Just like internet memes skyrocketed in popularity in the social media world, memecoins soared in the online crypto sphere in no time at all. Some of the most talked about projects in the cryptocurrency world are memecoins, such as Dogecoin and Shiba Inu. No wonder, many more memecoin projects emerged soon after.
What about Elongate? The social impact coin has seen investors flocking to it amidst recent controversies, but is it sustainable in the long term? This article presents a detailed Elongate price prediction and the factors affecting the ELONGATE price in the future.
Elongate Coin Price Prediction 2023
A complete Elongate price prediction is covered later in this post, but for now, take a look at a quick summary of our ELONGATE cryptocurrency price prediction given below:
- End of 2023: As of 2023, the Elongate market has been removed from CoinMarketCap. We also couldn’t find its price chart on CoinGecko’s other listing sites. The project seems to have been rebranded to EG Token, with the native token called EG.
- End of 2030: If the Elongate token were to make a comeback, it has to provide much more value to the market than it once did when it was active. 2030 will see crypto assets going mainstream, and that wouldn’t provide much room for non-utility-based cryptos to survive for long.
| Ε Coin Name | EG (old) |
| 💲 Price | $0.0000000 |
| 🔆 Coin Symbol | EG |
| ⏳ Price Change 1h | 0% |
| 🌕 Price Change 24h | 0% |
| 💵 Market Cap | $0 |
| 🥇 Rank | |
| 🌐 24h Volume | $0 |
| 🔄 Circulating Supply | 0 |
| 💰 Total Supply | 569,000,000,000,000 |
Update – CoinMarketCap now displays a ‘market data is untracked’ warning on their ELONGATE listing.
Elongate Coin Price History
Before we jump right into the price history of the token, let us discuss a little about the Elongate crypto project first. Its team created the meme cryptocurrency as a social impact token to transform the social impact of the blockchain. Token holders receive incentives from a 10% transaction charge, and a sizeable portion of this money is then donated to charitable causes.
The initial supply of ELONGATE tokens, as of March 25, 2021, was 1 quadrillion tokens. Roughly 412 trillion out of these were burned at creation. Since then, over 24 trillion have been burned already. ELONGATE tokens are burned weekly on an ongoing basis.
ELONGATE is available on the Binance Smart Chain, and on PancakeSwap among other DEXs and CEXs. It didn’t make our best coins on PancakeSwap list however due to its bearish price action.
The Elongate team states that they are challenging the status quo of the crypto industry, tying profits organically to positive social impact through three pathways: sparking a social transformation, building transparent channels, and promoting earning and giving simultaneously.
The token was initially successful immediately after its launch. In three days of being listed on CoinMarketCap on April 8, 2021, the coin climbed to a high of $0.0000002. The spike came with a publicity stint announcing a Tesla giveaway for token holders.
On 20 April, Elongate saw yet another boost in terms of holders. More than 150,000 individuals were holding a portion of the crypto immediately after Coinbase started the token’s price tracking. On the next day, Elongate reached an all-time high of $0.00000109.
The spike was short-lived, though. The token’s price corrected to a low of $0.0000003 a week later, only to rise again a month later after its first major listing on Bitmart. Ever since a second peak of $0.00000088 on 11 May, Elongate has been plunging low. Leaving aside the October 2021 bullish trend that was common for the entire crypto market, the coin has shown no significant improvement. It reached an all-time low of $0.0000000112 on 12 May 2022.
Soon after the arrival of this all-time low, the token vanished from the market. There are no traces of it on CoinMarketCap or CoinGecko, and the official Twitter page had shown some instances of this token working on an upgrade. While the update did roll out in the form of the aforementioned rebranding to EG token, the project wasnt able to recover, and lost more value, before eventually fizzling out in terms of value.
The key milestones in ELONGATE’s price history so far were:
- Elongate was launched on March 25, 2021
- Out of the original supply of 1 quadrillion tokens, roughly 412 trillion were burned at creation.
- Over 24 trillion ELONGATE tokens have been burned already, burned weekly.
- The coin saw two peaks; one in April 2021 after Coinbase started tracking its price, and the second in May 2021 after its listing on Bitmart.
- After hitting these highs, ELONGATE has now lost 98% of its value since the second peak
- The token has now disappeared from the market.
Note that Elongate is now being EG on social media platforms on Twitter, e.g. with the cashtag $eg or hashtag #eg in short form.
