Meme coins have stirred up conversations lately. From SHIB and FLOKI to dozens of DOGE spinoffs, we started seeing new meme cryptos almost daily. Investors are making millions in profits while riding the hype! But can this trend persist or will market exhaustion take over?
In this article, we take a look at one of these Dogecoin copycats – the Dogelon Mars coin. To provide you with a plausible Dogelon Mars price prediction, we take a look at the fundamentals and the reasons behind the hype. Moreover, we will compare it to other dog-themed meme coins to see how it stands against the competition.
Finally, we analyze some of the news that make this coin go viral lately, and will give it our best to provide some technical analysis. This way, we might be able to have a general idea of the future of ELON and complete the challenging task of providing you with the best Dogelon Mars price prediction possible.
- What is Dogelon Mars?
- How does ELON compare to other meme coins?
- Dogelon Mars price prediction – ELON in the news
- Upcoming additions to the Dogelon Musk ecosystem
- ELON price prediction – Dogelon Mars historical price action
- Dogelon Mars coin price prediction 2021
- Dogelon Mars coin prediction 2025
- What to consider before buying Dogelon Mars
- Concluding our ELON coin price prediction
What is Dogelon Mars?
Dogelon Mars is a cryptocurrency created by a community member that was tired of seeing people getting scammed through dubious meme coin projects. Created as an ERC-20 token on Ethereum, it aims to bring fortune to early investors.
In his initial statement, the original creator aspires to get his token to Mars, both figuratively and literally. His goal is to make investors rich enough so that they will be able to take part in an eventual exodus to Mars.
He also states that Dogelon Mars was created to eventually compensate victims of scams and rug pulls. To not be confused as a serious project, it fully embraces its meme-able side. The coin uses a combination of Doge(coin) and Elon musk for its name (DOGE+ELON). It doubles down on the bandwagon of dog-themed coins and the influence of Elon Musk in this crypto niche.
That the creator lucked out by coining in the $ELON ticker, as it has brought more hype than initially expected.
Dogelon Mars metrics
On the technical side, Dogelon Mars resembles many other Doge copycats. It has a huge market supply of 1 quadrillion tokens and a low price of a fraction of a cent. According to the official website of the project, half of these tokens are locked permanently in the Uniswap liquidity pool.
The other half of this supply was sent to Vitalik Buterin’s ERC-20 wallet. Buterin sent these funds to charity, which gave a viral marketing boost to the ELON cryptocurrency.
So to conclude, 43% of all ELON tokens are held by the Methuselah Foundation. While the charity has vowed to keep the tokens as a long-term investment, the danger of having such a huge supply concentration in one place could be a threat to the price stability. In practice, nothing could stop the holders from unloading copious amounts of ELON on the market and tank the price in the process.
How does ELON compare to other meme coins?
To continue with our Dogelon Mars price prediction, we should compare it to similar coins in the meme niche. This should allow us to assess whether it brings anything new to the table and can survive more than just a couple of hype waves.
DOGE vs ELON
Dogecoin is the veteran of the bunch, released in 2013. Unlike other pre-mined meme tokens, it’s a PoW coin that can be mined with the Scrypt algorithm. It has no limited supply and a steady 10.000 DOGE coins are created every minute.
This is in contrast to the pre-mined supply of ELON. However, for DOGE to reach 1 quadrillion tokens in circulation, we would need to mine it for another 192.000 years. This inevitably makes DOGE scarcer than ELON.
But where DOGE really shines against the competition, and ELON in particular, is its longevity. The original meme coin has already experienced a couple of bearish market cycles and has only come out stronger in the end. Over the years, the Dogecoin cryptocurrency has amassed a loyal following filled with celebrities such as Snoop Dogg and Elon Musk. This alone ensures that DOGE might survive the next bear market, while ELON might not.
SHIB vs ELON
To add a bit of relevance to our Dogelon Mars price prediction, let’s compare it to Shiba Inu, the first genuinely successful “Dogecoin killer”. A noteworthy achievement is that in October 2021, SHIB entered the top 10 cryptocurrencies by market cap.
Like ELON, there are 1 quadrillion SHIB tokens in circulation. Аnd they also went through a donation episode with Vitalik shortly after the token was launched.
Where SHIB differs from ELON, is that it proposes an intricate ecosystem for making passive income through staking, yield farming, and liquidity mining. Moreover, the coin powers the ShibaSwap exchange, a decentralized trading platform with decent liquidity.
For the time being, ELON has little-to-no fundamental value in comparison. Its main usage is to be a speculative instrument for making profits.
FLOKI vs ELON
Finally, we have the Floki Inu coin, named after Elon Musk’s dog. With 10 trillion tokens in circulation, FLOKI has a 100x smaller initial supply than ELON and SHIB. And while the fundamentals of FLOKI are as weak as those of Dogelon Mars, it has the (unfortunate) advantage of already being the victim of 2 rug pull scams shortly after release.
The FLOKI token has since recovered significantly and Solidity has reviewed its smart contracts, marking them as safe. This allows us to safely presume that FLOKI is not a scam and that other than volatility, investors aren’t at risk of another rug pull.
Moreover, the Floki Inu community leaders have engaged in an aggressive ad campaign across the world. Huge “Get Floki” posters can be seen in London and Dubai. According to the community admins, more metropoles will be targeted in the future.
#FLOKI's aggressive marketing campaign aimed at the Middle East started with Dubai today!— Floki Inu (@RealFlokiInu) November 1, 2021
It is impossible to walk around the Dubai International Airport without seeing the $FLOKI brand.
