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Dogelon Jumps 6.15% Over The Last 24 Hours – Can ELON Rally Further?

Dogelon Mars (ELON) isn’t just another meme coin. In fact, its crypto team shows off this ERC-20token as a universal currency.

The ELON token has been growing aggressively and has seen a phenomenal growth spurt of 6.15% overnight.

The ELON meme coin currently trades at $0.0000003618. To date, investors are trying to zero in on the Dogelon Mars (ELON) value at the lower price levels as it forms a symmetrical triangle pattern on the current price charts.

As of press time, it looks to form a continuation pattern that could likely invite a breach on the upside.

Dogelon Mars (ELON) follows suit with that of Bitcoin, Ethereum, and other cryptocurrencies in the green as the new meme coin on the block has soared by 62%.

What’s The Dogelon Mars (ELON) Project?

The ELON project is said to have this dream or mission of reversing the damage inflicted by crypto fraud and scams. Evidently, the Dogelon Mars (ELON) community also donates ELON tokens to crypto scam victims.

Dogelon Mars (ELON) is inspired by a comic series NFT character. The dog-themed meme coin that is built on the Ethereum blockchain was introduced in the crypto scene on April 23, 2021, but it exploded in popularity when it had its bull run in November 2021. The crypto team also elaborated on their plans for expanding the ELON project.

Judging by the technical analysis, the ELON meme coin has been gliding with a symmetrical triangle pattern for over 62 days. This is definitely exciting to watch especially as the tension gyrates in between the support and resistance trendlines. In effect, the bulls and bears are in a constant struggle to see where the price leaps next.

Will ELON Make It Or Break It?

So, if the bulls remain consistent with the positive price momentum then we will most likely see a breach that may result in an ELON price surge of 78.6%. The target for this bullish perspective is $0.0000006448.

In contrast, traders should anticipate that they’re bound to face enormous resistance to the ELON meme coin at the $0.000000502 zone which is mainly due to the swing-low depicted from January 22 of this year which has switched into resistance.

Apart from the symmetrical triangle pattern, there is also an appearance of a hammer candle coined as bullish which was seen on a weekly chart.

For most parts, the hammer candle can be spotted at the end of a downward trend. However, the strong buying momentum has caused the ELON meme coin price to soar.

In the event that Dogelon Mars (ELON) coin beaches the resistance level, the price surge will most likely continue.  However, given the influx of macro-economic factors hindering a bull run, it could be a make-it or break-it outcome at this point.

Crypto total market cap at $1.08 trillion on the daily chart | Source: TradingView.com

Featured image from Watcher Guru, chart from TradingView.com

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Five Best Meme Cryptocurrencies To Keep An Eye On In 2022

Meme tokens are cryptocurrencies with increased popularity within a short period. The remarkable acceptance of this type of cryptocurrency comes from the activities of retail investors or influencers. As a result, the meme cryptocurrencies have experienced tremendous growth throughout 2021. This explains the new market capitalization of the coins, which is more than 43 billion.

The meme cryptocurrencies are gaining more adoption in different sectors, of which Dogecoin and Shiba Inu are the top tokens with astronomical increases. In addition, some companies like AMC Theatres, Guaranty Escrow, EasyDNS, and others now accept Dogecoin for payment.

Related article | Only In Crypto: A Croissant Breaks Down How GameStop & NFTs Will Boost Ethereum

Here are some of the meme tokens you can include in your digital portfolio.

Dogecoin (DOGE)

Dogecoin has taken the lead is the top and most profitable meme coin for your investment. With the influence of Elon Musk, the CEO of Tesla and SpaceX, Dogecoin, witnessed significant growth in 2021. Furthermore, the billionaire CEO, Musk, announced in December 2021 that Tesla adopted Dogecoin as one of the payment options.

Besides Tesla, other companies are interested in this fast-growing dog-themed meme coin. For example, AMC Theatre, one of the prominent theatres with the most significant number of branches, indicated its acceptance of DOGE as a payment method.

DOGE currently is facing a dip | Source: DOGEUSD on Tradingview.com

The move of this number meme token has put its market cap at 22.7 billion while its price at the time of writing is $0.1582 showing a dip of 7% within the last seven days. Dogecoin had its all-time of $0.73 on May 3, 2021. Analysts predict that this meme coin will hit $1 in a few months from its price performance.

Shiba Inu (SHIB)

Shiba Ina Coin has made a remarkable increase making its way to the top ten cryptocurrencies. SHIB stands as one of the top meme tokens for profitable investment with its price performance.

SHIB follows a downward trend | Source: SHIBUSD on Tradingview.com

It has competitively raced with Dogecoin to emerge as ‘the most searched cryptocurrency for 2021’. Coinmarketcap gave a record of more than 188 million views for Shiba Inu as the top as Bitcoin follows behind it with about 145 million views.

This meme coin has a market cap of over $18.2 billion. Its price at the time of writing is $0.000033, indicating a dip of 2.19% within the last 24 hours. Shiba Inu hit an all-time high of $0.00008 in October 2021.

Dogelon Mars (ELON)

Dogelon Mars is derived by joining Dogecoin and Tesla’s billionaire CEO, Elon Musk, promoted Dogecoin. As a result, this meme coin has risen to be number 3 meme tokens and stands as an excellent investment means for profit.

ELON stays in red zone | Source: ELONUSD on Tradingview.com

By following the steps of Dogecoin, Dogelon Mars has become one of the top meme coins that are highly sought for. Some crypto exchanges such as Huobi, Gemini, Crypto.com now support the meme coin on their platforms.

The dog-themed coin boasts a market cap of about $869 million. Its price is $0.000001328 showing a drop of 5% within the last 24 hours at the time of writing.

Samoyedcoin (SAMO)

Samoyedcoin shares some similarities with the Solana Network. However, the meme coin enables high scalability, speedy transactions, and low fees.

Samoyedcoin loses ground as BTC fall | Source: SAMOUSDT on Tradingview.com

Furthermore, the meme coin ensures scarcity through its token burns three times from its launch time. The last destruction in November 2021 resulted in the burning of up to 500 million SAMO tokens.

This meme coin has a market cap of about $124 million. At the time of writing, SAMO is $0.03174 showing a drop of 3.36% within the last 24 hours.

MonaCoin (MONA)

Created in December 2013, Monacoin operates as an open-source p2p network.

MONA attempts to rise | Source: MONAWETHon Tradingview.com

This meme coin was developed in Japan as the first altcoin. It later boomed after being used in an advert for buying land in Nagano.

Related article | Why was 2021 an important year for NFT?

Monacoin currently has a market cap of about $77 million. Its price at the time of writing is $1.11, with a 1.95% dip within the last 24 hours. The meme coin had its all-time high in 2017 and is considered one of the investment tokens to boost your profit.

Featured image from Pexels, Charts from TradingView.com