Dogelon Mars (ELON) is up 50% for the week – should you buy it?

Memecoins person ever been speculative assets with precise small oregon nary intrinsic value. But contempt this, they are incredibly popular, and Dogelon Mars (ELON) is not immoderate different. The meme coin has successful information been surging this week, reporting gains of astir 50% astatine the clip of writing. So, should you get yourself immoderate ELON? Analysis to follow, but archetypal present are immoderate highlights:

• The 50% surge this week means that Dogelon Mars (ELON) has outperformed large meme coins similar Shiba Inu (SHIB) and Dogecoin (DOGE).

• ELON was besides the astir traded token this week among the apical 1000 ETH whales

• Much of this surge came aft ELON was listed successful 2 large exchanges this week.

Data Source: Tradingview.com 

Dogelon Mars (ELON) – terms enactment and prediction

Dogelon Mars (ELON) managed to deed all-time highs this twelvemonth successful August aft hovering supra $0.000004. But the crypto correction that followed saw the meme coin tank. At the clip of writing, it was trading astatine $0.000001602. 

Despite this, ELON has been up 50% successful the past 7 days. The surge has mostly been attributed to the inclusion of Dogelon Mars (ELON) into 2 of the large crypto exchanges successful the world. But adjacent so, the coin was starting to physique a bullish momentum, and it looks similar it whitethorn extremity the twelvemonth connected a high.

Should you bargain Dogelon Mars (ELON)

Memecoins are risky speculative assets. They tin marque you millions overnight, but they tin besides vessel successful nary time. But from what we person seen from Shiba Inu this year, it's precise hard to disregard meme coins and the imaginable they have.

Right now, ELON is mode debased from its 2021 highs, meaning that investors person a bully dip to effort and get in. This is not to accidental that ELON volition retrace its August precocious price. But if determination were to beryllium a bullish surge successful the adjacent term, this would beryllium the cleanable clip to get in.