Will McDonald’s Accept Dogecoin Following Elon Musk’s Challenge?

Source : coingape.com

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The Dogecoin (DOGE) community has received support from its most popular patron, Elon Musk, in the calls for McDonald’s to accept the memecoin. Elon Musk has challenged the fast food restaurant chain to accept DOGE for a chance to see him eat a McDonald’s Happy Meal on TV. McDonald’s is yet to respond to Musk, but has noted that it is considering the payment experience for its users.

Will McDonald’s humor DOGE holders after Elon Musk’s challenge?

Perennial supporter of Dogecoin, Elon Musk, has joined the calls for McDonald’s to accept the memecoin. In a tweet, Musk stated that he would eat a McDonald’s happy meal on television if the firm began accepting DOGE.

His challenge is coming after McDonald’s posted a DOGE meme. Should they accept the challenge, it would be huge for Dogecoin. Not only is McDonald’s the world’s largest fast-food restaurant chain, they are one of the best-known brands in the world. McDonald’s operates over 39,000 outlets in about 100 countries in the world. Adoption of Dogecoin would give the memecoin more visibility.

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McDonald’s could also stand to gain from the arrangement by getting more patronage. As has been noted by the owner of the Dallas Mavericks NBA basketball team, Mark Cuban, and Elon Musk, who both accept the memecoin at their enterprises, Dogecoin holders are very willing to spend their tokens to pay for goods and services.

Macdonald’s has noted that it is aware of the attention it is receiving from the DOGE community, but has not made any commitment to accept DOGE. In a tweet McDonald’s said:

 We appreciate hearing your interest and continuously evaluate the payment experience,

Notably, McDonald’s has a history with cryptocurrencies that indicates that the prospect of them accepting DOGE is not ruled out. After the adoption of Bitcoin as legal tender in El Salvador, McDonald’s was one of the first enterprises to start accepting Bitcoin. The conglomerate has also joined the NFT bandwagon with the release of a 10 piece collection based on their proprietary McRib sandwiches.

The price of DOGE is surging on the back of the attention

Since Musk tweeted his challenge at McDonald’s, the price of DOGE has increased by about 9% to currently be trading at $0.14. However, the memecoin has been taking a beating in the market amidst the crypto market crash. DOGE is down 13.7% in the last seven days. The joke coin is also around 81.3% down from its all time high price of $0.75 which it previously reached on the back of engagement from Elon Musk.

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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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