Factors that helped the Dogelon Mars to receive such popularity
High QuantityAs the supply is so high for the dogelon it is easily accessible for users to buy. In the current market dip, the market cap of Dogelon Mars is $179,987,558 ( ₹14,285,913,122).
Low priceDue to large quantities and easy availability the prices of Dogelon are quite low. At the moment the price of 1 ELON is $0.0000003565 (₹0.00002824). And the highest ever reached price of ELON was $0.000002593720 on 30 October 2021. At the price of Bitcoin and Ethereum, you can buy millions of Dogelons.
People interested in entertaining thingsAs the concept is quite entertaining to people, they are more interested in it so they are buying it. Things that go viral on social media and the internet just create a trend and people just start following them easily.
Backup from powerful people like Elon MuskEvery time Elon promotes or talks about meme currencies, notably ELON, the price rises, and all of the meme coins gain in popularity. Elon is a big supporter of meme coins in general.
What can risk the growth of Dogelon Mars
Changing TrendsMeme coins are very popular among people and new coins keep forming which also changes the trends. So it is likely that Dogelon can be forgotten with time with the arrival of new coins. It’s not that this meme coin will disappear randomly one day, but the prices may drop for some time.
Easily availability leads to limited growthAs the supply is so high that everyone can easily access it or buy it that doesn’t create demand and crypto’s price is highly dependent on the demand. If the demand is easily fulfilled the prices won’t go much higher causing the limited growth of ELON.
Having no purposeThere’s no information about the owner and the purpose of this meme coin that does not really make sense. However, there’s no actual use for this except the fact that it is an interplanetary currency. It is only growing because of its hype, so there is a risk when the hype goes down.
How can you buy Dogelon Mars on Suncrypto in India?Dogelon can be purchased in a variety of ways. You can just mine it yourself or take it as payment for goods and services. The most commonly used and safe method is to get it through a reliable exchange like Suncrypto. Follow these steps to buy your Dogelon on the Suncrypto Exchange
- Download the Suncrypto application from the Play Store or the App store
- Complete the KYC process by filling out the requirements
- Make a deposit on the account to buy cryptos on the platform
- Search the Dogelon Mars meme coin on the application
- Select the quantity and press buy
- And you are done with the buying process
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