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

Christian Encila

Last Updated: July 30, 2022 9:40 am

2 mins read

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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

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.