Elon Musk's tweet caused a sensation in the crypto world; Dogecoin price surged as McDonald's rival MrBeast Burger agreed to accept Dogecoin.
On January 25, 2022, Tesla CEO Elon Musk tweeted, "I will eat a happy meal on tv if @McDonalds accepts Dogecoin, " to which, McDonald’s jokingly responded and said Tesla would have to first accept “grimacecoin”; a tweet that led to several fake grimacecoins seeing price explosions.
After Musk's comment, McDonald’s rivals have said it will work on accepting DOGE if Musk does something for it.
MrBeast Burger, an American delivery-only fast-food chain founded by internet personality Jimmy Donaldson (AKA MrBeast) tweeted," @elonmusk if you retweet this we will work on accepting Dogecoin."
Another McDonald’s rival, Burger King, also pocketed some attention by responding to Musk saying “only a king knows what da coin do,” which to some suggested the fast-food chain is also thinking accepting DOGE payments.
Notably, Elon Musk tweet pumped over 9 per cent in price by the previous day of Dogecoin on December 25. Moreover, McDonald's response to Elon Musk's push for the fast-food chain to accept dogecoin generated a new cryptocurrency called grimacecoin to rise more than 285,000 per cent, according to various media reports.
As per CoinDesk, one newly minted grimacecoin increased as much as 285,641 per cent in the next few hours following the tweet. About 10 other versions of grimacecoin began trading on the Binance Smart Chain network alone, CoinDesk noted. Also, a spokesperson from McDonald’s told Fortune that McDonald’s is not affiliated with any grimacecoin currency.
Earlier, on January 14, Musk tweeted that they have started accepting Dogecoin (DOGE) for merchandise payments.
Musk has been very vocal about the uses of the DOGE blockchain and has tweeted about the same several times in the past. He has even said that he will work closely with the developers of DOGE and help them.
Dogecoin (DOGE) is based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013, according to coinmarketcap.com.
Coinmarketcap data showed that DOGE is currently trading with fall of 1.67 per cent at $0.1394. Its trading volume falls by 36.2 per cent at $609,131,746.