The cryptocurrency market has experienced significant growth and fluctuations in recent years. One of the latest projects in this domain is Elongate, a community-based cryptocurrency primarily focusing on charitable causes.
In this Elongate price prediction, we will analyze market movements, key factors, and the token’s utility to provide a forecast.
Elongate Price Prediction Summary
- End of 2024: As of 2024, the Elongate market has been removed from CoinMarketCap. We couldn’t find its price chart on CoinGecko’s other listing sites. The project has been rebranded to EG Token, with the native token called EG. The EG Token price is $0.000784, and the 24-hour trading volume is $26,611.09.
- 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 | ElonGate (Old) |
| 💲 Price | $0.0000000 |
| 🔆 Coin Symbol | ELONGATE |
| ⏳ Price Change 1h | 0% |
| 🌕 Price Change 24h | 0% |
| 💵 Market Cap | $0 |
| 🥇 Rank | |
| 🌐 24h Volume | $0 |
| 🔄 Circulating Supply | N/A |
| 💰 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
The Elongate team created the meme cryptocurrency as a social impact token to transform the blockchain’s social impact. Token holders receive incentives from a 10% transaction charge, and a sizeable portion of this money is then donated to charitable causes.
As of March 25, 2021, the initial supply of ELONGATE tokens was 1 quadrillion tokens. Roughly 412 trillion of these were burned at creation. Since then, over 24 trillion have been burned. 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 intends to generate profits organically by driving a social transformation, creating transparent channels, and promoting earning and giving at the same time.
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. Over 150,000 individuals held 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 after its first major listing on Bitmart. 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. People have been inquiring about what happened to it, but there are no signs of it on CoinMarketCap or CoinGecko. The official Twitter page has indicated that the token is undergoing an upgrade.
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.
The key milestones in ELONGATE’s price history so far were:
- Elongate was launched on March 25, 2021
- 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
- ElonGate has migrated to V2, and the EG token is now priced at $0.000784.
ELONGATE Coin Price Prediction 2024
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 the 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 EGSwap for swapping BNB/BUSD, and the Gator Gang NFT collection.
The token was removed by mid-2022 and has now been placed for trading on a DEX as Elongate V2.
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 2025-2030
Finally, to arrive at a price prediction for the coin towards the end of this decade, it is important to factor in the project’s individual offerings and the broader macroeconomic scenario.
Fundamental factors driving Elongate’s potential include charitable partnerships, community engagement, development roadmap and tech advancements, regulatory and legal considerations, and EG Token utility.
EG Token Utility includes:
- Allocating 1% of token volume to social impact
- Dedicating 30% of HeadsTails revenue and 100% of Salesforce Exchange fees to EG Token buyback
- Allocating 10% of EG Blockchain Agency revenue and
- 0.02% of EGSwap gas fees collected to EG Token buyback.
While most altcoins typically gain when investor sentiment is favorable, meme coins have not had a particularly positive history. Experienced investors will recall that crypto like Dogecoin, Shiba Inu, and more, recently Dogelon Mars all saw sharp gains during periods of social media hype but slowed down without it.
Ultimately, bigger macroeconomic factors, such as growing inflation and interest rates, could 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.
Based on its past price movements and the Bitcoin halving cycles, the predicted price of ELONGATE for 2025 is estimated at a minimum of $0.001948. ELONGATE is expected to reach a high of $0.005168 in the coming year. By 2030, the price of ELONGATE is projected to be between $0.01196 and $0.02253.
To stay updated on EG Token’s future endeavors, visit their news website and follow them on their social media accounts.
Is It Worth Buying ELONGATE Coin in 2024?
This EG token 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. If you want to add meme coin to your portfolio, you can start with this alternative, Wall Street Memes, which has already generated interest across the crypto community.
Conclusion
This Elongate price prediction covered market movements, key factors, and the token’s utility to provide a forecast.
Remember to research and be careful. Like any other cryptocurrency, predicting the future price of Elongate comes with inherent uncertainty. Additionally, many long-term crypto price predictions are created using algorithms, meaning they can change at any time.
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