The Dogelon Mars price has been in a spectacular rebound in the past few weeks as meme currencies soar. The ELON price has jumped by more than 13,557% from its lowest level in September. This rally has brought its total market capitalisation to more than $1 billion.
Meme coin season
The Dogelon price is trading at 0.0000020 USDT, which is slightly below its all-time high of 0.0000025 USDT. This rebound has happened at a time when most meme coins have rallied substantially.
For example, a meme coin like Shiba Inu has seen its price soar and its market capitalisation rise to more than $39 billion. This is a substantially higher valuation considering that companies like Delta Airlines, BT Group, and IAG have a smaller valuation.
Other popular meme coins like Dogecoin, Floki Inu, Lucky Pig, Shiboki, and Akamaru Inu have also jumped sharply recently. This performance is not based on fundamentals. Instead, it is based on the euphoria surrounding Dogecoin and Shiba Inu. For example, Elon Musk has said that he owns Dogecoin, which is notable for someone worth more than $330 billion. So, will the Dogelon Mars price keep rising?
Dogelon Mars price prediction
The daily chart below shows that the Dogelon Mars price rose to an all-time high of 0.000002 USDT5. This price was slightly above the previous all-time high that was reached in May this year.
A closer look shows that the ELON price has formed what looks like a cup and handle pattern. In price action analysis, this pattern is usually a sign of bullish continuation. The current decline is part of the formation of the handle section.
Therefore, I suspect that the coin will resume the bullish trend as more traders pile into the currency.
