Elon Musk-Inspired Meme Coin Rallies 28%, Leaving Dogecoin, Shiba Inu In The Dust
Dogelon Mars (CRYPTO: ELON), a meme coin, is rallying more than 28% in the past 24 hours, even as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) were muted.
What Happened: At the time of writing, ELON was trading at $0.00000039. The intraday volume increased by 64% since the last day, reaching a $6 million milestone.
See More: Best Crypto Apps
The price boost for ELON came in after on-chain fantasy sports platform Rage Fan on Saturday partnered with the meme-coin ELON to present blockchain gaming specifically for people who hold the ELON token. The partnership features complimentary Call of Duty tournaments for ELON token holders.
🕹️Recently, Rage Fan collaborated with @DogelonMars to introduce blockchain gaming for $ELON Holders.
To Celebrate this partnership, we are delighted to announce Free Call of Duty Tournament for $ELON Holders.
🎁Giveaway: 20000000+ $ELON
Read More👇https://t.co/U9DH3mEGww pic.twitter.com/HcnlxUisin
— Rage Fan (@RageFanSocial) November 3, 2022
Dogelon Mars is tapping into a few well-known trends in the meme coin scene. The name is a combination of Dogecoin and Musk. Apart from the humorous name, Dogelon Mars has managed to generate a large following, with over 455,000 Twitter followers.
Price Action: At the time of writing, Dogecoin was trading at $0.10, up 2%, while SHIB was at $0.000009377, up 0.92% in the last 24 hours, according to Benzinga Pro.
Read Next: Sam Bankman-Fried To Testify Before U.S. House Committee After 'Learning and Reviewing' FTX Crash