The world’s richest man is encouraging one of America’s oldest fast-food restaurant franchises, McDonald’s, to accept Dogecoin as a means of payment for its meals with a promise to eat one of their biggest selling food combos, the McDonald’s Happy Meal.
Elon Musk is back to shilling Dogecoin on his Twitter page, just weeks after his electric vehicle company, Tesla, began accepting the meme coin to buy belt buckles, chargers, and other Tesla related merchandise.
Elon Musk tweeted, “I will eat a happy meal on tv if @McDonalds accepts Dogecoin.”
What you should know
Prominent crypto entrepreneurs and supporters shared memes on Twitter about doing odd jobs amid an ongoing market crash, which has seen flagship cryptocurrency asset Bitcoin lose 50% of its value from its all-time high.
They were also joined by global fast-food giant, McDonald’s, the brand infamously linked with temporary Bitcoin (BTC) market crashes because of the ‘M’ shaped chart formation on Bitcoin’s weekly and monthly charts.
Included in this meme frenzy is the President of El-Salvador, Nayib Bukele, who also posted a picture of himself in a McDonald’s uniform as his Twitter profile picture. He went ahead to do a poll, asking if he should quit his job at McDonald’s and open a Bitcoin burger joint. The poll came back with 86.4% of the 83,618 voters selecting “yes”.
McDonald’s also joined the fun by tweeting, “how are you doing people who run crypto Twitter accounts.” Binance’s official twitter account responded to the question with a picture of a crying face hidden behind a smiling mask. “McDonald’s consoled the world’s biggest crypto exchange with a “wagmi,” short for “we are gonna make it.”
Although McDonald’s has not responded to Musk’s comment, many on Twitter are encouraging the brand to accept his offer.
Musk has been an avid supporter of Dogecoin. He brought interest to the token and that caused the token price to peek at nearly 70 cents in May 2021 just before the market crash that saw it lose over 50% of its value.
Dogecoin’s market capitalization grew to a peak of approximately $90 billion, making it more valuable than the likes of Moderna, Snowflake, Uber, FedEx and BMW. Dogecoin ranked as high as 5th based on total market capitalization in the cryptocurrency space.
Since the tweet, there has been no significant change in Dogecoin’s price but however, it is still too early to tell whether or not the tweet will have an effect on the meme coin’s price. However, news of one of America’s oldest fast-food restaurants accepting Dogecoin will do well for the price of Dogecoin and its adoption.
