Dogecoin (CRYPTO: DOGE) shot up nearly 8% over 24 hours to $0.14 leading up to early Wednesday morning as social media buzz around McDonald Corporation (NYSE:MCD) accepting the meme coin continued.
Dogecoin DOGE traded almost 2.5% lower over 24 hours leading up to early Tuesday morning alongside other major altcoins.
Dogecoin, In Numbers:
- 24-Hour Performance: 7.9%
- 7-Day Performance: -13.5%
- 30-Day Performance: -23.45%
- YTD Performance: -15.8%
Why It’s Moving? McDonald’s laid out a condition for it accepting DOGE on Tuesday. The restaurant chain said if Tesla Inc (NASDAQ:TSLA) accepts “grimace coin” — a makebelieve coin depicting its mascot Grimace, it would accept DOGE.
McDonald’s attracted high interest from retail investors at press time on Stocktwits, while DOGE was seend trending on CoinMarketCap, a cryptocurrency price tracking website.
Altcoins, as well as Bitcoin, were relatively stable on Tuesday compared with equity markets which declined ahead of a Wednesday press conference by Federal Reserve Chair Jerome Powell.
DOGE is sitting just under a critical level on its chart with bullish traders looking for it to cross the $0.15 mark, according to Benzinga's Tyler Bundy.
See Also: How To Buy Dogecoin (DOGE)
Dogecoin Chatter: McDonald’s humorous stance was taken after Musk tweeted that he would eat a happy meal on TV if the latter accepted DOGE. Restaurant Brands International Inc (NYSE:QSR) unit Burger King one-upped the rival with a tweet of its own.
only a king knows what da coin do
— Burger King (@BurgerKing) January 25, 2022
Burger King’s stance won it some affection on r/Dogecoin — a Reddit forum that discusses the meme coin.
Reddit user crazycarl36 said “Burger King it is (again).” while another user Firm_Business_8378 said, “For real going to quit eating Mc Donald's over this. Probably the healthiest decision I've made in my life. Buger (sic) King it is.”
Dogecoin-centric Twitter handle Mishaboar reminded his followers of how low DOGE transaction fee would mean that if they paid for 10 items at a fast-food chain for one year with the meme cryptocurrency they would only be paying $2-3 in fee per year.
And shall we remind everyone that #Dogecoin fees are so low that if you were to buy 10 items per day for 1 year with Doge you would be paying only 2-3 USD dollars in fees in one year, at current prices? https://t.co/aK4Qz03gzj
— Mishaboar (@mishaboar) January 25, 2022
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