After silencing Dogecoin and Shiba Inu, why is ELON ‘barking’ the loudest

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Meme-coins never fail to startle people from the crypto-space with their out-of-the-blue exponential pumps. Amidst the broader uptrend saga, several such joke-coins have been faring exceptionally well recently. And among them, ELON has been stealing the thunder of late.

Since 1 October, this altcoin has appreciated by over 1200%. This means, if you had invested $100 in ELON at the beginning of the month, you would have unrealized gains worth $1200 at this stage. Quite outrageous, right?

Counting the feathers in its hat

People from the meme-coin community have already become as nutty as a fruitcake seeing the aforementioned mind-boggling numbers. Well, the meme-coin just didn’t stop at that.

With a market cap of over $330 million, ELON has now become the third-largest meme-coin. It is, currently, only behind DOGE and SHIB. What’s more, as per data from CoinGecko, ELON has been the most-traded coin on Uniswap’s v2 market over the last 24-hours.

Amidst this record-breaking spree, ELON also crossed the 75k HODLers benchmark – Something quite remarkable for a supposedly random coin.

Litmus test of HODLer loyalty

Well, records being shattered is great. However, at this point, it is essential to gauge the broader sentiment of the ELON community to see if the uptrend phase will be able to prolong itself or not.

To do so, let’s start by assessing the mean-coin age of this meme-coin.

Technically speaking, a rising slope of this metric indicates the broader…

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