The Dogelon Mars fluctuated wildly in 2021, and some analysts predict it has much more potential to increase.
To what heights is Dogelon Mars capable?
How close to the Moon’s surface can you expect the value to go?
Dogelon Mars: What Is It?
Dogelon Mars was developed on the Ethereum network and used the ERC-20 token standard.
This means the token is secure, thanks to Ethereum’s blockchain.
Tokenomics is a key component of this feature. Vitalik Buterin, Ethereum’s developer, was given a whopping fifty percent of the coin’s genesis supply as a personal present. The other half was restricted to the Uniswap market liquidity.
On April 22, 2021, the token was included in a debut DEX offering (IDO).
Although no specifics have been released, the project’s stated goal is to establish “intergalactic money.”
Unfortunately, the initiative is currently accomplishing very little in terms of actual benefits.
Who Created the Dogelon Mars?
The Dogelon Mars project’s creators have remained unidentified up to this day. Dogelon Mars’s coding scheme is quite similar to that of Bitcoin’s.
Independent sources have not substantiated claims that a certain “Elon” by name is the project’s CEO.
Approximately what year did Dogelon Mars first air?
On April 23, 2021, Dogelon Mars was sent into orbit.
However, the website gives minimal background on the project’s beginnings; thus, it’s impossible to establish when it was initially launched.
What Is the Market Capitalization of Dogelon Mars?
With a market valuation of over $1 billion in October 2021, ELON is presently worth over $200 million, putting it in the top 150 of all cryptocurrencies.
However, while it has gained about 400% since October of 2021, it is still only worth around $0.0000003622.
There are presently about 550 trillion tokens in circulation compared to a maximum supply of 1 quadrillion tokens.
When Will Dogelon Mars Reach $0.01?
Many memecoins have set their sights on an improbable goal of reaching a price of $0.01, which would make its backers very wealthy.
In the case of Dogelon Mars, this is a remote possibility at most. A token price of $0.01 at this time would result in a market valuation of more than $5.5 trillion.
If all cryptocurrencies had the same market cap of $5.5 trillion, they would be five times as large as the current market. As more coins are produced and distributed, this becomes increasingly less practical.
Although many people would instantly become billionaires with an ELON price of $0.01, this is a very ambitious goal.
Since maximum supply exceeds demand, the desired price cannot be reached.
Dogelon Mars: Where to Buy It
Due to its youth, Dogelon Mars is not yet available on major consolidated trading platforms.
However, Dogelon Mars may be bought with the click of a button on Crypto.com. But you can also buy it on DEXs like Uniswap and Gate.io.
To start, you’ll need to acquire Ethereum using a cryptocurrency exchange or trading platforms like Coinbase, eToro, or Gemini.
An email address, password, and basic personal data are all needed to create an account. After getting your account validated and paid by ACH or credit transfer, you may buy ETH.
Next, transfer it to a wallet service (like MetaMask or Coinbase Wallet) for safekeeping. This wallet supports exchanging ETH for ELON once it is linked to a DEX.
Due to the high cost of reflections, you may need to set your slippage at 10%. ELON will be saved in your wallet when you complete the transfer.
The Dogelon Mars Supply
Dogelon Mars has a supply much like Shiba Inus. One quadrillion Dogelon Mars tokens were available upon launch.
Half of these tokens were really delivered to Vitalik Buterin’s wallet, from whence he subsequently donated them to charity. Unfortunately, they were permanently destroyed by fire.
Presently, there are 557 trillion Dogelon Mars tokens in circulation.
Before, we established that $5.57 trillion in market cap would be needed for Dogelon Mars to achieve $1 per token.
Memecoins: what are they?
Memecoins are digital currencies inspired by humorous online content. For example, dog-related memecoins like Dogecoin and Shiba Inu are among the most popular.
These tokens use humorous language in the hope of attracting buyers and driving up the price.
Memecoins are notoriously risky investments since they often have little practical use outside the cryptocurrency market.
Memecoins are very risky, so only invest what you can afford to lose.
Where will Dogecoin be in the next five years?
Changes in volume, price, market cycles, and comparable currencies are only some of the factors included in these forecasts.
For example, according to our long-term forecast, the value of one Dogecoin (DOGE) against the US dollar would rise to around $0.55 in 2026.
In five years, we anticipate a maximum cost of $0.58.
Is there a Bubble in Memecoins?
Many people think that the value of memecoins is in a bubble since some have recently risen by huge amounts in a matter of hours.
This may or may not be accurate, given that tokens often do not have sufficient use to justify their asking price.
However, people are worried that the token’s value may plummet due to a lack of demand.
However, the market caps of such tokens may be enormous. Nearly $100 billion has been invested in memecoins, expecting their value to only rise.
Communities have formed around several tokens, and their members have no intention of selling them.
Should I Invest in Dogelon Mars?
Dogelon Mars, as a long-term investment, is practically certain to lose value. The lack of functionality doesn’t justify the price tag, and development plans are exceedingly hazy.
On the other hand, plenty of alternative cryptocurrencies have practical features and reasonable goals.
However, the investment base is robust, which might lead to greater token inflation in the future. But this is all conjecture, and nobody knows what the token’s ultimate destination will be.
Dogelon Mars might be the coin you invest in if you’re ready to take a huge risk. Assume that the token’s value will never rise over $0.01 and plan accordingly.
Final Thoughts on Will Dogelon Mars Be Worth 1 Cent?
Therefore, it is uncertain whether or not Dogelon Mars will ever be worth one cent. However, the team must put more effort into developing and marketing the token to potential backers.
The confidence of potential investors in Dogelon Mars might be bolstered by its successful listing on platforms like Coinbase, Bybit, or Binance.
Just as the listing of Shiba Inu had a significant and beneficial impact on the coin’s value.
A LOT MORE DETAILS ABOUT DOGELON MARS
The investor base is largely responsible for the 1000% rise in ELON’s price.
Nearly 250,000 people have been reached through Twitter and Telegram as the initiative seeks further investors. Support for the coin comes from a large and dedicated community.
Despite the project’s assertions to the contrary, it seems that Dogecoin was not forked in this endeavor.
On the contrary, it functions significantly differently than DOGE and has a far greater maximum supply.
The project’s unknown creator also claims to go by the name Elon, although no one has been able to confirm this.
A claim of Elon Musk’s involvement in the token’s creation might be an attempt to entice additional backers. Even still, it’s doubtful that the real Elon Musk is involved.