Key Takeaways:
- The price of Dogelon Mars (ELON) is down over 99% since its all-time high
- The project will launch a new AI integration initiative on September 18
- Dogelon Mars developers hope the AI project will help boost the ELON price
YEREVAN (CoinChapter.com) — Dogelone Mars (ELON), the meme coin named after Tesla CEO Elon Musk, is battling to remain relevant.
Having created ripples in the industry amidst the growing list of altcoins, the token has tanked extensively, bringing losses to its long-term investors. At the time of writing, the price of ELON is down over 99% from its all-time high of $0.0000003263 on July 31, 2021.
The battled meme token is currently trading at $0.0000001351, according to CoinMarketCap. Year to date, it has tanked around 50% so far. However, with no signs of recovery, the token might tank even further, creating more panic among its fans.
Many early adopters seem to have lost faith in Dogelon Mars.
Those investors that initially bought the coin anticipated stratospheric gains. They banked on the social media hype that its name would create. After all, Elon Musk had pumped the price of meme tokens before. Dogecoin (DOGE) is a good example of that.
However, with no love from the “Dogefather” and no media craze picking up, tangible progress on the project has remained elusive.
Could Dogelone Mars AI pump the ELON price?
A new hope has recently emerged amid the gloom surrounding the price of the ELON token. The project’s team recently set out a series of tweets teasing an upcoming artificial intelligence (AI) endeavor.
One cryptic tweet hinted at the prospect of “effortlessly building a future on Mars with AI,” with further details slated for revelation on September 18. The devs also released an animation depicting the Dogelon mascot falling into a different dimension of artificial intelligence.
Moreover, the team has announced that they will be releasing a fresh collection of Nonfungible Tokens at the launch. Dogelon enthusiasts have been given the exclusive opportunity to secure their spot for guaranteed minting in the forthcoming Dogelon AI NFT release.
Those who hold ELON tokens and have registered will get an initial two-hour window, known as the Allowlist period, to mint their tokens.
The maximum supply of the upcoming NFTs is 9,000, with a mint price of 0.009 ETH on each.
Notwithstanding these announcements, the price of Dogelon Mars has yet to exhibit any substantial positive movement. The upcoming AI initiative is just a “hopium” for the devs, who expect to see the ELON price surge from today’s embarrassing lows.
However, the fans of the token have not shown much excitement about the AI project on social media. Given their passive reception, it is unlikely that the price of ELON will recover anytime soon.
