Buy Dogelon Mars
Disclosure: eToro USA LLC ; Investments are subjugate to market risk, including the possible loss of chief .
Dogelon Mars ( ELON ) is a memecoin based on Dogecoin ( DOGE ) and Tesla CEO Elon Musk. The coin has seen enormous price swings in 2021, and some believe it has even more room for growth. How high can ELON actually go ? Will the monetary value soar to Mars as the diagnose suggests ?
What is Dogelon Mars?
Dogelon Mars is a project built on the Ethereum blockchain using the ERC-20 token standard. This means it uses the Ethereum blockchain for security but can besides create its own alone features within the token .
One of these features is its tokenomics. 50 % of the initial supply was gifted to Ethereum godhead, Vitalik Buterin. The other 50 % was locked into the Uniswap fluidity pool. The keepsake was listed on April 22, 2021 through an initial DEX offer ( IDO ) .
a lot of the 100,000 % ELON price increase can be attributed to the community of investors. The project uses Twitter and Telegram to reach an hearing of closely 250,000 and encourage more investors to buy. The community is identical potent and offers hardworking back for the keepsake .
The project claims to be a branching of Dogecoin, though there is identical little evidence to support this title. It has a a lot higher maximal provision and operates very differently than DOGE .
The founder of the project besides claims to be named Elon, though the founder is anonymous and no one can verify this information. They may be hoping to attract more investors by suggesting that Elon Musk is behind the token. however, it is highly unlikely that the actual Elon Musk has anything to do with the project .
Dogelon Mars Market Capitalization
In October 2021, ELON ’ s market capitalization surpassed $ 1 billion, however, it presently sits at around $ 450 million, ranking in the top 150 cryptocurrencies in terms of commercialize ceiling. It is presently trading at around $ 0.0000008081, though it rose about 4,000 % in October alone .
The mint presently has a provide of over 550 trillion tokens in circulation, with 1 quadrillion soap supply .
Can Dogelon Mars Hit $0.01?
many memecoins are hoping to beat the odds and reach a price target of $ 0.01, making investors rich. however, this is highly improbable in the font of Dogelon Mars. If the token were to reach $ 0.01 good nowadays, the market cap would be over $ 5.5 trillion. A market cap of $ 5.5 trillion would be approximately 5 times the size of Bitcoin and nearly double the entire crypto market. This becomes tied less feasible as more coins are out into circulation .
While a $ 0.01 ELON would make many millionaires, this price target is about impossible to reach. The soap issue is simply besides high to support the monetary value aim .
How to Buy Dogelon Mars
Dogelon Mars is a relatively new plan, and it ’ s not listed on many centralized exchanges. The easiest way to purchase Dogelon Mars is on Crypto.com. however, it ’ second besides available on decentralize exchanges ( DEX ) such as Uniswap and Gate.io .
The first gear step to buying ELON is to purchase Ethereum on a crypto brokerage such as Coinbase, eToro or Gemini. Opening an explanation alone requires an e-mail and password and some personal information. once your account is verified and funded through an ACH or credit remove, you can purchase ETH. From there, send it to a wallet, such as MetaMask or Coinbase Wallet. once you connect this wallet to the DEX, you can swap your ETH for ELON. You may have to set your slippage to 10 % due to high reflection fees. After you execute the barter, your ELON will be stored in your wallet .
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What are Memecoins?
Memecoins are tokens based on internet memes or sarcasm. The largest memecoins are often based around dogs, such as Dogecoin and Shiba Inu. These tokens use sarcasm in order to attract investors and pump the price .
many memecoins can be extremely fickle as they much do not offer any uses outside of an investment. Memecoins are some of the most volatile investments of all time, and investors should only invest money they are bequeath to lose into these assets .
Are Memecoins a Bubble?
With several memecoins appreciating by enormous amounts in the couple of hours, many believe the tokens are in a bubble. This very well may be true as the tokens much do not support uses to back up the price. many believe that this lack of uses will cause the tokens to dramatically decrease, causing the bubble to burst .
however, these tokens can have huge market caps. There ’ sulfur close to $ 100 billion invested in memecoins and many believe that the prices will continue to increase. many tokens besides have potent communities that do not plan on selling their holdings.
Is Dogelon Mars a Good Investment?
For a long-run investment, Dogelon Mars will about surely depreciate. There are no features that can back up the price and future plans are extremely obscure. There are many other cryptocurrencies with useable features and accomplishable plans .
however, the community of investors is very solid and may pump the keepsake further in the future. This is all guess though, and no one knows where the keepsake will go. If you are uncoerced to make a identical hazardous investing, Dogelon Mars may be the token for you. Do not expect the token to reach $ 0.01 anytime soon, as this is basically impossible .
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