A cryptocurrency named after Elon Musk caught all the attention with a 3,780% gain in October.
According to CoinGecko data, Dogelon Mars went up from $0.00000005 on October 1 to $0.00000229, which it traded on November 1st. On October 29 and 30, the Crypto.com app and OKEX made a 200% jump when they listed the coin for trading. The increase took the ethereum-based coin’s market value from $26 million to $1.19 billion in one month, making it the 92nd largest cryptocurrency in the world by market capitalization. TO
Along with other meme coins like kim, shiba inu, and dogecoin, it’s been a solid month for other cryptocurrencies that have made gains – Bitcoin and ethereum also hit record highs in October.
The Shiba inu in particular has seen impressive gains. Like Dogelon Mars, the “dogecoin killer” was started as a joke, but now has a serious market cap of around $38.5 billion.
Thanks to Reddit’s Wall Street Bets and social media conversations, the meme-coin wave picked up momentum and Dogelon Mars kept that enthusiasm going.
DogelonMars Twitter account shares memes and updates as the coin continues to rise and #dogelonmars trending on Twitter on Sunday. According to DogelonMars.com, the developers aim for the currency to be the first interplanetary currency. The website in question contains a fictional story about the coin’s launch, adding additional flair to its meme-coin status.
After hitting a high of $0.00000233 on Saturday, Dogelon Mars saw an almost 30% price correction forming a bull flag, a move suggesting a bull run might be on the horizon.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.