSea marketplace on April 25, the Dogelon Mars project had over $100 million in volume exchanged in less than 24 hours. ELON hit 50,000 holders by the middle of May 2021, when cryptocurrency markets were surging.
Dogelon Mars had a maximum supply of 1 quadrillion coins, half of which was locked to the Uniswap market by the creators. They gave the remaining 50% to Vitalik Buterin, co-founder of Ethereum, in the same manner as dogecoin developers delivered DOGE to Buterin’s cryptocurrency wallet. Buterin then destroyed and donated his DOGE holdings, claiming that he didn’t desire the power that comes with having huge sums of currency from other projects.
On May 25, 2021, the biomedical charity Methuselah Foundation announced that it had received a gift from Buterin for 43 percent of the ELON supply. “We will manage such assets to maximize the $ELON’s long-term value in order to achieve the Foundation’s purpose,” the Foundation added. The donation on May 12 startled the rapidly increasing Dogelon Mars community, which had anticipated Buterin to keep his $ELON holdings indefinitely and remove them from circulation. The contribution sparked worries about the $ELON’s liquidity, putting its worth in jeopardy.
“Today, Dogelon is regarded as a high-risk investment.” We believe that our stewardship will maximize its worth, allowing it to contribute to the life-extension mission to which we are devoted.”
The ELON coins will be held by the foundation for at least a year, according to the foundation.
With the creation of an xELON token and a collection of non-fungible token (NFT) characters in October, the ELON developers revealed ambitions to join the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems. The xELON currency, a governance token with a DeFi earning algorithm and a staking incentive, was introduced in November.
Users that stake their ELON or ELON/WETH liquidity pool tokens are rewarded with xELON, which they may use to vote on initiatives and make other decisions.
Popsicle Finance, a decentralized market maker on the Ethereum network, was the project’s first DeFi partner.
The ELON token does not have the same amount of usefulness as other cryptocurrencies like dogecoin, which is being accepted by an increasing number of retailers. However, it has piqued the curiosity of whales, or huge cryptocurrency investors. According to WhaleStats, in November, ELON flipped Decentraland’s MANA token to become the most traded crypto among the top 1,000 Ethereum whales. A whale purchased 816 billion ELON coins for $1.28 million on November 30.
Market capitalization of Dogelon Mars
ELON’s market value crossed $1 billion in October 2021, however it is now at $450 million, placing it in the top 150 cryptocurrencies in terms of market capitalization. It is now worth roughly $0.0000008081, after rising over 4,000 percent in October alone.
The currency has a current quantity of about 550 trillion tokens in circulation, with a maximum supply of 1 quadrillion.
Price Increases and Future Prospects
Dogelon Mars is currently ranked 120th on the Crypto list, with a market cap of $1,983,605,856,593. It began trading in May 2021 at $0.000000120 and reached a high of 0.000002663 in October of the same year. It’s currently worth $0.000001068.
Dogecoin and Shiba Inu, as previously said, rose thousands of times in 2021. Is Dogelon Mars capable of doing the same feat? The pricing forecasts for 2022 by Dogelon Mars will be discussed in this article.
Predicting cryptocurrency values with absolute precision is a tough assignment. We can, however, extrapolate previous data and use mathematics and artificial intelligence to estimate the pricing of these instruments. CryptoPredictions.com is one of the greatest crypto prediction sites for that, and their Dogelon Mars estimates for 2022 are shown here.
first and second quarters of 2022
The price of ELON is presently $0.00000113. Before the end of February, CryptoPredictions predicts that the price will climb to 0.000001464 and then decrease to $0.0000009958. For the month, the price is expected to average $0.000001171. Forecasts predict that the price will average $0.0000012407 in March.
According to the website, Dogelon Mars is projected to have a strong start to the second quarter. However, the price of an Elon coin might drop to $0.000001127 due to normal ups and downs, but a rally could drive the price to $0.000001657. In May and June, the meme coin is anticipated to increase in value to $0.000001412 and $0.000001503, respectively. Dogelon Mars is expected to increase to $0.0000018788 in June, a new high for the first six months, according to CryptoPredictions.com.
The third and fourth quarters
According to forecasts, purchasers may drive prices higher in the third quarter, finally crossing the $0.000002 level. The price is projected to fluctuate between $0.000001350570281 and $0.000002195577893 during the next three months.
Dogelon’s rise is expected to continue unabated, according to the CryptoPredictions.com algorithm. In the final quarter, an ELON coin is projected to trade between $0.000001557159505 and $0.00000246781981. In October, the price is predicted to average $0.00000246781981; in November, it will average $0.000001906164097; and in December, it will average $0.000001974255848.
There are no detailed use cases for Dogelon Mars. Much of its development, like that of other meme currencies, is dependent on support from the community of dog lovers. Indeed, Elon Musk’s tweets encouraging or incorporating SHIB and DOGE into Tesla payment systems had a significant impact on their growth.
Despite the link with his name, Elon Musk, the CEO of Tesla and the creator of SpaceX, has yet to support it. A single tweet praising the cryptocurrency may skyrocket the price. Dogelon Mars has a market valuation of $608 million, whereas Dogecoin has a market capitalization of $20.92 billion. Dogecoin would have to increase 300 times to match Dogelon Mars. There’s plenty of space for improvement.
The coin’s availability will have an effect on future price. Dogelon Mars has a maximum supply of one quadrillion. The Uniswap liquidity pool has permanently frozen half of the token supply, while the other half was given to Vitalik Buterin. The value of the Ethereum co-founder Buterin’s stake will be considerably influenced by how he uses it. First, consider donating to a charity that will have little impact on the value. Burning the Crypto, on the other hand, would reduce the supply by half. If demand stays stable or grows, ELON’s value might rise dramatically.
