Meme Token Dogelon Mars (ELON) Gains Over 4000% in October
ELON Surpasses Market Cap Over $1 Billion
Over the past 7 days, the market cap and token value of Dogelon Mars (ELON) have risen by 317.5% with a market capitalization of over $1 billion at the time of writing.
The massive upside pushed Dogelon Mars' market cap from around $26 million on Oct. 1 to as high as $1.19 billion on Oct. 30. The cryptocurrency reached its latest all-time high of $0.00000259 on Oct.30, its highest level since May 13 after opening the month at $0.00000005.
"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."
The Retail Mania of Meme Cryptocurrencies
ELON's impressive gains come amid an ongoing retail mania across Dog-themed meme cryptocurrencies. Most notable is Shiba Inu (SHIB) which has risen by more than 850% in October to attain a market cap of around $38.50 billion, surpassing Dogecoin itself.
The meteoric rise of Dogelon Mars has seen the token flipping the likes of Ontology (ONT) and other legitimate projects with stronger fundamentals, attributed to a larger “meme coin” bull run.
During the last month, Google Trends (GT) worldwide data indicated that on October 27, the term “SHIB” scored 100 points while dropping the following day on October 28, to see a GT score of 93. While the search query “SHIB” got a 100 on October 27, the same-day search term “dogecoin” scored a 53. However, the following day “dogecoin” scored an 89 in contrast to the 93 “SHIB” scored on Thursday.