Dogelon Mars (ELON) is a cryptocurrency inspired by dogs and is based on Ethereum and Polygon networks. It is similar to other popular dog coins like Dogecoin, Shiba Inu, and Floki. It aspires to be a universal currency for space colonization and plans to go beyond Mars.
Dogelon (ELON) reached its peak value of $0.00000259 on Oct 30, 2021 (Over a year ago). The current value is -94.02% below the highest value ever and Dogelon (ELON) has declined by -11.99% in the past week. There has been an advance of +11.51% in the trading volume of ELON resulting in $1.15M in the last 24 hours as per CoinMarketCap.
Dogelon (ELON) has dropped by -11.99% in the past week, doing worse than the global cryptocurrency market which has fallen by -1.60%, and doing worse than other Ethereum Ecosystem cryptocurrencies which have grown by 12.70% as per Coingecko.
Dogelon(ELON) reversed after making a low of 0.0000001493 and started to make higher levels but could not break the previous swing and moving averages which resulted in the continuation of the downtrend and the market is further continuing towards the downward rally.
Source: ELONUSD.OKX.1D by TradingView
The Dogelon(ELON) is currently trading below the 20,50-day Exponential moving average resulting in a bearish crossover which represents the presence of sellers in the market. If sellers continue to push the market down then Dogelon(ELON) can show further lower prices in the upcoming days which can further lead to a downtrend.
Based upon the current market scenario the RSI for Dogelon(ELON) looks weak as it is trading below the level of 50 and has just taken the rejection from the same level as on 03 July 2023. The RSI bounced back from the oversold zone but is unable to break the level of 50 and is still sustaining at the lower levels.
By looking at the charts we can clearly see that the market has been dropping from the higher levels and consecutively sustaining below the 20,50-day Exponential moving average and has been making new lower low levels and is still following the same which indicates that we can further see more lower prices coming in the Dogelon(ELON).
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the ELONticle does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.