After the tremendous bull run of Dogecoin (DOGE) in early 2021, many meme coins hit the crypto market. Dogelon Mars (ELON) was one of them, a dog-themed coin aiming to replicate DOGE’s success. Despite its ticker symbol, Elon Musk is not involved in any way with the development of this cryptocurrency. However, this coin’s name refers to Musk’s vision of colonizing Mars. Besides, this coin’s price is somehow influenced by the appearance of the billionaire in the headlines.
But what are the perspectives of this meme-coin? Should you invest in this cryptocurrency in hopes of a massive price surge in the coming years? Let us find the answers to these questions in the following Dogelon Mars price prediction.
Dogelon Mars Price History
ELON hit the market on April 23, 2021, at $0.00000005 (hereafter written as $0.5e-7). The launch of this coin coincided with DOGE’s bull run. The ELON price started to move upwards, reaching $23.2e-7 on May 11, 2021, a whopping 4,540% increase. However, this price hike was short-lived. During the summer of 2021, the ELON price dropped and fluctuated between $0.5e-7 and $0.6e-7.
But on July 31, 2021, ELON started the day trading at $0.5e-7. After a few hours, the ELON price increased 65,000%, reaching $326.3e-7, its all-time high. Then, the price plummeted more than 99% to settle at $1.1e-7. Something similar happened the following day. The ELON price rose more than 20,000%, reaching $242.2e-7 and closing the day at $1.1e-7. In October 2021, the ELON price started to move upwards again, closing that month at $22.8e-7. This price hike represented a more than 4,000% increase within one month.
ELON began 2022 trading at $15.6e-7, a much higher price than it was for most of the summer of 2021. However, the crypto winter had just started, and the ELON price progressively decreased. Despite some short-lived price spikes, this coin was trading at around $10e-7 by the end of March. By the end of May, the ELON price halved, trading at approximately $5e-7. Since then, this coin’s price has been slowly dropping.
As of January 4, 2024, ELON traded at around $1.6e-7. According to CoinMarketCap, this coin is the 374th most valuable cryptocurrency by market capitalization.
Dogelon Mars Price Prediction for 2024
The following year, ELON will almost double its price. According to DigitalCoinPrice, ELON will trade at $6.8e-7 on average in 2024, possibly hitting $7.4e-7 at some point that year. PricePrediction forecasts an average price of $5.6e-7, with a possible maximum of $6.7e-7. In contrast, Cryptopolitan predicts an average ELON price of $8e-7 and a maximum of $9.1e-7 in 2024. Again, CryptoNewsZ has an overoptimistic prediction with an average price of $14e-7 and a maximum of $19.5e-7.
Dogelon Mars Price Prediction for 2025
Compared to the current price, ELON might nearly triple its value in 2025. PricePrediction forecasts an average ELON price of $8.2e-7 that year, whereas DigitalCoinPrice predicts $10.2e-7. For its part, Cryptopolitan is more optimistic and indicates an average price of $11.7e-7, with a maximum of $13.4e-7. CryptoNewZ is again much more confident by predicting an average ELON price of $19.1e-7 in 2025.
Dogelon Mars Technical Analysis
ELON price analysis indicates this coin has started an ascending trendline after hitting prices below the $2.5e-7 mark in October 2022. This fact might signal a bullish trend leading to the recovery of this coin. On the downside, Dogelon Mars does not have a white paper describing the potential applications of this cryptocurrency. Lacking a white paper could be interpreted as a red flag for investors. Moreover, there is no direct way to contact the development team behind this cryptocurrency.
However, ELON has been trading for more than a year without indications of this coin being a scam. In truth, the use of this cryptocurrency is reduced to keeping it in your wallet in hopes the price skyrockets at some point, as has happened with other meme coins.
Conclusion
Dogelon Mars is yet another cryptocurrency trying to replicate the success of Dogecoin. But unlike other meme coins that have hit the market, Dogelon Mars lacks a white paper explaining its development plan. Also, there are no founders listed for this coin.
These omissions do not mean Dogelon Mars is a scam, but they are details to consider before investing. According to most predictions, this cryptocurrency is at the beginning of an ascending trendline, representing an opportunity for profitable investments. However, be cautious if you choose to invest in this digital asset. You can purchase this coin on LetsExchange.io at competitive rates and without registration.
FAQ
Is Dogelon Mars a good investment?
It might be. According to price predictions, ELON is at the beginning of an ascending trendline. If price predictions are correct, you could get good returns if you invest now. Nevertheless, you should invest cautiously, only investing what you can afford to lose.
Will Dogelon Mars go up?
The ELON price will likely increase in the coming years. However, meme coins' popularity and market sentiment will ultimately determine whether the price goes up or down.
Should I invest in Dogelon Mars?
The answer to this question depends on your risk tolerance and investing strategy. Only you can decide whether this coin fits your investment portfolio.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.
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