Is Dogecoin Price Move Over - Dogelon Mars Predicted to Pump Next?
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Following Elon Musk's recent acquisition of Twitter many dog themed meme coins have gone parabolic, including Dogelon Mars.
Over the last few days Dogelon Mars meme coin has pumped over 100% as high as $0.0000005736 as the euphoria sets in.
A short term pull back might be coming and buying in now could be risky. Which alternative altcoins could have greater upside potential?
Meme coins are in a trend once again, we've seen Dogecoin rising, Shiba Inu looking rather bullish, and Tamadoge over quadrupling in trade volume.
Dogelon Mars is also sparking up some interesting candles on the price charts, though buyers should resist any sensation based around FOMO as chasing parabolic moves like this can lead to large losses.
Before the Elon Musk announcement Dogelon Mars had been trading sideways in an accumulation range for around 72 days.
Now Elon Musk has purchased Twitter there are speculations of integrations for crypto wallets to be used on the social media platform.
This particular news has driven the price of many major meme coins, Dogelon Mars included.
The above chart reflects Dogelon Mars (ELON) soaring up to $0.00000058 and correcting perfectly down to the 0.618 Fibonacci at roughly the $0.0000003874 level.
Since then the price has briefly recovered and is now trading at $0.0000000445. This particular impulse wave also led Dogelon Mars (ELON) to be overbought on the daily relative strength index which means there is a possibility there might be a reversal.
Right now the price action seems to merely depend on speculation of the Twitter acquisition and what Elon Musk might plan
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