Elon Musk Crypto Projects Vs BlockDAG - How Do They Compare?

Elon Musk crypto projects have a combined market capitalization well above $20 billion. There's no denying that Elon remains one of the most influential, and controversial, figures in the crypto market. Ever since he got involved in crypto by adopting Dogecoin, projects have been clamoring for the attention of the world's richest man.

One of the most valuable boosts a memecoin can receive is a retweet or a mention from Musk on his X platform. Every day, hundreds of projects are launched claiming to be supported by Elon, but only a handful have managed to achieve success.

The majority of Elon Musk crypto projects are memecoins. This means they rely on speculation; their prices are generally influenced by "vibes" on social media and supported by gorilla marketing by the community.

Even if some people claim these projects have no intrinsic value, many of them have made traders rich overnight. However, volatility goes both ways; they can go down as fast as they went up.

Long-term investors tend to favor projects with clear paths to mainstream adoption and real utility. BlockDAG, with its Layer-1 solution, decentralized crypto mining machines, and enormous presale raise, is therefore often cited as a better choice than memecoins.

In April 2019, the crypto market changed forever when Elon Musk wrote on X (formerly Twitter), 'Dogecoin might be my fav cryptocurrency.'" This short sentence turned Dogecoin into the leading memecoin in terms of market capitalization, and even with all the cycles we have witnessed since 2019, it has firmly held this position.

The Dogecoin story captured the attention of the world, and soon Elon Musk was jokingly touted as the "CEO of Dogecoin." The price of the based coin exploded, and stories of DOGE millionaires began to proliferate.

This post from Elon Musk was one of the turning points for DOGE. Source: X

During the 2021 bull market, DOGE hit $0.7, giving those who invested shortly after the Musk post unimaginable gains. For example, if someone had invested $100 when Musk tweeted and held until the peak, they would have seen a 10,000% gain, turning their $100 into $10,000. This kind of rapid appreciation fueled the hype and attracted even more speculative investment.

DOGE was just the start, as a wave of copycat projects started to pop up, all attempting to get the attention of Musk or somehow prove affiliation to the world's richest man. While most of these projects failed to gain traction, some have accumulated massive market capitalizations and rewarded early investors with huge returns.

The extent to which Elon Musk is connected to a crypto project can vary massively. Arguably, when it comes to Dogecoin, there is a clear connection due to the fact that he has repeatedly mentioned DOGE and even attempted to increase adoption by accepting DOGE payments at his company Tesla. This list of the top 3 Elon Musk crypto projects focuses on examples that have enjoyed considerable success and have some sort of link to Musk.

1. Dogecoin (DOGE)

Even though Dogecoin was launched over five years ago, it is still by far the leading Elon Musk-linked crypto. No project has received as much attention from Elon Musk other than Bitcoin. Ever since he was deemed the king of memecoins, it has held onto its position as the market leader by market cap.

Also Read: Will Dogecoin Reach $1?

DOGE is the native crypto of the Dogecoin Layer-1 network. It has an unlimited maximum supply and a circulating supply of one hundred forty-eight billion tokens. It is unusual for a memecoin to have its own chain, which is arguably another unique factor that helps Dogecoin.

DOGE has a market capitalization of over $20 billion, which makes it a top ten crypto by market cap, according to CoinGecko. In the past, its market capitalization has exceeded $80 billion.

DOGE has failed to hit a new all-time high since 2021. Source: CoinGecko

2. Dogelon Mars (ELON)

As the ticker $ELON suggests, Dogelon Mars is very closely linked to Elon Musk. The entire marketing around the project is based on the idea of Elon Musk's mission to send the first human to Mars. In addition, Dogelon claims to be a fork from Dogecoin, adding to its Elon Musk-themed lineage.

$ELON has an enormous maximum supply of one quadrillion tokens, which is typical of memecoins and often one of the biggest threats to its price chart. This massive supply can lead to significant price drops when oversaturation occurs, which is why BlockDAG has a hard cap on its supply.

ELON has attained listings on leading exchanges, and at its all-time high in late 2021, at the peak of memecoin madness, it had a market cap of $1.2 billion.

The ELON price crashed along with the broader market in 2022 and has struggled to recover. The chart shows ELON trades at a 95% discount on its all-time high, but it still has a considerable market cap above $75 million.

3. Kekius Maximus (KEKIUS)

Kekius Maximus is one of the newcomers to the Musk crypto niche and has enjoyed considerable amounts of success. KEKIUS launched on the Ethereum blockchain in late 2024 and quickly saw a massive surge in buying pressure, which pushed it to its all-time high of $0.4 with a market capitalization of $180 million.

Kekius Maximus gained traction after being mentioned by Elon Musk on X. In addition, it tapped into the Pepe crypto community, where users adopted it. This created a strong social media presence and drove significant trading volume.

This is a classic example of a memecoin becoming successful based on social media hype. The mention from a high-profile figure like Elon Musk, coupled with the support of an existing community, can create a powerful catalyst for price appreciation.

Since hitting an all-time high on the back of the Elon Musk mention, the token has tumbled. It has lost nearly 95% of its value. The technical indicators, including the moving averages, suggest more downside could be on the way.

The majority of leading Elon Musk crypto projects are memecoins that offer very little utility. Some of them have achieved massive valuations, but this is largely a product of hype, effective social media marketing, and speculation. There's no doubt that Dogecoin stands out among the pack due to its longevity, massive market capitalization, and the fact that it has its own chain, but it still remains primarily a meme-play.

Arguably, long-term investors are more likely to turn to BlockDAG and its token presale due to the fact that it is supported by technology, not hype. Many experts would argue that long-term investors looking for massive gains should be hunting for presales that will give holders exposure to innovative solutions.

The BlockDAG project is heavily focused on providing utility through its blockchain and crypto mining app. The consensus mechanism is developed in order to offer speed, security, and decentralization for the end user and developers.

The speed and security of the BlockDAG network mean that it can be leveraged for the latest generation of dApps. This can drive demand for its native token. Many investors may, therefore, favor BDAG over the leading Elon Musk crypto projects.