Dogelon Mars price prediction: What is Dogelon Mars (ELON)?

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Can the meme coin regain its previous heights? It may need to find a role first…

Dogelon Mars cartoon image with a suited dog in front of the planet Mars                                 
Can Dogelon Mars become one of the top dog coins? – Photo: dogelonmars.com
                                

Contents

Dogelon Mars is one of many meme coins to have hit the market since DOGE enjoyed a substantial bull run in early 2021.

So what is Dogelon Mars (ELON)? What is the Dogelon Mars price prediction? Let’s take a look. 

Dogelon Mars explained

After the success of Dogecoin, the crypto that started off as a joke and ended up becoming a major player among cryptocurrency investors, there was a growth in meme coins – cryptos which were often based on the Shiba Inu dog breed, and that seemingly had little use.

We have seen tokens such as SHIB and FLOKI get their own followers, but they are not the only ones. Dogelon Mars, named in tribute to Tesla founder and DOGE devotee Elon Musk, is one such coin. 

One possibly worrying aspect of Dogelon Mars is that it does not have a whitepaper. This is fairly uncommon and, in truth, should be seen as something of a red flag for potential investors.

While ELON has been trading for almost a year now, meaning that there will have been many opportunities for rug pulls, it is still somewhat disconcerting to see a lack of official explanation as to what the coin does and what it can be used for. There is no straightforward way to contact Dogelon Mars or the people behind it.

No road map for ELON

In addition, ELON does not have a road map. There are no publicly available indicators of different points of development that the token and the people behind it want to reach. Instead, visitors to the Dogelon Mars website will see a series of web comics illustrating the adventures of the titular dog as he aims to make his way in the universe. 

In truth, there are not many uses at the moment for ELON, other than keeping it in your wallet and watching it, hopefully, grow, and buying, selling and exchanging the token. Compared with other dog coins, which do have some retail use and staking ability, Dogelon Mars is not the most practical cryptocurrency.

One would have to hope that there will be some utility at some stage. If and when that happens, that will have an impact not only on the price of ELON, but also on the Dogelon Mars price prediction.

The token is based on the Ethereum blockchain. There are no founders listed. While this is not uncommon, this too may cause some concern to potential investors who would like to know who came up with the token.

When ELON was founded, half of the one quadrillion supply was given to Ethereum founder Vitalik Buterin, who then donated the tokens to charity. The rest went into a liquidity pool.

Dogelon Mars price history

The Dogelon Mars price history is no indicator of future results, but knowing what the coin has done in the past can give some context for an ELON price prediction. 

ELON first came onto the open market in April 2021, when cryptocurrencies and, especially, DOGE were on a bull run. It traded at $0.00000005 at the end of 23 April and started to slowly move upwards. Oddly, when Elon Musk appeared on Saturday Night Live on 8 May and ended up describing Dogecoin as a “hustle,” this did not have a negative impact on Dogelon Mars, which instead shot up to hit a periodic high of $0.00000232 on 11 May 2021.

The coin then settled back down and, when the great crypto day crash of 19 May 2021 happened, ELON followed suit. It spent much of the summer at a much lower mark, hovering around $0.00000005 and $0.00000006, with one exception. On 31 July 2021, it started the day at $0.00000005 before rocketing up more than 65,000% to hit an all-time high of $0.00003263, and then plummeting back down by more than 99% to $0.00000011.

The next day saw a similar story, as the coin rose more than 20,000% to hit an intraday high of $0.00002422, before losing that value to close at $0.00000011.

Dogelon Mars price history
Dogelon Mars price history – Credit: Currency.com

ELON then spent most of the next couple of months where it had been over the summer. By the start of October 2021, it was trading at $0.00000005201 and it closed that month at $0.000002279, a rise of more than 4,000%. The token then slowly started to go into decline, and it closed November 2021 at $0.00000164.

December 2021 was a bad month for crypto in general but ELON was shielded from the worst, closing the year at $0.000001566. That was down from where it had been at the end of November, but well within touch of recent prices – and considerably higher than it had been for most of the summer.

January 2022 saw peaks and troughs, and while it closed the month at $0.0000008736, there was something of a rally in the first half of February, and on 16 February, it was standing at around $0.00000099. But it slumped again after that, reaching $0.0000008316 on 23 February 2022, before market turmoil surrounding Russia’s invasion of Ukraine led to it an intraday low of $0.0000006318.

ELON closed the month following a recovery to $0.0000008348. But March saw it fall back and on 8 March it was trading at roughly $0.00000072. Later on in the month, though, it performed well, dropping a zero to hit a high of $0.000001264 on 28 March before it settled down, and by 31 March 2022 it was trading at around $0.000001.

