What Is Dogelon Mars? ELON Token Price, Meme Coin Overview & Trading Guide

Dogelon Mars is what happens when you combine Dogecoin, Elon Musk, and Mars colonization into a single meme coin and somehow end up funding research on the International Space Station. Launched in April 2021 as an ERC-20 token, ELON rode the dog-coin mania to a 3,600% rally in October 2021 before spending most of the following years giving those gains back.

The token trades around $0.00000003 in February 2026 with a market cap near $34 million, down roughly 99% from its all-time high of $0.0000026 set in October 2021. It operates on Ethereum and Polygon, with bridges to Solana, BNB Chain, Cronos, and Fuse. The project also launched its own Layer 2 chain called Rufus (built on Arbitrum Nitro) to power a 3D metaverse where every transaction burns ELON tokens.

The origin story is the most interesting part. At launch, 50% of the 1 quadrillion token supply was sent to Ethereum co-founder Vitalik Buterin, who donated 43% to the Methuselah Foundation (a longevity research nonprofit) and swapped the remaining 7% to ETH for other charitable donations. The other 50% was permanently locked in a Uniswap liquidity pool, with the LP tokens burned so the team could never pull liquidity. No team allocation, no presale, no rug-pull mechanism.

Whether that foundation makes ELON worth holding at current prices is the harder question.

How Did ELON's Token Distribution Work?

The tokenomics are simple, but the supply numbers are overwhelming.

The circulating supply question is complicated. CoinMarketCap reports approximately 999 trillion ELON in circulation, while other trackers like CoinGecko show closer to 549 trillion, depending on how they count the tokens held by the Methuselah Foundation. The Foundation pledged not to dump their holdings and to maximize long-term value, but those tokens are technically accessible, which is why supply estimates differ.

The zero-tax structure means no buy or sell tax on trades, unlike many dog-themed tokens that charge 5-10% per transaction. This makes ELON cleaner for active trading and removes friction on both entry and exit.

What Is the Rufus L2 Chain and the Metaverse?

The biggest development since launch is the Rufus Chain, a Layer 2 blockchain built on Arbitrum Nitro in collaboration with Caldera. It went live in 2025 to support the "Dogelon: Land on Mars" 3D metaverse.

The key mechanic: ELON is the native gas token on Rufus, and every gas fee is permanently burned. This makes Rufus a continuous buy-and-burn engine. The more people use the metaverse (minting land, building, trading NFTs, playing games), the more ELON gets removed from circulation. Given that the supply is 1 quadrillion tokens, the burn rate would need to be enormous to make a meaningful dent, but the deflationary direction is correct.

The metaverse itself launched on mainnet in June 2025 and has received active updates:

Users can buy virtual land, build structures using AI text-to-3D generation (type "treehouse by a lake" and the AI builds it), host events, trade NFTs, and participate in quests. The AI integration lowers the barrier to entry compared to traditional metaverse platforms that require 3D modeling skills.

The project also ran VibeCon 2025, a $10,000 game development competition where participants used AI-assisted coding tools to build Dogelon-themed mini-games, with no coding experience required.

Is the metaverse gaining traction? Active user data is limited, and the overall metaverse sector has cooled significantly from its 2021-2022 hype. But the development pace is real, and the burn mechanism gives it a direct connection to ELON's tokenomics.

What About the Methuselah Foundation and ISS Research?

This is the part of the Dogelon Mars story that separates it from pure meme-coin noise.

When Vitalik Buterin donated approximately $336 million worth of ELON tokens to the Methuselah Foundation in May 2021, the Foundation did not sell. They issued a press release committing to hold for at least one year and to be responsible stewards of the token. The Foundation focuses on extending healthy human lifespan through regenerative medicine and longevity research.

Through its partnership with the Methuselah Foundation, the Dogelon Mars community funded a vascular tissue science experiment that was sent to the International Space Station. The ISS U.S. National Laboratory publicly recognized the contribution, which is about as legitimate a credential as a meme coin has ever earned.

The community has also conducted targeted airdrops to victims of crypto rug pulls, including distributions to holders affected by the WOGE and CUBACOIN scams. This "humanitarian meme coin" angle is genuinely unusual in the space.

What Else Is in the Ecosystem?

Beyond the metaverse and charitable work, Dogelon Mars has a few other components:

The project publishes a comic series on its website and OpenSea following Dogelon (the dog character) on adventures through space. These are not utility-bearing NFTs in any meaningful financial sense, but they keep the community engaged and build the brand narrative.

Dogelon AI (ai.dogelonmars.com) lets users generate Dogelon-themed artwork and mint the results as NFTs. It is a lightweight feature, but it demonstrates AI integration across the ecosystem.

