• Dogelon Mars (ELON) Breaks into the Top 100 as Meme Coins Gain Popularity

  • Dogelon Mars has risen to #98 on the list of the top 100 cryptocurrencies by market capitalization at the time of writing. Dogelon Mars (ELONmarket )’s cap and token value have increased by +56.72 percent in the last 48 hours, with a market capitalization of over $1 billion at the time of writing.

    As a result of the market’s performance, investors are celebrating, but community members and pundits are skeptical. At best, they complain about the entry of another meme into the top 100, and at worst, they claim that the project is a scam because many people have reported being unable to sell their tokens.

    Furthermore, Dogelon Mars’ meteoric rise has resulted in the token outperforming Ontology (ONT) and other legitimate projects with stronger fundamentals. ELON’s recent success can be attributed to a larger “meme coin” bull run influenced by the rapid growth of tokens such as Dogecoin (DOGE).

    A meme coin is a colloquial term for cryptographic currency tokens that are distinguished by their identity, branding, and project fundamentals (or lack thereof). Dogecoin (DOGE) and Shiba Inu (SHIB) have been two of the most popular meme coins, and their popularity has skyrocketed in recent weeks. Most of the time, they are thought to have little-to-no significant value beyond the hype that surrounds them.

    So far, you may have noticed a recurring naming convention among these’meme coins.’ Dogecoin is named after the ‘doge’ internet meme, which became popular in 2013. The ‘doge’ meme, in all of its variations, depicts a dog of the ‘Shiba Inu’ breed (the namesake of SHIB).

    What Exactly Is Dogelon Mars?

    Dogelon Mars and its success were also inspired by Dogecoin. Furthermore, Dogelon Mars follows this trend, with the first word in its name being a portmanteau of the ‘doge’ meme and Elon Musk’s first name, and the second word ‘Mars’ being a clear reference to the eponymous billionaire’s interstellar business pursuits (SpaceX) and status as a space enthusiast and exploration proponent. Elon Musk has no official affiliation with this project.

    A quick glance at the Dogelon website reveals that its project marketing, including on-site copy, closely resembles the traditional expectations of a’meme coin.’ While it does include important and arguably necessary information such as tokenomics and metrics, it shares screen space with a comic book and the project’s ‘about’ section, which makes no attempt to appear serious.

    The following is an excerpt from the website’s “about” page:

    “In the year 2420, a young Dogelon Mars was born onto Mars’ beautiful red sands, where he would live peacefully with his family.” They worked tirelessly to transform their expanding colony into a technological powerhouse that would benefit all life throughout the galaxy. This progression continued until the dreaded arrival of the Annihilators, who would chase young Dogelon Mars backwards through time and space, where he would seek refuge on Earth and embark on a new journey…

    “My name is Dogelon. Mars, Dogelon Join me, and we’ll reach for the stars.”

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