What is DogeLon Mars (ELON)? It is said to be the virtual currency of Tesla’s Elon Musk, and we will thoroughly explain its features and future prospects. We will also explain the advantages and disadvantages, so please refer to it. DogeLon Mars (ELON) is a token derived from the virtual currency Dogecoin, so it has a fair amount of name recognition. Therefore, it can be said that it is a coin that will attract attention in the future.
What is Doge Ron Mars (ELON)? About the features
The cryptocurrency Dogeron Mars (ELON) is a virtual currency that was created in 2021 by a fork of Dogecoin, the forerunner of dog-based meme coins. This coin is rumored to be used for Mars projects. It is attracting attention from many investors because it uses the name of Tesla CEO Elon Musk, who is famous for electric cars. Due to the dog meme coin boom, the price has increased significantly in recent months. The founder of Dogelon Mars (ELON) is unknown.
Born from a fork of Dogecoin (DOGE)
Dogelon Mars is a virtual currency that was created in April 2021 by the fork (split) of Dogecoin. Dogecoin was the first meme coin created, and it has a history of greatly increasing its price after Elon Musk’s comments, so Dogelon Mars (ELON) was born on that trend. It seems that it was issued for the purpose of exchanging money between planets after humans migrated to Mars.
no use case
There is no particular use for this. There is no particular use case for Dogecoin (DOGE) or Shiba Inu Coin (SHIB), their only role is as a held asset. However, these coins have skyrocketed in value and are well known, so there is a good chance that the price of Dogelon Mars will similarly increase in the future.
Adopts burn system
It is also known as one of its major features that it uses a unique burn system. Burning means reducing the amount of virtual currency in circulation for the purpose of increasing the value of a stock or stabilizing its price. In the case of Dogelon Mars, the burn is carried out by sending half of the total issuance of Dogelon Mars to Uniswap, a major DEX, and the other half to the Ethereum developer.
ERC20 standard token
ELON is an ERC20 standard token that is compatible with the Ethereum blockchain. The Ethereum blockchain has a function called smart contract that automatically executes contracts. Dogelon Mars (ELON) does not currently implement smart contract functionality, but plans are underway to implement this functionality in a tool in the future. There have been no cases of remittance fraud, and expectations are high for the product.
Meme coin set in space
Dogecoin is said to be the coin used for the Mars project. This is because Dogecoin was used by Elon Musk to raise funds for his Mars project. Therefore, it is rumored that this coin has a similar purpose. It is popular among certain groups. Elon Musk’s presence has caused a lot of buzz on social media and in the market. Since it is generally cheap, you may be able to hold it and sell it when it becomes more expensive.
Future outlook and prospects
What will the future hold for Dojilon Mars (ELON)? We will also introduce its price movements so far, so please consider whether to invest in it. Will it become like BTC or NFT? Recently, important development platforms and communities have been launched, and it is now possible to find out about content such as how to invest. Let’s analyze and consider whether we should invest in Musk’s coin. It may become a major coin.
Current price movement and charts
Below is the monthly chart of coinmarketcap. Dogelon Mars is a relatively young brand that was born in April 2021. Dogelon Mars has spiked its price twice since the April fork, but it has stabilized and has since fallen. When Elon Musk announced that he was using Dogecoin to raise funds for SpaceX, the American space development company he founded, to explore the moon, the price skyrocketed. Since then, prices have stabilized from the peak.
Source : https://coinmarketcap.com/
New listing on an exchange
This coin is listed on the world’s major cryptocurrency exchanges such as Bybit, MEXC, and Gate.io, and is already available for trading. On the other hand, Japan’s Coincheck, GMO, bitflyer, etc. do not carry it, so many people may not know about it. There is a possibility that the price will continue to rise in the future when it is listed on a major virtual currency exchange.
Expectations for Meme Coin
Although there is no use case for meme coins, there are dozens of types that can actually be traded, and the number is increasing rapidly. The market is expected to continue to expand in the future. The market price of meme coins is actually expanding rapidly, so there is a possibility that the value will increase by taking advantage of this.
