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Dogelon Mars Crypto Prices Surge 80% as ELON Token Joins Meme Frenzy

InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Dogelon Musk crypto is the newest pupcoin player investors should be taking note of, especially after its sizable gains...

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This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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The pupcoin race is getting larger in scope by the week, with new coins building fast and frenzied fanbases and shouldering their ways to the front of the pack at breakneck speeds. As canine-themed cryptos continue to prove their successes, new challengers are bidding for success. One of the newer tokens, and certainly one of the highest-surging in recent days, is Dogelon Mars (CCC:ELON-USD). The space-themed canine crypto capitalizes on the pupcoin bulls’ fascination with SpaceX magnate Elon Musk, and recent gains are proving it to be a worthy effort. The Dogelon Mars crypto is one of the biggest gainers of the day.

A close-up shot of a Shiba Inu with a grinning face.
Source: Wollertz / Shutterstock

Dogecoin’s (CCC:DOGE-USD) surge in the springtime ultimately caused a permanent relationship between Elon Musk and the pupcoin community. The Twitter savant and space-exploration boundary-pusher is a big DOGE bull. In fact, Dogecoin devs announced this year that they had long been working with Musk on bringing improvements to the Dogecoin network. Along its way up to a 73-cent all-time high, Musk naturally spurred bullish attitudes by using memes to keep interest in the coin.

Of course, bearing its Shiba Inu logo, Musk also took a fascination with the dog breed. This, in turn, is giving fodder to developers looking to capitalize on Musk’s crypto-pumping skills. First, Shiba Inu (CCC:SHIB-USD) garnered a vast following by capitalizing on Musk’s tweets mentioning the breed. When Musk adopted a Shiba Inu and named it Floki, the way was paved for the recently successful Floki Inu (CCC:FLOKI-USD). Just about any mention of the dog by Musk is bound to see a crypto created in his honor, and they all are seeing great success in terms of growth.

Dogelon Mars Crypto Bridges Musk Connection and Pupcoin Trend and Soars 80%

The Dogelon Mars crypto is not a new one, popping up in late April as Dogecoin saw peak highs. However, it recently has capitalized on the multi-hundred-percent gains between SHIB and FLOKI.

Dogelon Mars is a deflationary token just like many of its peers. Its total supply of one quadrillion ELON is a permanently shrinking one, with the network burning tokens with each passing transaction. Additionally, 500 trillion of the tokens are stored in a wallet belonging to Ethereum (CCC:ETH-USD) co-founder Vitalik Buterin. This follows in the footsteps of predecessors like SHIB, who also gifted Buterin 500 trillion tokens.

ELON’s success comes thanks in large part to the recent trend in pupcoins. Nearly every day for the past month, Twitter users have seen a different pupcoin trending on the platform. And each time one of these cryptos trends, it sees an upswing in value or in trading volume. This morning, the Dogelon Mars token is the lucky trending cryptocurrency, with bulls tweeting over 65,000 posts about the token.

Indeed, the trending moment is working wonders for the crypto, who is already trending upward this week before getting this spotlight. ELON is capping off a week of 30% gains with an extremely fruitful morning; the token is up 80%, with transaction volume doubling on its average. Over $422 million in ELON tokens are swapping hands today, a huge amount considering its fraction-of-a-cent value.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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The post Dogelon Mars Crypto Prices Surge 80% as ELON Token Joins Meme Frenzy appeared first on InvestorPlace.