The xELON governance token has been discussed since 2021 as a staking reward for ELON holders who participate in DAO governance. As of February 2026, xELON has not launched. Plans for it remain on the project's roadmap, but the extended delay raises questions about execution speed.

The project has also signaled expansion to the Base chain (Coinbase's L2) as recently as January 2026, which would add another bridge and potentially tap into Coinbase's user base.

How Does ELON Compare to Other Dog-Themed Meme Coins?

ELON's market cap is roughly 0.1% of Dogecoin's. The multi-chain availability is broad (six chains plus Rufus), but daily volume of $2-7M is thin compared to the larger dog coins. The charitable angle and ISS connection are unique, but they have not translated into sustained price performance.

What Are the Risks?

99% below ATH and shrinking volume. ELON peaked in October 2021 and has been in a sustained downtrend for over four years. Daily trading volume of $2-7 million is low for a token with a quadrillion supply. Thin volume means wider spreads and more slippage on larger orders.

OKX delisting. OKX removed ELON from spot trading in January 2026, citing low liquidity and regulatory alignment. Users had until April 2026 to withdraw holdings. Losing a major exchange is a significant red flag for any token, and it reduces on-ramp accessibility.

No whitepaper, anonymous team. Dogelon Mars has never published a formal whitepaper. The founding team remains anonymous. The comic-based "roadmap" is creative, but it provides no technical commitments or timelines. The Rufus L2 and metaverse were community-driven additions, not part of the original plan.

Methuselah Foundation token overhang. The Foundation holds a massive amount of ELON tokens. While they pledged responsible stewardship, their initial one-year hold commitment expired years ago. Any significant sell pressure from this wallet would be devastating at current volume levels.

xELON never launched. The governance token was discussed in 2021 and still does not exist in February 2026. Five years without delivering a promised feature erodes credibility for any project.

How to Trade ELON on Phemex Onchain

ELON is available through Phemex's Onchain Trade platform, which provides direct access to decentralized liquidity.

Step 1: Log in to Phemex or create an account.

Step 2: Navigate to Phemex Onchain Trade.

Step 3: Select ELON from the available tokens and choose your trading pair.

Step 4: Enter the amount, review the transaction details, and confirm.

Phemex Onchain Trade routes through decentralized liquidity pools, so pricing reflects real-time on-chain rates. For a token with ELON's volume profile, be mindful of slippage on larger orders.

Frequently Asked Questions

Is Dogelon Mars a scam?

ELON is not a scam in the traditional sense. The team burned the LP tokens at launch (preventing a rug pull), half the supply went to Vitalik Buterin who donated it to charity, and the project has been active since April 2021. But it is a meme coin with limited utility, an anonymous team, no whitepaper, and a 99% decline from ATH. The risk of further decline is very real.

Can ELON reach $0.01?

At 1 quadrillion max supply, $0.01 per ELON would require a $10 trillion market cap, which is more than double the entire cryptocurrency market. Even with the Rufus burn mechanism running for decades, that supply reduction would not come close to making $0.01 realistic. More grounded speculative targets sit in the $0.0000001-$0.0000005 range, which would represent 3-15x from current levels.

What happened with the OKX delisting?

OKX removed ELON from spot trading in January 2026 due to low liquidity and regulatory concerns. Users had until April 20, 2026, to withdraw their ELON holdings. The token remains tradable on other centralized exchanges like Crypto.com, Gate.io, and KuCoin, as well as DEXs like Uniswap.

Does the Methuselah Foundation still hold ELON?

The Foundation received approximately 43% of the total supply from Vitalik Buterin in May 2021 and pledged responsible stewardship. There has been no public announcement of significant sells. However, their original one-year hold commitment has long expired, and their actual current holdings are not regularly disclosed.

Bottom Line

Dogelon Mars has the most unusual origin story in the meme-coin space. The Vitalik Buterin donation, the Methuselah Foundation partnership, the ISS research funding, and the rug-pull victim airdrops give it a charitable identity that no other dog token can match. The Rufus L2 chain with its burn-on-every-transaction mechanic is a genuine attempt to create deflationary pressure on a massive supply.

The problems are equally clear. A 99% decline from ATH, an OKX delisting, $2-7M daily volume, an anonymous team, no whitepaper, and a promised governance token (xELON) that still does not exist after five years. The metaverse is live and receiving updates, but metaverse projects broadly have struggled to retain users since the 2021-2022 hype faded.

ELON is a micro-cap meme coin with a compelling backstory and legitimate charitable credentials. It is not a scam, but it is a high-risk, high-volatility token that trades on sentiment and narrative rather than fundamentals. Position size accordingly.

This article is for educational purposes only and does not constitute financial or investment advice. Meme coins are highly speculative and volatile. Past price performance does not predict future results. Always conduct your own research and never invest more than you can afford to lose.