- Dogelon Mars made a 3,780% gain in the month of October.
- The meme coin has surged on the wave of social media hype and retail enthusiasm.
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Dogelon Mars traded at $0.00000229 on November 1, up from $0.00000005 on October 1, according to data from $4. It made a 200% leap on Oct. 29 and 30 when the $4 app and $4 listed it for trading.
The surge pushed the ethereum-based coin's market capitalization from $26 million to $1.19 billion in a month, making it $4 by market cap.
October was a solid month for cryptocurrencies across the board, with other meme coins like shiba inu coin and dogecoin also gaining in October.
Shiba inu coin in particular has seen impressive gains. Like Dogelon Mars, the "$4" started as a joke but is now worth serious money, with a market cap of around $38.5 billion.
Conversations on Reddit's Wall Street Bets and across social media have continued to boost meme-coin popularity, and Dogelon Mars has been riding the wave of enthusiasm.
The $4 shares $4 and updates as the coin continues to rack up gains, and on Sunday #dogelonmars was trending on Twitter.
According to $4, developers intend for the currency to be the first interplanetary currency. The website - complete with a cartoon dog in a spacesuit and animated background - includes a fictional story about its creation, adding additional flair to its meme-coin status.
After hitting its high of $0.00000233 on Saturday, Dogelon Mars saw an almost 30% price correction which formed a bull flag, or an indicator that suggests a bull run may be on the horizon.