I am a crypto fanatic, but sometimes I take the cautious step onwards. I hold some for long and some for short and mainly, it's money I can afford to throw, like going to a amusement center and indulge in my games of skills and all.
Elon Coin aka Dogelon Mars is a new coin, hyped out from DOGE and SHIBA with a current market cap of about USD900M with 1 QUADRILLION (1000 Trillion) coins issued out.
As of now, only Crypto.com is the only place selling and trading them, with a vague price of about 1 Euro to 1 Million Elon. There has no proper confirmation that ELON MUSK endorses the coin unlike what he tweeted about SHIBA the other day. I believe this is a token fee for listing in the exchange, tradable against EURO/USD/GBP/XSGD and USDT (teethers).
It’s more or less, speculative market, with some incepting at about $0.35/Mil and mostly between $1~$3 per Million Coins
Most players are Buy,Sell,Profit Take,Rebuy,Resell Cycle and with my own mid-time inception test *(where there is currently a 35M Trade Limit) , made about 150% profit on a mid range and rebuying to keep to the same level of purchases.
Only way to ride this out is to ensure the big market holding, ie with the huge number of people holding the coin so it’s more tradable.
However, I did some digging at their original contract where there are are some nasty comments with the transactions still pending by heck of alot and by over weeks and months. The developers have been keeping quiet and I honesly feel if you can afford to lose the money, go ahead..but other than that... do your proper due diligence.
Thats my 10 min wrap
#Doge #ELON #elonmusk #ELONCOIN #DOGELON