DOGE Soars 10% After Elon Musk Urges McDonald’s to Accept Dogecoin

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Key Takeaways:

  • Elon Musk joins the chorus in urging McDonald’s to accept DOGE.
  • The billionaire CEO promises to eat a McDonald’s happy meal on TV if they do.
  • McDonald’s has yet to respond, but the price of DOGE has increased dramatically since the tweet.

Elon Musk has joined the growing chorus of Dogecoin supporters calling for McDonald’s to accept DOGE. Musk stated in a tweet that if McDonald’s starts accepting DOGE, he will eat a Happy Meal on television.

The most popular meme currency fans are have been clamouring for McDonald’s to accept Dogecoin. Since the organisation’s official Twitter handle expressed interest in the community, the request gained traction. In response to Billy Markus, the co-founder of Dogecoin, requesting a fry from them, McDonald’s tweeted a picture of the Shiba Inu dog featured on the meme coin’s logo. McDonald’s accepting DOGE would be a win-win situation for both sides, according to the DOGE community.

What has McDonald’s done in response?

McDonald’s, on the other hand, has not stated whether it will accept DOGE, only that it is evaluating payment experiences. They’ve also maintained a positive relationship with the crypto community, recently inquiring how crypto accounts were faring amidst the downturn. The intention is most likely to lighten the mood, as part of a running crypto community joke that when the crypto market crashes, market participants can always turn to the fast-food chain for work. Market participants such as Nayib Bukele and Michael Saylor have jumped on the meme.

McDonald’s, on the other hand, is no stranger to cryptocurrencies and cryptocurrency payments. El Salvador’s McDonald’s outlets accept Bitcoin, which is legal tender in the Central American country.

McDonald’s recently released an NFT collection of its signature McRib sandwich. It gave away ten NFTs to customers to commemorate the sandwich’s 40th anniversary.

Since Musk’s tweet at McDonald’s, DOGE has soared

Musk’s addition of his voice to the calls for McDonald’s to accept DOGE could be beneficial to the DOGE community. Musk wields considerable power in both the crypto and global markets. The price of Doge has risen dramatically since his tweet directed at McDonald’s. DOGE is currently trading at $0.14, up 9.5 per cent over the previous 24 hours.

Musk has been a strong supporter of DOGE and has even begun to accept the meme coin as payment for Tesla-branded merchandise. DOGE, according to Musk, has a greater chance of becoming a widely used cryptocurrency.

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Shambhavi Soni

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