$ELON Surges 37% As Two Major Exchanges Welcome Dogecoin Competitor ‘Dogelon Mars’
Two major crypto exchanges have listed highly popular dog meme cryptocurrency Dogelon Mars ($ELON), helping the price of this Ethereum-powered token to surge over 37% in the past 24-hour period.
What is $ELON?
Here is the backstory for Dogelon Mars:
“In the year 2420 a young Dogelon Mars was born onto the beautiful red sands of Mars where he would live peacefully alongside his family. Together they worked hard to develop their expanding colony into a hub of technology that would bring prosperity to all life across the galaxy. This development continued until the dreaded arrival of the Annihilators who would chase young Dogelon Mars backwards through time and space where he would find refuge on planet Earth and begin a new journey.
“Dogelon knew that in order to assist in the technological evolution of mankind, he would first need to establish an intergalactic currency, one that could be used by all peoples and civilizations and that could integrate with the space age technology of the coming era. Then, with the friends he’s made along the way, he would seek to recolonize Mars to transform it into the hub of prosperity that it was always meant to be. As his journey across the universe was set to begin he would leave the people of Earth with a final transmission: I am Dogelon. Dogelon Mars. Join me and together we will reach the stars.“
According to the Dogelon team, 50% of the $ELON token supply was “donated to Vitalik Buterin as a gesture of peace who then later gifted his tokens to charity” and the other 50% was “permanently locked in the Uniswap liquidity pool.”
Support for Dogelon Mars From Major Exchanges
Until this week, $ELON was listed on the following three centralized crypto exchanges: Crypto.com, KuCoin, and Gate.io. Of course, since $ELON is an ERC-20 token, it was also available for trading on Ethereum-powered decentralized exchanges Uniswap (V2) and Quickswap.
On Tuesday (December 21), Winklevoss-owned crypto exchange Gemini announced support for $ELON:
Here is how a blog post by Gemini described $ELON:
“ELON is an ERC-20 utility token compliant with the Ethereum network. Dogelon Mars is a doge-themed token project that aims to replicate the success of Dogecoin (DOGE) while piggybacking on Elon Musk’s plans to colonize Mars. The founders of Dogelon Mars locked 50% of all the ELON liquidity in a Uniswap liquidity pool. The other half was donated to a wallet owned by Vitalik Buterin, the founder of Ethereum.
“Vitalik then sent the donated ELON to various DAOs and foundations, including the Methuselah Foundation, a non-profit medical charity focused on extending the healthy human lifespan. Since the founding team did not allocate any ELON to themselves, every token holder today either purchased the asset on a decentralized exchange (DEX) or received them as a donation from Vitalik Buterin.“
Then, on Wednesday (December 22), crypto exchange Huobi Global asked its users via a Twitter poll which of the three cryptoassets they wanted to see listed for Christmas and $ELON got the majority of the 748,011 votes.
The next day, Huobi Global announced that it had listed $ELON:
In a post published on its website, Huobi Global said that $ELON was scheduled to be listed in the Pioneer Zone on December 23.
$ELON’s Price Action
According to data by TradingView, on crypto exchange Gemini, at 2:00 p.m. UTC on December 21, $ELON was trading around $0.000001108. Currently (as of 8:56 a.m. UTC on December 24), $ELON is trading around $0.000001797, up 37% in the past 24-hour period.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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