In October 2021, Dogelon Mars (ELON) reached an all-time high of $0.00000259. But like other meme coins, the project could not resist the horrors of the bear market. Today, the ELON crypto is trading less than 85% from its all-time high.
Dogelon Mars only saw the light of day in 2021, but it already has a rich history of events and successes
First of all, you should know that the founders of Dogelon Mars are anonymous. The project was launched on April 21, 2021 with a fixed supply of one quadrillion coins, which is the total supply of Shiba Inu tokens.
Another interesting fact, the Dogelon community donated 50% of the total supply to Vitalik Buterin, the founder of Ethereum. In turn, Vitalik donated 43% of his ELON tokens to the Methuselah Charitable Foundation.
The remaining 50% of the total supply of the Dogelon Mars crypto has been deposited into the Uniswap liquidity pool. As you will have understood, the primary objective of the developers was to gain credibility.
In addition to ELON tokens, Dogelon Mars developers have deposited 40 ETH into the Uniswap DEX liquidity pool. In return, they received LP tokens (liquidity provider tokens). Then they decided to burn these tokens to prove that they “are not here to make easy money”.
As you know, LP tokens allow liquidity providers to withdraw their funds at any time. By burning these tokens, the Dogelon Mars team no longer has any means of stealing user funds.
Indeed, the primary objective of Dogelon Mars is to help victims of crypto scams. It is therefore not a simple meme coin, but a project that brings together the most philanthropic members of the crypto community.
Dogelon Mars originated on the Ethereum blockchain as an ERC-20 token. A few months after its launch, the project launched on the Polygon blockchain, further gaining investor confidence.
As the Dogelon Mars community ramps up development efforts, the future of the project looks bright.
Apart from the support it offers victims of crypto scams, Dogelon Mars aims to create a story for its community. It is indeed a very sci-fi focused memecoin. Likewise, its developers present it as a universal currency that will be used when “Mars is recolonized in 2420”.
The project roadmap is not very detailed. However, the development team plans to launch a staking token called xELON to accelerate the adoption of Dogelon Mars.
The huge amount of ELON tokens available is a real problem. But throughout the bear market, the market capitalization of Dogelon Mars remained above its historic low, which can be considered a positive sign.