What is Eloncoin (ELON) crypto coin? The truth about Solana, Ethereum, and Dogelon Mars versions

Eloncoin (ELON) isn't one coin. It's a mess. And that's exactly why it's confusing you right now.

You've probably seen ads for ELON on social media - flashy graphics, promises of quick riches, Elon Musk's face slapped on a token. But here's the reality: there are at least three completely different cryptocurrencies using the name ELON. None of them are connected to Elon Musk. None of them are official. And most of them are barely worth the gas fee to trade.

Official Elon Coin (Solana)

The newest player is Official Elon Coin, launched on January 19, 2026, on the Solana blockchain. It was created by fans, not Elon Musk. No endorsement. No involvement. Just a group of people who saw how the Official Trump token blew up and thought, "Why not do the same with Elon?"

This version uses Solana because it's fast and cheap. Transactions cost pennies and confirm in seconds - perfect for memecoins that live and die by hype. The total supply is 690,420,000,000 tokens. But here's the twist: 65 million of those were locked up and are being released slowly - 2.16 million per day for a month. That’s not a giveaway. It’s a tactic to avoid a crash on day one.

At its peak, this version hit over $26 million in market value within 24 hours. Today, it trades around $0.00029 per token. That’s down from a high of $0.000387. Not bad for a coin that didn’t exist three months ago. But it’s still a gamble. One tweet from a fake Elon account could send it spiraling.

Eloncoin (Ethereum ERC20)

Before Official Elon Coin even existed, another ELON was already floating around on Ethereum. This one has a total supply of 690,420,000,000 tokens - same number. But it’s a completely different contract. Its origin? A wallet address that ends in 69420E. You know what that means. It’s a joke. A meme. A digital inside joke that turned into a token.

This version doesn’t have a team. No roadmap. No locked liquidity. No official website. Just a contract on the Ethereum blockchain that anyone can trade. It trades on decentralized exchanges like Uniswap. Its price? Around $0.00028. Market cap? Roughly $637,000. That’s tiny. For comparison, Bitcoin’s market cap is over $1 trillion. This coin is a speck.

It’s not dead. It’s not alive. It’s just… there. People buy it because it’s cheap. They sell it because they think someone else will buy it for more. That’s the entire strategy.

Dogelon Mars (ELON)

Then there’s Dogelon Mars - yes, it also uses $ELON. And yes, it’s a separate project. It launched back in 2021 with a total supply of 1 quadrillion tokens (that’s 1,000,000,000,000,000). Half of those tokens were locked into a liquidity pool on Uniswap. The other half? Donated to Vitalik Buterin, Ethereum’s co-founder.

Buterin didn’t keep them. He gave them away - to DAOs, to charities, to random crypto wallets. That’s why you might have gotten Dogelon Mars as a gift if you were in the right place at the right time. Today, Dogelon Mars trades at $0.00000007. It’s worth almost nothing, but it still has a community. People still talk about it. Still meme about it.

It’s the OG of the ELON memecoins. And it’s still around. Not because it’s valuable. But because people remember it.

Why does this mess even exist?

Memecoins thrive on chaos. They don’t need utility. They don’t need a product. They just need a name that makes you laugh or makes you think of someone famous. Elon Musk is perfect for that. He tweets about dogs, space, and Bitcoin. He’s unpredictable. He’s viral. And that makes him a magnet for crypto scammers.

These ELON coins are not investments. They’re social experiments. They’re digital lottery tickets. You’re not buying a company. You’re not buying tech. You’re buying a feeling - the hope that someone else will pay more for it tomorrow.

And guess what? Sometimes, it works. People have made money on these coins. But they’ve also lost everything. The price of Official Elon Coin jumped 14% in a week while the whole crypto market dropped. That’s not because of innovation. It’s because someone posted a meme on X (formerly Twitter) and 50,000 people bought in.

Where can you trade ELON?

If you’re still curious, here’s where you can find these tokens:

• Official Elon Coin (Solana): Binance, MEXC, and Solana-based DEXs like Raydium
• Eloncoin (Ethereum): Uniswap, SushiSwap, PancakeSwap
• Dogelon Mars: Uniswap, Gate.io, KuCoin

None of these are on Coinbase or Kraken. They’re too risky. Too volatile. Too messy. Only the smaller, less regulated exchanges list them.

Should you buy ELON?

Here’s the honest answer: probably not.

These coins have no real value. No revenue. No product. No team you can contact. No roadmap beyond "we’ll keep tweeting." The all-time high for Official Elon Coin was $0.000078 - that was over a year ago. Today, it’s down 98.8%. That’s not a dip. That’s a collapse.

Some people treat these like poker chips. They risk a few dollars because it’s fun. They treat it like a game. That’s fine - if you know what you’re doing. But if you’re thinking of putting in rent money or savings? Don’t.

The market cap of all ELON coins combined is less than $1 million. That’s less than the price of a single Tesla Model Y. You’re not investing in the future. You’re betting on a meme.

What’s the real lesson?

Eloncoin isn’t about crypto. It’s about attention. It’s about how fast a joke can turn into a price chart. It’s about how easily people confuse hype with value.

The fact that three different projects use the same ticker symbol - ELON - and all of them are still trading? That’s the story. Not the price. Not the blockchain. Not the tokenomics.

The real crypto lesson here? If a coin is named after a person instead of a technology, you’re not buying innovation. You’re buying a rumor.