Photo from @dogelonmars on Twitter
The future is here, and innovators are way ahead in preparation for multi-planetary interactions. As a result, they have created a new interplanetary currency—Dogelon Mars to facilitate transactions like interplanetary flights. According to the website, the backstory reads, “In the year 2420, a young Dogelon Mars happily lived beneath the roof of his family home on Mars with his family. However, it wasn’t long before a galactic threat would force the young pup to be sent backward through time and space where eventually he would arrive on planet Earth where he would mark the beginning of a fantastic journey.”
Dogelon Mars ($ELON) is an ERC20 cryptocurrency based on the Ethereum blockchain. The cryptocurrency token derives its name from the combination of meme-based coin Doge, the eponymous billionaire Elon Musk and his interplanetary exploration to Mars. However, unlike its predecessors, Dogelon Mars is not a meme-coin but rather an innovative experiment that is gaining prominence and could pave the way for developing a new type of currency.
Asides from being an interplanetary currency, the anonymous creator behind the innovative coin stated that “the Dogelon Mars community also wants to help victims of crypto scams and rug pulls by airdropping ELON Dogelon tokens; to them.” To this effect, “1 quadrillion ELON tokens were created, and 50 percent were sent to Vitalik Buterin, co-founder of Ethereum. The other half was permanently locked in the Uniswap liquidity pool, according to the official website.
Although relatively new in the cryptocurrency space, Dogelon Mars’s value has skyrocketed above its predecessors Shiba Inu and Doge since first hitting the market on May 13 at $0.00000005. At this time, the altcoin has gained value by a whopping 3,780% and is now valued at 0.000000233 per unit. The massive upward movement drove Dogelon Mars’ market capitalization from around $ 26 million on October 1 to a high of $ 1.19 billion on October 30.
The majority of Dogelon Mars October gains came from significant development when the token was listed on OKEx and Crypto.com on October 29. The digital asset is now ranked as the fifth-largest meme-based crypto asset, per Coingecko’s “Top Meme Tokens by Market Cap” list. The altcoin has also been listed in the cryptocurrency top 100, displacing other prominent coins.
The new cryptocurrency is known for its extreme volatility in the last 30 days, making it an ideal coin for speculators and traders. It can be purchased using ELON, a DEX (decentralized exchange), Poloniex, Ox Protocol and Uniswap. With a total supply of one quadrillion ELON, Dogelon works on a liquidity pool model. 50% were sent to the wallet of Ethereum founder Vitalik Buterin. The other 50% are in an inaccessible liquidity pool, and to ensure fairness and develop a trustworthy, community-based coin, there was no Dogelon presale; no developers or early investors got tokens before the public had access.