Bitaigen Research In this article we outline the origin of the ELON token, its connection to Elon Musk, and how to verify its identity on‑chain. By providing a clear contract overview and risk warnings, readers can quickly assess the token’s basic attributes. Subsequent sections will further dissect trading routes and community activity, so a thorough read is recommended.
We all know that Dogecoin surged to fame in the crypto space after a series of actions by Elon Musk, becoming something of a legend in the industry. The ability of Dogecoin and SHIB to maintain their foothold is also closely tied to Musk’s influence. Recently, a new digital asset has entered the public eye—ELON token. While there appear to be many threads linking ELON to Musk, the level of understanding among the community varies widely.
In fact, ELON is a fork of Dogecoin, launched as a brand‑new cryptocurrency on April 23 2021. Many investors are looking for the ELON token’s contract address; the following provides a concise introduction.
What is the ELON token contract address?
The ELON token’s contract address is 0x761d38e5ddf6ccf6cf7c55759d5210750b5d60f3. The token’s full name is Dogelon Mars, which clearly references both Elon Musk and Dogecoin. Musk once tweeted that Dogecoin’s holdings are overly concentrated and that he would support large holders who wish to sell their tokens.
“If the major holders of Dogecoin are willing to sell most of their coins, I’ll fully support them. The concentration is the only problem Dogecoin has.” — Elon Musk
The remark sparked concerns about a potential sell‑off. According to Bitcoin.com data, Dogecoin briefly fell from $0.063 to below $0.05 on Monday’s intra‑day session before modestly recovering.
Whether Musk was being serious or joking, the centralization issue he highlighted does exist. Data from Bitinfocharts shows that the single largest Dogecoin holder controls over 28 % of the circulating supply, amounting to a market cap of more than $7 billion; the top 102 addresses together own roughly 68 % of all tokens. Although many of these addresses are likely exchange wallets, no exchange has officially confirmed ownership.
On Twitter, a user asked whether Musk would withdraw his support if the large holders refused to sell. Musk replied, “Yes.” Another user suggested that Musk create his own personal token called ElonCoin, to which Musk responded, “I’ll consider it if necessary.”
ELON token overview
The ELON token was first issued on April 23 2021, with an opening price of $0.00010000 on its debut day. The token is slated to list on BitMart, where an ELON/USDT trading pair will become available. The rollout schedule (all times in Hong Kong Time) is as follows:
- Deposit function: May 16 2021 16:00
- Trading function: May 17 2021 16:00
- Withdrawal function: May 18 2021 16:00
As of November 8 2021, the investment return stood at ‑97.96 × (i.e., a loss of nearly 98 times the initial capital).
The historical price extremes for ELON are:
- All‑time high: $0.00000026271 (approximate USD value)
- All‑time low: $1.8425 (approximate USD value)
Exchanges that have already listed ELON include:
- OKEX: <https://www.ouyi.icu/>
- Gate.io: <https://www.gateio.fi/>
- KuCoin: <https://www.kucoin.top/>
*Note for U.S. users:* When accessing exchange services, use Binance.US or other regulated U.S. platforms rather than the global Binance site.
A reminder to all investors: the crypto market punishes reckless optimism. Many traders place orders without defining clear profit targets or stop‑loss levels, leaving them vulnerable when market conditions shift abruptly, often leading to amplified losses. Relying on external factors to “save” a position is unwise; timely stop‑loss execution remains the rational approach.
The above constitutes the full content of “What is the ELON token contract address? ELON token overview.” For additional information, follow the coverage provided by Bitaigen (BitRoot).
*Disclaimer: Cryptocurrency gains may be subject to taxation in your local jurisdiction. Please consult a qualified tax professional regarding your specific situation.*
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