Dogelon is a new cryptocurrency that allows you to store your coins on a special Dogelon wallet. In the same fashion as Dogecoin, it features fast and inexpensive transactions, meaning that they’re perfect for regular payments or smaller purchases.

There’s a new cryptocurrency token called Dogelon that has been generating buzz lately. And, apparently, the coin has been on the rise.

What is Dogelon?

Dogelon is a mixture of Dogecoin and Dogecoin investor Elon Musk, who is also the founder of Tesla.

• According to the Dogelon website, Dogelon coin is “a fork of Dogecoin, in the same sense that a knife is a fork of a spoon. I have named it after the capital city of Mars: Dogelon (pronounced Dog-a-lon, not Doge Elon because that would be arrogant).”

The goal of the coin seems to be mostly to help people reach Mars and stay safe from scams.

• “We want to reach Mars and beyond. However, many of those good people are rugged, or buy scam tokens that can’t be sold,” the Dogelon website read. “For this reason, the Dogelon community pledges to send tokens over time to victims of rugs and scams, so that the worst day of their trading life can be turned into their best. And after some time, they will be able to join us on our regular flights to Mars….”
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The rise of Dogelon

According to AMB Crypto, Dogelon has been “making crazy gains on its daily chart.”

• The token is on a nice bull run, with 120% growth in the last week and 1,015% growth in the span of just over a month.
• The coin has a max supply of 100 trillion coins. There’s a lot for the world to share and use.

The coin has increased and now ranks as the 10th largest cryptocurrency in terms of market cap. It’s outpacing other cryptocurrencies such as Chainlink, Litecoin and Solana.

Why Dogelon matters

It is likely that Elon Musk has a big influence in cryptocurrency, even if he isn’t extensively highlighting it. The fact that his coin was the most-tweeted-about project shows how widespread support for him is.

• “So, even though Musk may not be as influential as he once was, his presence certainly is overwhelming,” according to AMB Crypto. “Simply put, the Tesla CEO’s enthusiasm and promotion of meme-coins may have just spurred the growth of others like DOGE.”

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Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.