Every market out there consists of leading assets or companies. For example, Apple and Tesla stocks are some of the biggest stocks in the stock market. When it comes to the cryptocurrency market, we have the famous leaders – Bitcoin and Ethereum. These two have been around for quite some time and they have shaped the market as we know it.
When they first rolled out, they were considered as fraud or scams. However, today Bitcoin is officially classified as an Exchange Traded Fund (ETF) and numerous companies such as Microsoft are planning to implement Ethereum’s smart contracts because of their efficiency.
The technology of Ethereum has given birth to many other cryptocurrencies and tokens. Although none of them come close to being as innovative as Ethereum is, most of them represent something that has unique values. One of these projects is Dogelon Mars.
What is Dogelon Mars?
So, what exactly is Dogelon Mars, and how does Dogelon Mars work? Well, Dogelon Mars is quite impressive, to say the least. Being built on the Ethereum blockchain makes it an ERC-20 token. This also makes it eligible to be traded at most Ethereum-powered decentralized exchanges such as Uniswap. The token has a circulating supply of 555 trillion tokens and a market capitalization of $1.05 billion. It must be noted that the token became one of the hundred biggest cryptocurrencies in CoinMarketCap recently.
At a glance, Dogelon Mars does not stand out from the crowd and has similar tokenomics and other properties as other projects built in the Ethereum blockchain. This makes it less credible in the eyes of many serious investors; let alone the fact that Dogelon Mars is a meme-coin. But the fact that Dogecoin and Shiba Inu are both meme-coins and are two of the biggest cryptocurrencies in the market paints another picture.
There is something else that makes cryptocurrency projects like Dogelon Mars stand out – and that is community. These projects aim to become completely community-driven, and Dogelon Mars is successfully doing so. The community around Dogelon Mars keeps it ‘alive and healthy’. Even though this token is still young, its community is working on improving and promoting it in every way possible.
At the time of writing, the r/dogelon subreddit has more than 31,600 members or ‘Martians’. Furthermore, their official Twitter account @DogelonMars has more than 278,600 members. When it comes to Twitter, there are numerous community-run Dogelon Mars accounts that have thousands of members as well.
It is a known fact that meme-coins always try to incentivize people to join their communities by providing interesting backstories about their token. Dogelon Mars has done so by presenting the intro to their comic.
Conclusion: Is Dogelon Mars Legit?
But is Dogelon Mars legit? Well, as of today, no scam or anything alike has come from Dogelon Mars. Their team may be anonymous, but they are credible as far as everyone can tell. Having hundreds of thousands of members in their social media communities and more than 110,000 wallets, Dogelon Mars seems to be as legit as it gets. Until today, the project has proven to be quite successful as well. Investing in this token may be the right thing to do, but always remember to invest only as much as you can afford to lose; and of course, do your research.
Also Read: Dogelon Mars (ELON) Price Prediction 2022 and Beyond – Can ELON Eventually Hit $1?
Takeaways
- The cryptocurrency market has two main ‘giants’ and they are Bitcoin and Ethereum.
- Ethereum’s innovative technology has revolutionized the cryptocurrency market and thousands of new tokens have been created as a result.
- One of these tokens is Dogelon Mars – an ERC-20 meme-coin.
- Dogelon Mars has a huge community and more than 110,000 current holders. Recently, it became one of the 100 biggest cryptocurrencies in the market.
- All things considered, Dogelon Mars is a serious project even though it is a meme-coin. That being said, the token can be considered legit.