Rise of new crypto 'Grimace Coin,' after Twitter interaction between Elon Musk & McDonald's

Earlier this week, Musk tweeted he will happily eat McDonald’s Happy Meal if the fast-food company starts accepting Dogecoin as payment.  In response, McDonald’s posted on Twitter it will accept Dogecoin if Tesla started taking “Grimace Coin”.

A token called Grimace Coin was quickly created on the Binance Smart Chain, with its price soaring 6,000% in just a few hours after interactions between Musk and the fast-food chain on Twitter.

"Grimace coin” is not a real cryptocurrency but a made-up name based on Grimace, a character that was featured in McDonald commercials.

McDonald’s has cleared that it is not affiliated with any Grimace Coin currency.  But, this harmless and fun exchange soon gave birth to a fake “Grimace Coin'' cryptocurrency that soon found buyers.

The American fast-food company has clarified the anonymously created cryptocurrency is not related to McDonald’s.  The “meme coin” also has a Twitter page with more than a thousand followers but many netizens believe that “Grimace Coin'' is a scam.

Many people who invested in cryptocurrencies responded to this tweet with their purposefully edited photographs showing them working at McDonald’s after they lost all their savings.

Companies like CoinMarketCap and Binance that aid crypto trade have also responded to the McDonald’s tweet.