It depends on the progress of space business.
Dogelon Mars has “Mars” which stands for Mars, and it is named after Elon Musk, who founded the space development company “SpaceX”, who plans to migrate to Mars in the future. If humans were to migrate to Mars in the near future, the value of this coin could skyrocket.
Can we break away from Neta currency?
It is just a netacoin and the price is unlikely to be stable. However, there is no sign that the price will fall any further, so it is better to buy when the price has dropped to the bottom. Various dog meme coins are causing wild fluctuations in price, so please be careful of high volatility and high liquidity.
Recommended virtual currency exchanges where you can purchase ELON
Finally, I will introduce virtual currency exchanges where you can actually purchase this virtual currency. We have compiled the information for your reference. We have selected recommended exchanges that cover Bitcoin, altcoins (Ethereum (ETH), Tether, etc. (USDT), Ripple (XRP)), and where you can invest in a large number of coins. It is an exchange where you can trade using an app or a computer. Each has its advantages and disadvantages, but there is no risk and you can make a large profit by making payments. It is safe because a loss cut is adopted when the amount of loss exceeds a certain amount.
Bybit
Bybit is a cryptocurrency exchange established in Singapore. However, it later moved its base to Dubai and is a virtual currency exchange that is expanding globally. The leverage is quite high at 100 times, and the number of coins handled is over 300, so it is quite fulfilling. Overall, there are plenty of big campaigns and bonus services, which is a plus.
| Exchange | Bybit |
| Location | UAE |
| Coin | 300～ |
| Leverage | 100x |
| Commission | Maker：0.1% Taker：0.1% |
| URL | Home |
MEXC Global
MEXC Global is a virtual currency exchange established in Singapore, Asia. The main users are Japanese, but it is spread all over the world and millions of users transact every day. It handles over 1500 virtual currencies, and you can also speculate on unknown coins, so it is recommended. The maximum leverage is 200x. News also provides information on coins that are attracting attention.
| Exchange | MEXC Global |
| Location | Singapore |
| Coin | 1500～ |
| Leverage | 200x |
| Commission | Maker：0.010% Taker：0.050% |
| URL | Home |
Gate.io
Gate.io is a virtual currency exchange established in China and may have a suspicious image, but it is currently based in the Cayman Islands and is very safe. It handles the largest number of coins in the world, with over 1,700 issues, making it the most recommended exchange for those who want to speculate. We also communicate through the media when new listed coins are released.
| Exchange | Gate.io |
| Location | Cayman Island |
| Coin | 1700～ |
| Leverage | 125x |
| Commission | Maker：0.15~0.2％ Taker：0.15~0.2％ |
| URL | Home |
KuCoin
KuCoin is a virtual currency exchange established in Hong Kong, but has now moved to the Seychelles Islands. We have successfully expanded globally as a virtual currency exchange that is traded by 8 million people around the world. You can invest in over 700 virtual currencies. The operation is thorough in verifying the identity of the user, and funds can be deposited at a financial institution and international remittances can be made to the wallet.
| Exchange | KuCoin |
| Location | seychelles |
| Coin | 700～ |
| Leverage | 100x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
BitGet
BitGet is a cryptocurrency exchange established in Singapore. Currently, there are millions of users around the world, and it is popular because it has very solid security. The latest copy trading has been introduced in the industry, and it is very famous and has a large number of registered and participating users. The amount of money will increase because you imitate the buying and selling details of experienced traders, both short-term and long-term. You can increase it starting from a small amount.
| Exchange | Bitget |
| Location | Singapore |
| Coin | 700～ |
| Leverage | 125x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
Points to note when trading virtual currency
One thing to keep in mind when trading virtual currencies is that taxes are payable when profits are determined, not losses. Please be aware that if you make a similar profit on overseas virtual currency exchanges, you will be required to file a tax return in the future. Downloading transaction history is also popular and quite convenient, and the technology and functions have progressed considerably. If you are buying in cash, be sure to check as there is a possibility that the prices of the stocks you are holding have soared without you knowing. Please also check the terms of use online.
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