Dogecoin Rallies by 8% as Elon Musk Offers it to McDonald’s


Tesla and SpaceX CEO Elon Musk has called on McDonald’s to accept Dogecoin for its meals. He made this known via a tweet where he said that he’d eat a happy meal on TV if that happens. 

Elon Musk Urges McDonald’s to Accept Dogecoin

The tweet came in the background of McDonald’s fun jab at members of the crypto community. Several reactions followed from famous personalities in crypto, such as Michael Saylor of Microstrategy and Charles Hoskinson of Cardano. Amidst the memes and jokes, Musk called on McDonald’s to accept Dogecoin. 

This comes weeks after Tesla announced that it was now accepting Dogecoin for its merchandise. The EV giant now allows people to buy some of its products using the popular meme coin.

Tesla’s Dogecoin support page contains further information about the company’s policy on the token. This includes the fact that it won’t refund any overpayment and can’t accept payments from multiple wallets for a single product. 

Notably, the electric car maker briefly accepted Bitcoin payment for its vehicles before canceling due to environmental concerns.

It wasn’t only Musk that asked McDonald’s to accept the cryptocurrency. Billy Marcus, the Dogecoin co-founder, also stated his support. He tweeted that he’d eat a happy meal while watching Elon Musk eat a happy meal on TV.

McDonald’s Offers “Grimacecoin” to Tesla

In its response, McDonald’s has stated that it’ll only accept DOGE when Tesla starts accepting “Grimacecoin.”

When the burger chain tweeted about Grimacecoin, there was no digital asset named that. However, someone quickly developed the coin on Binance Smart Chain, with its value rising by over 260,000% within a few hours.

This prompted Dogecoin founder to point out that the crypto space has more serious issues with shills and crap tokens than making jokes about one.

While both sides continue to bant, Dogecoin has seen an 8% rise in the past 24 hours. The token, which has fallen significantly in the last few weeks, is now trading at around $0.145. This follows the general uptick in the market, with almost every major cryptocurrency seeing a rise in value.

This article was originally posted on FX Empire


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