Dogelon Mars price today, ELON to USD live price, marketcap and chart

Dogelon Mars is a cryptocurrency based on Ethereum’s blockchain using the ERC-20 token standard. The ERC-20 token standard is used by most fungible tokens on Ethereum’s network, including Uniswap, Chainlink and Aave. Ethereum’s network also secures the vast majority of non-fungible tokens on its network, using the ERC-721 token standard. While these tokens can provide radical returns to early investors, the price action is purely speculation. These tokens haven’t released many viable products, and more established cryptocurrencies should outcompete these meme cryptos in the long run.

The digital coin surged about 30% after the listing news hit the market. If it is listed on other major crypto exchanges, you can expect the price of ELON to hit new highs. It also became the most trade token among 100 ETH whales after flipping MANA. 50% of the token supply is locked permanently in the Uniswap liquidity pool, while the other half was sent to Vitalik Buterin. How the Ethereum co-founder Buterin will use his share will impact the value significantly.

  • Dogelon Mars sounds like a mashup of crypto buzzwords from 2021.
  • This means the market could sustain the rally for days or weeks before corrections.
  • We look at expectations for the crypto from forecasting sites.
  • The dog-themed coins have a strong community of followers which keeps the demand strong.

The massive sell-off then causes the price to crash, and possibly making the project worthless. By burning their liquidity provider tokens, the Dogelon Mars team tries to show that they are in it for the long haul, since they would be unable to withdraw any money from the project. As is the case with all other meme coins, its primary function is that of a digital currency that can either be held as an investment or exchanged for other cryptocurrencies. You will be able to pay for goods and services with meme coins once businesses begin accepting them as a valid form of payment. While it’s gained quite a popularity, it might not be the best investment option right now unless you strongly believe in the coin’s potential or are comfortable taking a risk. However, let’s get back to the first days of the cryptocurrency market.

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Once you are ready to sell your tokens you should probably use Gemini as it is the best U.S. centralized exchange that offers it. Learning how to close your position is just as important as learning how to buy Dogelon Mars. You probably won’t want to day trade your Dogelon Mars token, as you’d be required to pay high transaction fees for each swap.

  • Users who stake their ELON or ELON/WETH liquidity pool tokens receive xELON as a reward and can use it to vote on initiatives and other decision making.
  • To keep people interested, ELON will need to offer benefits to its holders.
  • Finally, ELON is an ERC-20 token with a limited supply of 1 quadrillion tokens.
  • Many community members are eager for a Dogelon Mars burn as it will increase the meme coin’s price through scarcity.

Well, it shows that the people behind Dogelon Mars aren’t looking to pull off a rug pull on investors. Rug pulls are scams that involve hyping a crypto project to increase its value. Once the value has gone up significantly, the project team then sells off everything.

Who are the Founders of Dogelon ($ELON) Coin?

If you are considering investing in cryptocurrencies, we strongly recommend that you always do your own research, not just relying on a single dogelon mars crypto price prediction. Look at the latest market trends, news, technical https://coinbreakingnews.info/blog/how-to-buy-ripple-on-voyager-how-to-buy-ripple-xrp/ and fundamental analysis, and expert opinion before making any investment decision. Not only do digital asset markets never close, but they’re more volatile than traditional investments like equities and real estate.

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The Dogelon developers have transferred the 50% of this coin to Vitalik Buterin, who is a visionary computer programmer and co-founder of Ethereum, the second-largest cryptocurrency. And from the remaining supply, 50% of tokens are permanently locked in the Uniswap liquidity pool. These things make this token unique in the cryptocurrency market.

For the price to increase significantly, an event or development prominent enough to stir a buying frenzy in the crypto market has to happen. Moreover, the US Federal Reserve’s interest rate hike, which started in March 2022, coincided with the Terra ecosystem collapse, the beginning of crypto doom. And the market responded with rapidly diminishing asset valuations. For context, cheap money refers to low-interest rates, often incentivizing borrowing and investment. Low-interest rates make funds for investment easily accessible fund to investors.

The main goal of this cryptocurrency was to become the first decentralized medium of payment and overcome the issues of the traditional global financial system. Until today, the idea and the plans of such cryptocurrencies have convinced millions of people, with most of them investing in this technology as a result. Billy Markus and Jackson Palmer created DOGE as an internet joke based on the popular meme at the time. It garnered a healthy following on Reddit as a tipping cryptocurrency.

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For this reason, we understand why the developers of Dogelon Mars decided to use Ethereum. ELON is an ERC-20 token on Polygon and Ethereum, which is one of the most popular blockchains and the go-to solution https://currency-trading.org/strategies/8-most-important-features-of-a-winning-trading/ for many decentralized applications. Its proof-of-stake consensus mechanism requires validators to stake 32 Ether to process transactions, store data and add new blocks on the Ethereum blockchain.

It also has a strong community donating ELON to recent crypto rug pulls victims. They want to restore the public’s faith in cryptocurrency projects. In practice, ELON is a meme coin without much utility beyond buying it and holding it in a wallet like Metamask.

Whoever said that it’s hard to become a millionaire has clearly never made their own dog-themed cryptocurrency. The second half of the overall coin supply was put in a liquidity pool on Uniswap, a decentralized crypto exchange. The team also deposited 40 ETH (worth $100 thousand https://crypto-trading.info/best-ways-to-earn-free-bitcoin-2020/ at the time) into the liquidity pool. They received tokens in return for being liquidity providers for Uniswap. The developers of Dogelon Mars have also announced that soon you will be able to stake your ELON tokens, which will earn you a new token by the name of xELON.

Is Dogelon Mars worth buying?

We’ll find out more about ELON Dogelon Mars tokens as we dig in and see if it’s worth investing in. The stated purpose of ELON token is to serve as an “intergalactic currency” that future space colonizers can use on Mars and beyond. However, the project team has not released a whitepaper or detailed roadmap outlining their development plans. As of January 2022, over 100,000 crypto addresses hold ELON tokens, and Dogelon Mars currently has over 320,000 Twitter followers and 85,000 Telegram community members. As a result, Dogelon Mars has earned some respect within the broader crypto space, although it remains to be seen whether the project will succeed in the long run. Dogelon Mars ELON/USD has experienced a significant surge of 30% in the last 24 hours, surpassing the gains of popular meme coins such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD.