What is Dogelon Mars?

Dogelon Mars is the latest dog-themed memecoin. This ERC-20 token is built on the Ethereum and Polygon blockchains and trades under the ticker ELON.

As with all cryptocurrencies, only invest what you can afford to lose. All tokens can appreciate and depreciate in value, and memecoins can be especially volatile. Make sure you practice risk management and do your own research before buying any new crypto coin.

Tl:Dr:

  • Current trading volume $7,073,836

  • Current market cap of ELON - $254,489,604 USD

  • Max supply of 1 quadrillion ELON coins

  • ELON coins have a circulating supply of 549,652,770,159,583 

Its quirky name is a combination of Elon Musk and Dogecoin. Not only is the eccentric millionaire Elon Musk a vocal supporter of DOGE but, Dogecoin is the original dog-themed memecoin that rose to prominence and set the precedent for crypto projects such as Shiba Inu (SHIB), Dogeliens (DOGET) and Dogetti (DETI). 

What’s the story behind Dogelon Mars?

The development team behind Dogelon Mars have not only created a canine character to represent the project, they’ve even made a comic to tell his full story. 

Dogelon Mars is exploring the galaxy, solving the space’s biggest mysteries, and hoping to recolonize his home planet.

But Dogelon Mars and its ELON token are deeper than just a fun title and whimsical backstory.

What’s the utility of Dogelon Mars?

Crypto projects that riff on animals and especially dogs, are often written-off as jokes. But any decent trader can profit from memecoins with goo timing, research and the right strategy that plays off the hype and knows when to exit.

Dogelon Mars and the ELON token has philanthropy at its heart. This is best exemplified by their launch strategy, which had decentralization and fairness at its core. They wanted to create fair, decentralized and universal currency for everyone across the globe, and to this end they didn’t hold a presale or keep any ELON tokens for themselves.

One of the team’s key aims is to repair the reputational damage done by crypto scammers. So, after sending half of the 1 quadrillion ELON tokens to Ethereum founder Vitalik Buterin (who in turn donated approx. 43% to charity), the dev team then deposited the other half in a Uniswap liquidity pool.

And to prove they weren’t going to execute a rug pull, they proceeded to burn the liquidity provider tokens they received from Uniswap so that they couldn’t withdraw the coins or accrue the liquidity rewards later down the line. 

In addition, Dogelon Mars often encourages its fans to donate ELON tokens to victims of cybercrime, crypto scams and digital fraud.

A community-driven token

Thanks to Dogelon Mars' charitable and transparent mission statement, they have already attracted a dedicated online community. The project now boasts:

  • Nearly 444K Twitter followers

  • A 57K strong Telegram group

  • Supported by a range of exchanges

Many traders disregard memecoins as rubbish hype. But as DOGE and SHIB have proven, with dedicated communities backing them up, hype can make money and these tokens can not only be profitable but also help diversify portfolios.

~ Zac Colbert, The Crypto Journo

👍 If you liked this piece, give it a cheeky thumbs up. And if you want to stay on top of all the crypto industry news, from memecoins to regulations, follow The Crypto Journo and let me know what I should cover next! ✍️

#NFA #DYOR

Not Financial Advice. Always remember to do your own research and never invest more than you can afford to lose.