Today will be another special day, a different episode of the “Token Review” series. As probably have you already read from the title, we will talk about another “meme-token” Dogelon Mars (ELON)!
In the last review, I talked about another famous “meme-token” Shiba Inu, If you missed my last review, you can recover it here and here!
Let’s continue this special series dedicated to some funny “meme-token”!
First of all, let me remember you what “meme-tokens” are and what are the most famous.
Meme-tokens are cryptocurrencies that originated as a parody taking up a meme spread on the Internet. Once created, some meme-tokens gain popularity through publicity by various influencers on social media. In addition, there is a very large and passionate community of users and investors, often young people, behind the major meme-tokens. The most famous meme cryptocurrency is **Dogecoin **, but there are many others.
The main difference between projects such as Bitcoin, Ethereum, Chianlink, etc. and meme-tokens lies in their inherent utility and use. Most real cryptocurrencies are designed to solve a real problem, while meme-tokens are born as a joke, initially without defined goals. They are in fact parodies, intended more to amuse and capture attention than to offer a service.
After Dogecoin and Shiba Inu, today I introduce you another dog-themed token: Dogelon Mars.
Dogelon Mars (ELON) is one of many dog-meme tokens inspired by Dogecoin and, more specifically, Elon Musk. The owner of Tesla and SpaceX is somewhat of a meme in the cryptocurrency world and is often seen posting information about cryptocurrencies on his Twitter account.
The new cryptocurrency Dogecoin Mars may look like yet another copy of Dogecoin, one of entrepreneur Elon Musk's most popular cryptocurrencies. Dogelon Mars is based on the Ethereum blockchain, consequently its token, ELON, is considered an ERC 20 token. The token meme can be traded on Uniswap, KuCoin, Poloniex, Crypto.com.
The project is fork of Dogecoin. This means that it started from a fork of the original Dogecoin project, whose popularity it exploits to grow and place itself in the market. Today let’s see the origin of this meme-token.
The project originates, as we have already mentioned, from a fork of Dogecoin, created for the people and all those who have experienced economic losses due to cryptocurrencies by investing in projects that turned out to be mere scams. The meme-token marches on Elon Musk's name with the goal of increasing his notoriety. However, the entrepreneur is not the real Elon behind the project. In fact, Elon is also the name of the one behind the project. In just a few months, there has been tremendous growth of the new cryptocurrency, marking an increase of more than 120% in just a few hours, while it has a price of about US$0.00000031 (at the time of writing). Despite the price, the market capitalization is around $170 millions, and an average daily volume of $4.5 millions.
Like other meme-tokens, the strength that sustains these projects is mainly community and hype. Dogelon has a quite large community, making it the third largest meme-coin by market cap, ranking around #150 on CoinMarketCap. A lot of difference from the top two: Dogecoin and Shiba Inu, which rank #10 and #12.
If you want to check their official website that’s the link: https://dogelonmars.com/#
Next week we'll see new details about Dogelon Mars!
I invite you to follow me so you don't miss the second part of the article that will be released tomorrow.
What’s your favorite meme-token and why?