Elon Coin Skyrockets 229x Overnight and Now Capital is Moving to This Fresh Multi-Chain Meme Coin

cryptonews.com:

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.

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,