Just hear about the Dogelon coin yesterday; I bought $50 worth of Dogelon or Elon coin, and guess what! Price is going up like crazy, and my $50 equity turned into $75 within just eight hours. Now I am pretty sad why I didn't stake more. LOL!
Dogelon Mars just gained a 141%+ rise in the price within 24 hours. 13110 people already added this coin to their watchlist.
If you check the coin stat on Etherscan, you will be surprised by seeing how many people are adopting and trading this coin every minute. At the moment of writing total holders of this coin were 17,737, including me. As ELON coin isn't in the Binance chain yet, it's on the Ethereum network, so the GAS fee is relatively high.
There's no whitepaper, and check how their token works. They followed the path of the Shiba Inu coin. They immediately burned 50% of the tokens to Vitalik Buterin to ensure fair distribution. And they locked the other half in the Uniswap liquidity pool. So, you can get ELON coin from uniswap. Though Poloniex just listed the coin and I bought from there.
Now, the question is, is it a meme coin like Shib, Doge, or Akita Inu? According to the website, they deny it. It's an actual project!
Think of Dogelon as an acceptable universal currency for the people. Everywhere. It is not a meme currency like Doge, Shiba, or Cardano. This is an actual project that will be constantly evolving. And that begins with undoing the damage done by scammers, schemers, and bad actors. You may have some questions. - Dogelon
But the funny thing is I can't just ignore the fact that Dogelon Mars is a meme coin. Have a look at the name - it has Doge, Elon, and Mars. That's enough meme just in the name of the coin. And I don't know who's behind this project. But when I checked the FAQ of the project website, I saw -
Q - Are you really Elon?
A - Yes, my name is Elon.
So, for me, this is obviously a meme coin. And meme makes money as you saw the mighty Dogecoin!
When it comes to investment on any token, please do your own research. And only invest the amount you OK with losing because the cryptocurrency market is very volatile. Honestly, you never know what's going to happen tomorrow. You can either earn 100 bucks in the next few days, or you can lose 100 dollars within few hours.
This is not a piece of investment advice, but I believe there's a big chance that this can go to the moon or beyond. But it's risky because of their meme name. Though they look very active on Twitter, and their telegram has been blowing up.
There's a potential to make money. But you definitely have to be alert on your phone or computer all time so that you could get out of the play at the right time. It's a pump and dump coin, so make sure you're on the right side while trading.