Elon Musk-Named Meme Token Dogelon Mars Gains Over 4000 Percent in October to Reach All-Time High, Will It Beat Shiba Inu?

By Benzinga
Benzinga
Benzinga
November 1, 2021 Updated: November 1, 2021

The cryptocurrency token Dogelon Mars (ELON) reached an all-time high of $0.00000259 on Saturday. Gaining over 4000 percent after opening the month of October at $0.00000005.

The so-called meme cryptocurrency is named after Tesla Inc. CEO Elon Musk.

According to the creator of ELON, it is a project that will constantly be evolving. Dogelon is an ERC20 cryptocurrency built on the Ethereum blockchain.

In terms of market capitalization, Dogelon Mars has gone up from $26 million on Oct 1 to $1.4 billion on Oct 30.

On Oct 29 and Oct 30, the token rallied by more than 200 percent as it listed on OKEx and Crypto.com on Oct 29.

On Friday, the Dogelon Mars wrote on Twitter, saying “Thank you Martians for all of your overwhelming support to get us listed on OKEx. It is only one of many stops on our intergalactic mission. $ELON emissions are being transported to your wallets right now.”

So will the Musk-inspired cryptocurrency beat Shiba Inu (SHIB)? That remains unclear. Shiba Inu rose by more than 850 percent in October to attain a market cap of around $38.50 billion and even surpassing Dogecoin itself.

On Friday, it outperformed Dogecoin (DOGE) to become the world’s ninth-largest cryptocurrency by market capitalization.

By Bibhu Pattnaik

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

Benzinga