On 23 April 2021, the Dogelon Mars was aired but there’s no news of its owner, also it does not have any white paper to explain the purposes or features of this meme coin. In terms of popularity, the same trend is followed by Dogelon Mars (ELON) as the doggy duo. ELON token is named after Tesla CEO Elon Musk and his enthusiasm for his business SpaceX, which is clearly understandable by the name.
The maximum supply for ELON is 1 Quadrillion and the supply in circulation is 549,740.65B ELON. The cryptocurrency’s creators claim it as interplanetary money used by space settlers and define it as a legitimate universal currency for the people. Dogelon Mars is built on the Ethereum Blockchain
Dogelon Mars is both a cryptocurrency and a fictional character from a comic book that is available for purchase as non-fungible tokens (NFTs), but you can only purchase them with Ethereum. The unique feature about Dogelon is that the owner didn’t keep any of the tokens or did a presell, all the tokens are available for the public.
Similar to the SHIBA Inu owner, the owner of the Dogelon Mars also sent 50% of coins to the Ethereum co-founder Vitalik Buterin. Out of that Vitalik sent 43% to a charity
Factors that helped the Dogelon Mars to receive such popularity
High Quantity
As 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 price
Due 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 things
As 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 Musk
Every 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 Trends
Meme 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 growth
As 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 purpose
There’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
Dogelon Mars is a popular cryptocurrency and has a good reputation in the crypto market so it is a good investment to start with low prices. Even though the investment is easy a person should do their own research before investing in the market.
For more crypto-related information and news you can check out the Suncrypto academy.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you to please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].
