Elon Musk’s love for Dogecoin seems to never end. Despite the ongoing market crash, the Tesla CEO today vowed to eat a happy McDonalds meal live on TV if McDonalds accepts Dogecoin as payment. This is not the first time the billionaire businessman has publicly advertised Dogecoin.
I will eat a happy meal on TV if @McDonalds Accept Dogecoin
– Elon Musk (@elonmusk) January 25, 2022
Why McDonalds?
McDonalds has long been the subject of memes for the Twitter cryptocurrency primarily whenever a sale occurs. Crypto memes like to recommend McDonalds as a backup option should anything go south in their crypto careers. However, there is another reason for the growing interest in McDonald’s crypto appeal, and the tweet below makes it clear.
how are you guys running crypto twitter accounts
– McDonald’s (@McDonalds) January 24, 2022
McDonald’s recently had an attack on crypto influencers amid the ongoing crypto crash. This can be seen as the result of a lot of crypto memes targeting McDonald’s as an inferior job choice.
At the end of the day, this visibility in the crypto space will really help McDonald’s push their NFT story forward. Yes, McDonald’s like many other brands have shown a particular interest in the NFT space. Earlier in November 2021 McDonald’s released an exclusive 10 NFT McRib collection at OpenSea to mark its 40th anniversary.
Will Dogecoin price increase?
Of course, the historic DOGE price increase that followed Elon’s promotion and the DOGE price today seems to be reacting as well. Dogecoin price jumped more than 9% within minutes of Elon’s tweet. It’s hard to predict whether this tweet will help the ailing Dogecoin out of oversold but certainly a short relief could come after the Tweet.
In the long term, as reported by CoinGape Markets, Dogecoin price faces resistance at $0.193 and a move towards support is essential to attract new buyers. The cryptocurrency has corrected more than 15% in the past 7 days and is testing support at $0.13 ahead of Elon’s tweet.
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