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Elon Musk-Named Dog Coin Embraced by Major Crypto Exchanges

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Thu, 12/23/2021 - 18:43
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Alex Dovbnya
Huobi and Gemini have listed a cryptocurrency inspired by Elon Musk
Elon Musk-Named Dog Coin Embraced by Major Crypto Exchanges
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Dogelon Mars (ELON), a meme dog coin named after Tesla CEO Elon Musk, has started gaining some significant traction with major exchanges after being listed on OKEx in October.  

Huobi, one of the top crypto trading platforms, listed the meme cryptocurrency earlier today. Spot trading will start when there’s sufficient deposit volume.      

Gemini, the cryptocurrency exchange spearheaded by Tyler and Cameron Winklevoss, announced earlier today that ELON is now available on its website and mobile app. The meme cryptocurrency can be traded against the U.S. dollar, the Canadian dollar, the British pound and the euro.

The Gemini listing is quite significant for ELON given that the Winklevii-backed exchange is known for its strong regulatory compliance.

In mid-November, the New York-based trading platform also added support for Shiba Inu, the top-performing cryptocurrency of the year, that also helped to fuel a massive 4,000% rally in Dogelon in October.   

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Another Dogecoin rival    

Dogelon Mars is an ERC-20 token that was launched on the Ethereum blockchain in April amid the peak of the Dogecoin mania.

Despite not being associated with the centibillionaire in any way, ELON managed to gain a significant following. Its official account boasts over 322,000 Twitter followers.

The ELON price is up 25% over the past 24 hours, which pushed its market cap to $930 million. The most recent spike allowed the token to briefly re-enter the top 100 cryptocurrencies on CoinMarketCap earlier today.

ELON remains down 33.9% from the Oct. 30 peak of $0.00000259. SHIB, for comparison, is 55.64% away from the lifetime peak.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.