ELONGATE Coin Price Prediction 2023
In the long term, our price prediction factors in the utility and value proposition of the coin instead of temporary social media types. The use cases of Elongate token were sufficiently charted out – as a store of value, for augmenting earnings through staking, and to buy NFTs (after swapping for BNB).
Via Elongate website
The project also had a roadmap outlining products such as the platform-native Salesforce Crypto Lightening Exchange, the decentralized multi-chain token burn platform BurnParty, the Elongate Swap for swapping BNB/BUSD, and the Gator Gang NFT collection.
The token was removed by the middle of 2022 and has now been placed for trading on a DEX as Elongate V2.
EG V2 trading is live – and it's easier than ever with EGTrade! https://t.co/qDpazA8GSB pic.twitter.com/LZjjFY1G5Y
— EG Token (@elongateog) March 8, 2023
Swapping this token requires one to use BNB. The social indicators suggest that the price of this asset may go higher once we start seeing the price charts showing some major movements. For now, however, we have to wait and see to make a short-term price prediction till the end of this year.
Elongate Price Prediction 2025-30
Finally, to arrive at a price prediction for the coin towards the end of this decade, it is important to factor in not just the project’s individual offerings but also the broader macroeconomic scenario.
While the majority of altcoins typically gain when investor sentiment is favorable, memecoins have not had a particularly positive history so far. Experienced investors will recall that memecoins like Dogecoin, Shiba Inu, and more recently Dogelon Mars all saw sharp gains during periods of social media hype but slowed down in the absence of it.
Ultimately, bigger macroeconomic factors such as growing inflation and interest rates could certainly impact token adoption and prices. Rising liquidity will assist cryptocurrencies like EG and support their price in the long run, but a crypto crash towards the end of the decade will have prices reeling back down.
The community around the crypto equally matters. The recent spike in EG’s popularity on social media has pumped up its followers to the tune of 170,000 followers. However, we must account for the fact that a large chunk of this could be spammy or bot engagement in the wake of Musk’s tweet. A closer look at “genuine engagements” on other platforms correlates with this observation.
Potential Highs & Lows of Elongate Coin
Long-term holders may find it useful to keep in mind the anticipated highs and lows indicated throughout our Elongate coin price prediction. However, since the token has only recently started trading after being removed from the exchanges and charting websites, we have to wait and see how far this token has grown.
Is It Worth Buying ELONGATE Coin in 2023?
This Elongate price prediction has highlighted how, despite its recent huge decline in value, ELONGATE can still prove to be valuable if it lives up to some key expectations. However, would we recommend Elongate as one of the top cryptocurrencies you must purchase in 2023?
No, we would not.
The reason is the availability of better tokens available in the market that are earlier in their roadmap – like Wall Street Memes – have already generated interest across the crypto community due to being savvy crypto assets.
Wall Street Memes
In 2021, Wall Street Bets became a sensation as a Reddit group of traders who joined forces to challenge established financial systems. Through their coordinated actions, they triggered a Gamestop short squeeze, driving the stock price to soar by over 400 times. Taking inspiration from this social media phenomenon, Wall Street Memes aims to adopt a similar approach but directed towards memecoins. Their objective is to foster a community that collaborates and mobilizes to boost the value of seemingly “useless” assets like memecoins, leading to wealth generation for participants.
The native token, WSM, is at the core of this ecosystem and has rapidly gained a substantial following. Wall Street Memes’ official Twitter page has even attracted the attention of influential personalities such as Elon Musk, further propelling the project’s momentum. Consequently, the Wall Street Memes presale has already amassed over $6 million, reflecting the enthusiastic response from investors.
Conclusion
While some took the crypto world by storm and continue to top market cap lists, others offer little value, and yet others are outright scams. Not all memecoins pumped since their initial hype right after launch, making it a poor idea to invest in these coins for the long term. Arguably one of those is Elongate.
This post reviewed a price prediction of the ELONGATE coin for upcoming years. However, it was delisted from exchanges given its low trading volume and abandoned completely.
We also covered tokenomics, the Elongate project background and the reasons it has gained market interest at some points. Despite the ELONGATE cryptocurrency price being much off its May 2021 highs, the coin’s high social media following offers a platform for a potential recovery – if the engagement isn’t fake and paid bots. Investors searching for a substitute for Elongate, however, might want to consider alternatives like Wall Street Memes.
Wall Street Memes (WSM) - Newest Meme Coin
- Community of 1 Million Followers
- Experienced NFT Project Founders
- Presale Live Now - wallstmemes.com
- $10+ Million Raised - Ends Soon