Breaking: Elon Musk Bets McDonalds to Accept Dogecoin (DOGE) As Payment

By Sunil Sharma
January 25, 2022 Updated January 25, 2022
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Dogecoin

Elon Musk’s love for Dogecoin seems never ending. Despite ongoing market crash, Tesla CEO today announced to eat a McDonalds happy meal live on TV if McDonalds accepts Dogecoin as payment. This is not the first time Billionaire entrepreneur is seen promoting Dogecoin publicly.

Why McDonalds?

McDonalds has long been a subject of memes for crypto Twitter mostly whenever a bearish session hits. Crypto memes like to present McDonalds as a back up option if anything goes south hill in their crypto careers. But, there is another reason for risen interest in McDonald’s crypto appeal and the below tweet shows that clearly.

McDonald’s recently took a jibe at Crypto influencers amid the ongoing crypto crash. This can be seen as a result of so many crypto memes targeting McDonald’s as an inferior job option.

At the end of the day this visibility in crypto space will really help McDonald’s push their NFT narrative. Yes, McDonald’s like many other brands have shown keen interest in NFT space. Earlier in Nov, 2021 McDonald’s released an exclusive 10 NFT McRib collection at OpenSea to mark the 40th anniversary.

Is Dogecoin Price Rising?

Of course, historically DOGE price appreciation follows Elon’s promotion and today as well DOGE price seems to be reacting. Dogecoin price jumped by more than 9% within minutes of Elon’s tweet. It’s hard to predict whether this tweet will help ailing Dogecoin to come out of heavy selling but definitely a short relief may follow Tweet.

Elon Challenges McDonalds
Elon Challenges McDonalds

In the long term, as reported by CoinGape Markets, Dogecoin price faces stuff resistance at $0.193 and flipping it to support is must to attract new buyers. The cryptocurrency has corrected by more than 15% in last 7 days and was testing support at $0.13 before Elon’s tweet.

To follow price action, pls visit our twitter handle here.

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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