Listing on cryptocurrency exchanges is another aspect that might enhance the price. The Gemini trading platform makes ELON accessible for trading on ActiveTrader and API/FIX in December 2021. The euro, pound, US dollar, and Canadian dollar are all supported by the mobile app.
Huobi Global listed ELON in the same month. Following the announcement of the listing, the value of the digital currency increased by around 30%. It increased by 3,780 percent in October. If it gets listed on additional major crypto exchanges, the price of ELON is likely to reach new highs. After flipping MANA, it also became the most traded token among 100 ETH whales.
Technical analysis is the use of indications to forecast an instrument’s future price. Hundreds of indicators exist, each with varied degrees of accuracy. We examine the ELON price projection using five key indicators in the table below.
One of the simplest methods to examine price directions is to use the moving average. The MA line’s direction indicates the market’s direction. The downtrend has burned out, and the market is poised for a trend reversal, according to the MA line. It’s a wait-and-see scenario as to how far the rally will go.
The good news is that by posting green bars above the indicator’s zero line, the MACD indicator verifies the bullish signal. This is a sure evidence that the buyers are in charge of the market. In the following days, the value of ELON may continue to rise.
We can also anticipate the price of ELON by using a symmetrical triangle formation. After a false breakthrough, the price has returned to the triangle. We may anticipate the bullish trend to dominate the market if the price breaks out above the triangle. The price might rise to new all-time highs of $0.0000025.
Dogelon Mars is in an uptrend, according to the Relative Strength Index. After a downturn, the price dipped into the oversold zone, the rise began. Before reaching the overbought position and recovering, the uptrend seems to have a lot of room to develop. This indicates that the market might continue to rise for days or weeks before seeing a reversal.
One of the indications we may use to estimate the price is the Fibonacci retracement. Dogelon Mars is at a 50% level, according to the indication. Prices will reach $0.000001360 if they are pushed higher. Before a big resistance level at the current high of $0.000001894, the next obstacle is at $0.000001594. If Elon’s price rises, it will reach $0.000002740, which is the 1.618 Fibonacci level. This price is the same as the all-time high price. After then, it’s possible that the price may rise to $0.000004124. (2.618 Fibonacci Level).
Is Dogelon Mars on the verge of hitting $0.01?
Many memecoins are aiming to outperform the market and attain a price objective of $0.01, resulting in a windfall for investors. In the instance of Dogelon Mars, however, this is quite unlikely. The market value of the token would be nearly $5.5 trillion if it reached $0.01 right now. A market capitalization of $5.5 trillion would be almost 5 times the size of Bitcoin and nearly twice the size of the whole cryptocurrency industry. As more coins enter circulation, this becomes more difficult.
While a $0.01 ELON would make a lot of people wealthy, this price is very difficult to achieve. The maximum supply is just too much to sustain the goal price.
Where Can I Buy Dogelon Mars?
Dogelon Mars is a new project that isn’t listed on many centralized exchanges yet. Dogelon Mars may be purchased easily on Crypto.com. It is, however, accessible on decentralized exchanges (DEXs) like Uniswap and Gate.io.
To acquire ELON, first purchase Ethereum on a cryptocurrency exchange like Coinbase, eToro, or Gemini. An email address, a password, and some personal details are all that is required to create an account. You may buy ETH after your account has been validated and financed by ACH or credit transfer. Send it to a wallet, such as MetaMask or Coinbase Wallet, from there. You may exchange your ETH for ELON after you link this wallet to the DEX. Due to high reflection costs, you may need to set your slippage to 10%. Your ELON will be saved in your wallet when you complete the exchange.
What are Memecoins, exactly?
Memecoins are digital currency that are inspired by online memes or irony. Dogecoin and Shiba Inu, for example, are two of the most popular memecoins. To entice investors and inflate the price of these coins, satire is used.
Many memecoins may be quite volatile due to the fact that they are seldom used for anything other than investing. Memecoins are among the most volatile investments of all time, and investors should only put money into these assets that they are ready to lose.
Is it true that Memecoins are a fad?
Many people feel memecoins are in a bubble since they have skyrocketed in value in a matter of hours. This is most likely accurate, given many tokens do not have uses to back up the price. Many people predict that because of the lack of applications, the value of the tokens will plummet, leading the bubble to burst.
These tokens, on the other hand, may have enormous market capitalizations. Memecoins have a market capitalization of about $100 billion, and many think that values will continue to rise. Many coins have thriving communities that have no intention of selling their holdings.
Is Dogelon Mars a Good Business to Invest In?
Dogelon Mars will almost likely devalue as a long-term investment. There are no features to justify the price, and future plans are hazy at best. There are a slew of other cryptocurrencies with useful features and realistic goals.
The investment community, on the other hand, is quite robust and may continue to pump the token in the future. However, none of this is certain, and no one knows where the token will end up. Dogelon Mars might be the token for you if you’re ready to take a big risk. Expect the token to hit $0.01 in the near future, since this is practically impossible.
Dogelon’s Mars forecasts come to a close.
Meme currencies have piqued the interest of crypto entrepreneurs owing to their rapid rise. The demand for dog-themed coins is high since there is a large community of supporters.
Dogelon Mars is gaining popularity as a popular choice since, as a new currency, it still has a lot of space for growth before reaching its full potential. The cryptocurrency is now being offered on currency exchanges, bringing it to the attention of crypto investors and driving demand. It also has an advantage because of its ties to Elon Musk and Dogecoin. If dog-themed meme crypto currency aficionados accept ELON, it may be able to match or even exceed SHIB’s success.