Elon Overview

Founded: 2021

Key persons: “Elon Musk”

Capitalization: $782,385,466

Trading volume (24h): $334,791,661

CoinMarketCap rank: 117

Dogelon Mars (ELON) facts

• Included in Top 25 Social Engagement Meme Coins by cryptorank.io
• More than 230,000 followers on Twitter and more than 75,000 on Telegram
• Alternative version of Doge Coin (DOGE) — another meme token

Project objective: send Elon Musk to Mars! In fact, the project has no clearly defined goal. Owning a token is a way of expressing an interest in the industry.

Current trends and future plans.

From the technological point of view, the project is a copy of another meme coin — Doge Coin, and works in the Ethereum network. There is only one difference from the original version: larger number of tokens are in circulation. As part of the smart contract launch, 50% of the tokens were sent to Vitalik Buterin’s wallet, and 50% were put into the Uniswap exchange pool, where they can be purchased by anyone.

Despite the absence of practical application or innovative technology, the project has gained great popularity among users. The only advantages we could find is low token price and ease of purchase.

Meme coins provide users with a simple way to participate in the crypto market and an excellent opportunity to see how decentralized exchanges, token storage wallets, and trading mechanisms are organized in practice.

Despite the lack of serious ambitions, the project developers want to expand the ELON token functionality and add the possibility of using it as a governance token. As a result of the great interest in the coin, it is also planned to develop a mechanism that will fully interact with DeFi Protocols in the near future — including loans, deposits, as well as liquidity mining programs.