This campaign which will run for 1 month will be seen over 25.7 million times! pic.twitter.com/nc47nQVim1
Dogelon Mars price prediction – ELON in the news
With all that being said, Dogelon Mars has been all over the news lately. Considering its gains compared to the rest of the altcoin market, this is not a surprise. To continue with our Dogelon Mars price prediction, let’s have a look at some major headlines and events that contributed to this rise in value.
The 0x bug that brought 50.000% (fake) gains
In August 2021, following a glitch from crypto exchange 0x, ELON suddenly appeared in the top 10 coins on CoinMarketCap. The real value of the coin was, of course, much lower. At the time, Coingecko reported ELON somewhere around the 600th place on its rankings.
And while it lasted only a couple of hours, the glitch played out quite favorably for ELON holders. Like many other doge-themed coins before it, it drew immediate FOMO. Prices rose and tokens gained more than 200% in just a couple of hours.
While the price retraced significantly shortly after, this put Dogelon Mars on many investors’ radars as a coin that can provide incredible gain opportunities.
Dogelon Mars tops the Uptober charts
While October 2021 was a very positive month for the entire cryptocurrency market, meme coins stood out from the crowd. And while SHIB was the hot topic because of its long-term gains, Dogelon Mars topped the charts, and by far.
In reality, ELON dwarfed the competition in gains (+5000%) and in traded volume ($850 million on the 30th of October). This propelled the meme coin to a valuation of over $1 billion and put it in the top 100 coins by market cap.
Viral ad campaign
Similar to FLOKI’s ad campaign, Dogelon Mars posters have been appearing all over New York City. While the scale is significantly smaller, we can’t shun the power of viral marketing. It plays on the FOMO, inviting investors to buy ELON in case they missed the SHIB hype train.
Upcoming additions to the Dogelon Musk ecosystem
In this Dogelon Mars price prediction, we previously mentioned the lack of fundamentals of the ELON coin. However, the team behind the project is seemingly looking to remedy this significant drawback:
In October, the official Medium page of Dogelon Musk announced that it was going to enhance its ecosystem by releasing a staking mechanism for ELON tokens. By staking their ELON holdings, users will receive xELON tokens. This new cryptocurrency will later see some (still undisclosed) usage within the new ecosystem.
Additionally, the team also briefly hinted about a Dogelon Mars NFT collection that would come at the same time as xELON.
If the developers deliver, this would add adds another dimension to the ELON tokens. It certainly opens new opportunities for passive income and increased utility, and therefore, value. The announcement resulted in an incredible 500% price increase, solidifying ELON’s status as an easily hyped-up coin.
ELON price prediction – Dogelon Mars historical price action
Next in our Dogelon Mars price prediction, we will take a look at the historical price action of ELON and how certain events have influenced its value:
- The CoinMarketCap bug in August pumped the price 200%.
- Rumors of an Okex listing (which turned out to be true) started a huge rally. This allowed the coin to gain 200% in just a few days.
- The xELON announcement confirmed the bullish momentum and contributed to an incredible +500% rally.
Dogelon Mars coin price prediction 2021
In the chart above, we can see that the price candles are forming a triangle that could go either way. Considering the current market the price could drop somewhat in the short term.
However, we can expect a bounce from the support level at $0.000001. Following the bounce, ELON should follow the rest of the market towards new heights and reach $0.000004 by the end of the year.
Dogelon Mars coin prediction 2025
Providing an accurate Dogelon Mars coin price prediction for 2025 is challenging, at best. There are too many factors that can significantly influence the price of ELON in the long term, either positively or negatively.
Our year-long experience in this market tells us that Dogelon Mars relies on too many unknowns to survive an eventual bear market in the near future. Consequently, our Dogelon Mars price prediction for 2025 is quite bearish, and we can safely say that the coin would have lost most of its value by then.
What to consider before buying Dogelon Mars
Before we conclude our Dogelon Mars price prediction, let’s have a look at the main factors that you should be aware of going forward:
- No fundamentals – As we saw in our comparison versus the other meme coins, Dogelon Mars doesn’t have anything to propose regarding fundamental values. Other than a bit of fun, there’s not a lot to see here. The low price is the main appeal, like with many other doge-themed meme coins. For a couple of dollars, you can become an ELON coin millionaire, which appeals to a large number of investors.
- Non-audited smart contracts – because the smart contracts behind the Dogelon Mars cryptocurrency haven’t been audited yet, there’s still the danger that there could be a rug pull scam around the corner. With the upcoming addition of an earning ecosystem and liquidity pools, investors should be extra careful as this remains a real threat.
- Still lots of room regarding market cap – on a more positive note, we can see that there’s still some room for the upside for ELON tokens. SHIB reached market exhaustion only at $30 billion in market cap. So, there’s still a lot of potential for growth.
- Listed on a handful of respectable exchanges – unlike FLOKI and many other meme coins, ELON is not a DEX-only coin. It has the benefit of being already listed on some reputable centralized exchanges like Kucoin, Gate.io, Okex, and Poloniex. And yet, the price could significantly benefit from future listings on large crypto exchanges such as Binance or Coinbase.
With all that in mind, we can wrap up our Dogelon Mars coin price prediction.
Concluding our ELON coin price prediction
In this ELON coin price prediction, we gave you the rundown of this meme coin. We compared to the competition and discussed the reasons behind the hype and upcoming updates.
Like with any other dog-themed meme coin, you should be extremely careful when investing in ELON. There’s no guarantee that the coin isn’t just an elaborate scam, at least not until a reputable auditor verifies the smart contracts. And keep in mind that the price could crash overnight, as ELON is all hype and no fundamentals.
That said, it still hasn’t run its course considering its market cap is still at “only” $1 billion dollars. If we compare it to SHIB, its market cap could grow 20 times bigger. But can history repeat itself? Only time will tell.