Following Shiba Inu’s recent surge in price, another meme-coin named Dogelon Mars has increased significantly. During the last 30 days, this token has taken the market by storm, experiencing a 1000% increase. As a result, Dogelon Mars became part of the 100 biggest cryptocurrencies regarding market capitalization for a brief period of time.
Achieving such market capitalization put the name of Dogelon Mars on the map. The hype that built up around the token just pumped the token’s price even higher. It should be noted that the cryptocurrency market is a very volatile market, therefore, please invest at your own risk. Moreover, since this market is still very young, it is a speculative market, meaning that speculation and news can easily influence the market performance of a specific cryptocurrency.
To add to this, speculations that Elon Musk is the founder of Dogelon Mars began to surf around earlier this month. Although this is not known, there is reason to believe that this was just a misunderstanding.
Conclusion: Is Elon Musk Behind Dogelon Mars?
The founders of Dogelon Mars are anonymous and it is virtually impossible to find anything related to them on the internet. However, this does not mean that people cannot speculate about the founders of this meme-coin. As we mentioned above, people have started to speculate around this cryptocurrency quite heavily by claiming that Elon Musk is one of the original founders of this token.
Until today, Elon Musk has refrained from mentioning this project publicly. Nevertheless, there may be several reasons why he would not want to associate himself with this crypto project and the main one is loyalty. Elon Musk is known for publicly supporting Dogecoin and showing public support for a token that he allegedly created would seem like a betrayal to many. That being said, this action would have more consequences than benefits to him.
Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.
— Elon Musk (@elonmusk) October 24, 2021
Let us get back to what we already know – and everything shows us that Elon Musk is not linked to the Dogelon Mars project in any way. It is true that the name of Dogelon Mars is partially inspired by Elon Musk, but this does not mean that Elon Musk is one of the founders of this cryptocurrency project.
- Dogelon Mars has increased by more than 1000% in the previous month.
- Since the cryptocurrency market is very young, it is easily influenced by news and speculations.
- Recently, news that Elon Musk is the founder of Dogelon Mars has taken over the market. However, there is not enough evidence to prove such an opinion neither right nor wrong.
- Elon Musk is already connected to the Dogecoin cryptocurrency and founding a new token such as Dogelon Mars seems illogical.
- The only relation between Dogelon Mars and Elon Musk is the name reference of Dogelon Mars.