In April, though, it went on a downward turn, not helped by China’s ban on crypto, and on 19 April it was worth around $0.00000078. There was then some slow recovery and by 6 May, ELON was worth around $0.0000008. Things then went south once more when the market experienced a crisis triggered by the depegging of the TerraUSD stablecoin and its associated LUNA crypto and, on 12 May 2022, it fell to an intraday low of $0.0000003709 before it started on a recovery of sorts to stand at around $0.00000051.

There were some peaks and troughs after this, but with the cancellation of withdrawals on the Celsius platform, the market was confirmed to be a bear one and it fell to a low of $0.0000002301 on 18 June. After that, there was something of a slow comeback, with the token trading at about $0.000000335 on 18 July 2022. 

At that time, there were a little over 552.6 trillion ELON in circulation, out of a total supply of one quadrillion. This gave it a market cap of around $185.2m, making it the 143rd largest cryptocurrency by that metric, according to CoinMarketCap.

Dogelon Mars price forecast

Before looking at Dogelon Mars price predictions, it must be emphasised that long-term crypto price predictions are often wrong, and are often made using an algorithm, which means they can change at any moment.

That said, Cryptopolitan has a Dogelon Mars price prediction for 2022 which says it could reach an average of $0.0000006 at the end of this year, before hitting around $0.00000089 in December 2023 and $0.00000133 in the year after that. The token could reach around $0.00000195 in 2025, the site predicts, before reaching an average of $0.00000288 in 2026. In 2030, Dogelon Mars will get to $0.00001362, it predicts.

CryptoNewsZ suggests the coin can reach $0.00000121 at some point in 2022. The site’s ELON price prediction for 2023 is an average of $0.00000133, while in 2024 the average price could be somewhere around $0.0000014. Dogelon Mars could close 2025 at about $0.0000032, whereas in 2026, it could be potentially drop to $0.00000151, CryptoNewsZ says. In 2030, it thinks the average price of the token could stand at $0.00000427.

PricePrediction.net has a Dogelon Mars coin price prediction that says it could reach an average of $0.0000006 in 2022, $0.00000089 in 2023, $0.00000133 in 2024 and $0.00000195 in 2025 before it rises to $0.00000288 in 2026. In 2027, the price of ELON could stand at around $0.00000435, the site suggests, while in 2028 it could be worth $0.00000651.

The token could then end the decade at $0.00000955. The site makes a Dogelon Mars price prediction for 2030 that sees it hit an average of $0.00001362 before it reaches around $0.00002037 in 2031.

Finally, DigitalCoinPrice is still upbeat, but rather more cautious than other forecasts. It suggests that ELON will trade at around $0.00000044 in 2022 before moving up to $0.000000482 in 2023 and $0.000000529 in 2024. The site has a Dogelon Mars price prediction for 2025 that sees the rise continue to $0.00000065 before the market contracts and it falls to $0.000000623 in 2026.

In 2027, the coin should be on a bull run and reach $0.000000826, with the growth continuing to $0.00000107 in 2028 and $0.00000138 in 2029. The token should then start the next decade trading at about $0.00000153, while it should hit $0.00000173 in 2031.

Final thoughts

As has already been pointed out, there is neither a proper whitepaper for Dogelon Mars, nor a road map of what the coin actually wants to do. There are plenty of dog coins on the market, and most of them have a stated plan and whitepaper. This is not to say that ELON is a scam, but it is something to take note of.

There are also no founders listed for the coin. Again, this is not entirely uncommon, but it does mean that an investor who seeks transparency and reassurance when it comes to their cryptos may well decide to take their money elsewhere.

Thirdly, the coin operates in very small fractions of a cent. This is pretty much par for the course when it comes to meme coins, and it does mean the coin can go on a massive bull run and still not be worth too much – but, on the other hand, this may well put potential investors off.

MotleyFool’s Sean Williams listed ELON as one of his four coins to avoid like the plague in 2022, though it should be pointed out that he has a low opinion of dog coins in particular. Even so, you will still need to do your own research and be very careful before investing in Dogelon Mars.

FAQs

As of 18 July 2022, there were a little more than 552.6 trillion ELON in circulation, out of a total supply of one quadrillion

The token does have some pretty upbeat forecasts, but forecasts are often wrong. The lack of a whitepaper or a clear road map may serve as red flags for some potential investors.

Remember, too, that cryptocurrencies are highly volatile – you should do your own research and never invest more money than you can afford to lose.

It may do: there is certainly a gap between where it is now, and where it has been in the recent past.

However, there is nothing to say that ELON may not stagnate or collapse at some point in the future. Always remember that prices can go down as well as up.

You will have to answer this question for yourself. You will need to do your own research, remember that prices can go down as well as up, and never invest more money than you can afford to lose.

Further reading

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