In the most recent meme coin pump, attention has returned to ERC-20 tokens as the Elon Musk-inspired coin, ELON, saw its price skyrocket by an astounding 229x overnight.
This article will provide an analysis of ELON’s current price trends and look to see whether an innovative new meme coin, Dogeverse, represents a more promising investment opportunity at this time.
ELON Price Analysis: How High Will Latest Elon Musk-Themed Meme Coin Fly?
The ELON token recently caught a wave in a typical meme coin rally, riding on the coattails of Elon Musk, who’s well-known in the community because of his support for Dogecoin.
Although, it’s important to note that there’s no official link between Musk and the ELON token. The token is just seemingly using his name to grab attention.
As price action continues to hammer upside resistance in a sustained rally move, the ELON token is currently trading at a market price of $0.0000398 (representing a 24-hour change of +68.35%).
This comes after ELON launched on Uniswap V2 DEX markets at around 8AM UTC on April 24, in a move that garnered a good degree of traction in the first hours as it shot up to post an initial ATH at $0.000036.
However, a well-defended consolidation move across 16 hours saw ELON’s price sustain support between $0.00001 and $0.00004, setting the stage for a second rally leg.
Now, in an ongoing move, ELON price has shifted to higher resistance after posting a fresh all-time high at $0.000052 – setting the stage for a further skyrocket.
Yet, now standing at a gigantic $25m market cap, this forms a make-or-break moment for the ELON token – will it rise to reach the 9-figure market cap league, or is it doomed to decline?
Some clues can be found in the order books, with buy pressure holding strong, representing 55% of transactions over the past hour.
However, for retail investors to get in early and capture the best gains – presales offer far more lucrative opportunities to invest your capital.
One DOGE to Rule Them All? New Multi-Chain Crypto Dogeverse Seeks To Deliver Dogcoins to Cross-Chain Trading
Dog-themed meme coins are big business in the 2024 crypto market, and a new project – Dogeverse (DOGEVERSE) – is making a name in the market with a unique offering: delivering cross-chain dog-coin trading.
The idea; which taps into the shift towards cross-chain ecosystems, has clearly supercharged excitement amongst retail traders – with the ongoing Dogeverse presale now standing at a whopping more than $10M raised.
Imagine effortlessly transferring your meme wealth between Ethereum, Avalanche, BASE, Solana, and BSC—Dogeverse seeks to deliver just that, providing bounds of upside potential for the new meme ecosystem.
Dogeverse’s developers believe that this approach democratizes access, and anyone can acquire the coin, turbocharging growth – and becoming a force across the crypto market.
Looking at events in the market, the in-demand Dogeverse presale will likely reap massive benefits as more users flock, searching for potent meme coins.
Supporters claim Dogeverse could be the next BONK and BOME, securing a $1 billion market cap in the coming weeks.
Don’t miss out on the next pump – follow Dogeverse on X to get the latest news and connect with the presale community on Telegram.
Join The DOGEVERSE Presale Here
The post Elon Coin Skyrockets 229x Overnight and Now Capital is Moving to This Fresh Multi-Chain Meme Coin appeared first on Cryptonews.
